Basis: Latest reported fiscal year. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the return on invested capital (ROIC) high or low?
The return on invested capital (ROIC) of 6.32% is 16% above its 5-year average of 5.47%, near the high end of its 5-year range (2.69%–6.46%).
As of the fiscal period ended Wednesday, December 31, 2025. 0.72% above its 12-month average of 6.28%.
Annual fiscal-year return on invested capital; no daily interpolation. Historical series through 2025-12-31.
RETURN ON INVESTED CAPITAL (ROIC)
6.32%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
6.28%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
6.18%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
5.47%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
5.78%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
7.29%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
7.82%
CURRENT VS TTM AVG
+0.72%
CURRENT VS 3Y AVG
+2.35%
CURRENT VS 5Y AVG
+15.61%
CURRENT VS 10Y AVG
+9.29%
CURRENT VS 15Y AVG
-13.33%
CURRENT VS 20Y AVG
-19.23%
SECTOR MEDIAN · CONSUMER DEFENSIVE
8.18%
median of 52 covered companies
CURRENT VS SECTOR MEDIAN
-22.79%
vs the sector median at left
Anheuser-Busch InBev SA/NV
Market Cap
$153.58B
Return on Invested Capital (ROIC)
6.32%
TTM Avg
6.28%
3Y Avg
6.18%
5Y Avg
5.47%
Market Cap
$186.72B
Return on Invested Capital (ROIC)
13.22%
TTM Avg
13.62%
3Y Avg
13.51%
5Y Avg
12.88%
Market Cap
$117.19B
Return on Invested Capital (ROIC)
8.04%
TTM Avg
5.20%
3Y Avg
0.31%
5Y Avg
2.23%
Market Cap
$113.38B
Return on Invested Capital (ROIC)
34.45%
TTM Avg
32.83%
3Y Avg
31.76%
5Y Avg
28.00%
Market Cap
$83.80B
Return on Invested Capital (ROIC)
21.32%
TTM Avg
21.92%
3Y Avg
19.60%
5Y Avg
20.74%
Market Cap
$79.67B
Return on Invested Capital (ROIC)
6.47%
TTM Avg
7.29%
3Y Avg
6.73%
5Y Avg
6.46%
Market Cap
$71.54B
Return on Invested Capital (ROIC)
11.35%
TTM Avg
10.53%
3Y Avg
11.02%
5Y Avg
12.78%
Market Cap
$70.44B
Return on Invested Capital (ROIC)
29.91%
TTM Avg
30.60%
3Y Avg
27.18%
5Y Avg
26.90%
Market Cap
$246.32B
Return on Invested Capital (ROIC)
10.80%
TTM Avg
10.70%
3Y Avg
10.55%
5Y Avg
10.64%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Anheuser-Busch InBev SA/NV (BUD) | $153.58B | 6.32% | 6.28% | 6.18% | 5.47% |
| PepsiCo, Inc. (PEP)vs › | $186.72B | 13.22% | 13.62% | 13.51% | 12.88% |
| British American Tobacco p.l.c. (BTI)vs › | $117.19B | 8.04% | 5.20% | 0.31% | 2.23% |
| Altria Group, Inc. (MO)vs › | $113.38B | 34.45% | 32.83% | 31.76% | 28.00% |
| Monster Beverage Corporation (MNST)vs › | $83.80B | 21.32% | 21.92% | 19.60% | 20.74% |
| Mondelez International, Inc. (MDLZ)vs › | $79.67B | 6.47% | 7.29% | 6.73% | 6.46% |
| Target Corporation (TGT)vs › | $71.54B | 11.35% | 10.53% | 11.02% | 12.78% |
| Colgate-Palmolive Company (CL)vs › | $70.44B | 29.91% | 30.60% | 27.18% | 26.90% |
| Nestlé S.A. (NSRGY)vs › | $246.32B | 10.80% | 10.70% | 10.55% | 10.64% |
| Coca-Cola Europacific Partners PLC (CCEP)vs › | $46.01B | 9.52% | 8.05% | 7.69% | 6.49% |
ROIC
6.3%
ROE
7.8%
ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)
Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2025-12-31 | 6.32% |
| 2024-12-31 | 6.23% |
| 2023-12-31 | 5.69% |
| 2022-12-31 | 6.46% |
| 2021-12-31 | 5.41% |
| 2020-12-31 | 2.69% |
| 2019-12-31 | 6.08% |
| 2018-12-31 | 5.41% |
| 2017-12-31 | 6.32% |
| 2016-12-31 | 3.56% |
| 2015-12-31 | 9.44% |
| 2014-12-31 | 10.07% |
| 2013-12-31 | 14.71% |
| 2012-12-31 | 10.04% |
| 2011-12-31 | 10.19% |
| 2010-12-31 | 8.05% |
| 2009-12-31 | 8.84% |
| 2008-12-31 | 4.36% |
| 2007-12-31 | 14.11% |
| 2006-12-31 | 11.56% |
| 2005-12-31 | 8.77% |
| 2004-12-31 | 6.79% |
| 2003-12-31 | 7.15% |
| 2002-12-31 | 6.91% |
