Basis: Trailing twelve months (TTM), to the latest fiscal quarter end. 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 13.45% is 121% above its 5-year average of 6.07%, near the high end of its 5-year range (-7.04%–14.21%).
As of the fiscal period ended Tuesday, June 30, 2026. 11.58% above its 12-month average of 12.06%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q4 FY2026 (2026-06-30): 13.45%.
RETURN ON INVESTED CAPITAL (ROIC)
13.45%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
12.06%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
9.71%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
6.07%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
6.08%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
7.18%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
8.09%
CURRENT VS TTM AVG
+11.58%
CURRENT VS 3Y AVG
+38.53%
CURRENT VS 5Y AVG
+121.50%
CURRENT VS 10Y AVG
+121.21%
CURRENT VS 15Y AVG
+87.40%
CURRENT VS 20Y AVG
+66.32%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+53.85%
vs the sector median at left
Cardinal Health, Inc.
Market Cap
$55.01B
Return on Invested Capital (ROIC)
13.45%
TTM Avg
12.06%
3Y Avg
9.71%
5Y Avg
6.07%
Market Cap
$58.20B
Return on Invested Capital (ROIC)
-39.16%
TTM Avg
-31.38%
3Y Avg
-12.74%
5Y Avg
0.29%
Market Cap
$50.40B
Return on Invested Capital (ROIC)
3.72%
TTM Avg
4.38%
3Y Avg
4.32%
5Y Avg
3.88%
Market Cap
$49.24B
Return on Invested Capital (ROIC)
10.22%
TTM Avg
11.08%
3Y Avg
14.46%
5Y Avg
15.87%
Market Cap
$48.93B
Return on Invested Capital (ROIC)
4.52%
TTM Avg
3.25%
3Y Avg
5.37%
5Y Avg
7.01%
Market Cap
$63.47B
Return on Invested Capital (ROIC)
12.75%
TTM Avg
15.09%
3Y Avg
14.58%
5Y Avg
14.67%
Market Cap
$45.09B
Return on Invested Capital (ROIC)
6.79%
TTM Avg
3.17%
3Y Avg
0.33%
5Y Avg
-0.73%
Market Cap
$43.73B
Return on Invested Capital (ROIC)
8.32%
TTM Avg
8.41%
3Y Avg
8.23%
5Y Avg
6.99%
Market Cap
$66.96B
Return on Invested Capital (ROIC)
10.57%
TTM Avg
7.46%
3Y Avg
6.12%
5Y Avg
5.55%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Cardinal Health, Inc. (CAH) | $55.01B | 13.45% | 12.06% | 9.71% | 6.07% |
| Moderna, Inc. (MRNA)vs › | $58.20B | -39.16% | -31.38% | -12.74% | 0.29% |
| Becton, Dickinson and Company (BDX)vs › | $50.40B | 3.72% | 4.38% | 4.32% | 3.88% |
| Edwards Lifesciences Corporation (EW)vs › | $49.24B | 10.22% | 11.08% | 14.46% | 15.87% |
| Humana Inc. (HUM)vs › | $48.93B | 4.52% | 3.25% | 5.37% | 7.01% |
| Cencora, Inc. (COR)vs › | $63.47B | 12.75% | 15.09% | 14.58% | 14.67% |
| Teva Pharmaceutical Industries Limited (TEVA)vs › | $45.09B | 6.79% | 3.17% | 0.33% | -0.73% |
| IQVIA Holdings Inc. (IQV)vs › | $43.73B | 8.32% | 8.41% | 8.23% | 6.99% |
| Boston Scientific Corporation (BSX)vs › | $66.96B | 10.57% | 7.46% | 6.12% | 5.55% |
| Agilent Technologies, Inc. (A)vs › | $41.46B | 11.88% | 12.59% | 13.58% | 12.74% |
ROIC
13.5%
ROE
N/A
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) |
|---|---|
| 2026-06-30 | 13.45% |
| 2026-03-31 | 11.62% |
| 2025-12-31 | 12.07% |
| 2025-09-30 | 11.77% |
| 2025-06-30 | 11.37% |
| 2025-03-31 | 12.11% |
| 2024-12-31 | 11.28% |
| 2024-09-30 | 14.21% |
| 2024-06-30 | 8.82% |
| 2024-03-31 | 5.41% |
| 2023-12-31 | 7.04% |
| 2023-09-30 | 3.25% |
| 2023-06-30 | 3.84% |
| 2023-03-31 | 5.46% |
| 2022-12-31 | -0.36% |
| 2022-09-30 | -7.04% |
| 2022-06-30 | -4.29% |
| 2022-03-31 | -3.30% |
| 2021-12-31 | 0.62% |
| 2021-09-30 | 7.55% |
| 2021-06-30 | 2.67% |
| 2021-03-31 | 3.12% |
| 2020-12-31 | 3.52% |
| 2020-09-30 | 3.06% |
| 2020-06-30 | -23.88% |
| 2020-03-31 | -23.90% |
| 2019-12-31 | -24.16% |
| 2019-09-30 | -23.29% |
| 2019-06-30 | 9.28% |
| 2019-03-31 | 2.02% |
| 2018-12-31 | 2.39% |
| 2018-09-30 | 3.79% |
| 2018-06-30 | 0.70% |
| 2018-03-31 | 8.17% |
| 2017-12-31 | 8.32% |
| 2017-09-30 | 6.19% |
| 2017-06-30 | 7.06% |
| 2017-03-31 | 9.77% |
| 2016-12-31 | 10.04% |
| 2016-09-30 | 9.74% |
| 2016-06-30 | 10.30% |
| 2016-03-31 | 9.97% |
| 2015-12-31 | 9.82% |
| 2015-09-30 | 10.66% |
| 2015-06-30 | 10.11% |
| 2015-03-31 | 10.83% |
| 2014-12-31 | 10.47% |
| 2014-09-30 | 9.81% |
| 2014-06-30 | 10.41% |
| 2014-03-31 | 4.92% |
| 2013-12-31 | 4.72% |
| 2013-09-30 | 4.83% |
| 2013-06-30 | 4.80% |
| 2013-03-31 | 9.61% |
| 2012-12-31 | 10.97% |
| 2012-09-30 | 10.91% |
| 2012-06-30 | 10.69% |
| 2012-03-31 | 10.79% |
| 2011-12-31 | 10.15% |
| 2011-09-30 | 9.88% |
| 2011-06-30 | 9.83% |
| 2011-03-31 | 10.00% |
| 2010-12-31 | 9.65% |
| 2010-09-30 | 10.55% |
| 2010-06-30 | 8.28% |
| 2010-03-31 | 8.78% |
| 2009-12-31 | 9.00% |
| 2009-09-30 | 9.34% |
| 2009-06-30 | 7.80% |
| 2009-03-31 | 7.89% |
| 2008-12-31 | 8.86% |
| 2008-09-30 | 9.93% |
| 2008-06-30 | 10.83% |
| 2008-03-31 | 10.35% |
| 2007-12-31 | 7.53% |
| 2007-09-30 | 7.62% |
| 2007-06-30 | 7.88% |
| 2007-03-31 | 8.90% |
| 2006-12-31 | 11.05% |
| 2006-09-30 | 11.12% |
| 2006-06-30 | 10.77% |
| 2006-03-31 | 9.72% |
| 2005-12-31 | 9.75% |
| 2005-09-30 | 9.11% |
| 2005-06-30 | 9.14% |
| 2005-03-31 | 9.96% |
| 2004-12-31 | 10.47% |
| 2004-09-30 | 11.78% |
| 2004-06-30 | 12.38% |
| 2004-03-31 | 14.08% |
| 2003-12-31 | 13.56% |
| 2003-09-30 | 14.14% |
| 2003-06-30 | 13.01% |