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 18.22% is 14% above its 5-year average of 15.95%, near the high end of its 5-year range (10.71%–18.97%).
As of the fiscal period ended Tuesday, June 30, 2026. 1.84% below its 12-month average of 18.56%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
18.22%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
18.56%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
17.81%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
15.95%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
11.65%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
13.77%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
13.23%
CURRENT VS TTM AVG
-1.84%
CURRENT VS 3Y AVG
+2.34%
CURRENT VS 5Y AVG
+14.25%
CURRENT VS 10Y AVG
+56.44%
CURRENT VS 15Y AVG
+32.31%
CURRENT VS 20Y AVG
+37.72%
SECTOR MEDIAN · CONSUMER CYCLICAL
10.97%
median of 96 covered companies
CURRENT VS SECTOR MEDIAN
+66.03%
vs the sector median at left
Chipotle Mexican Grill, Inc.
Market Cap
$46.62B
Return on Invested Capital (ROIC)
18.22%
TTM Avg
18.56%
3Y Avg
17.81%
5Y Avg
15.95%
Market Cap
$46.25B
Return on Invested Capital (ROIC)
15.94%
TTM Avg
13.93%
3Y Avg
12.31%
5Y Avg
11.66%
Market Cap
$47.45B
Return on Invested Capital (ROIC)
26.21%
TTM Avg
32.49%
3Y Avg
34.03%
5Y Avg
34.64%
Market Cap
$40.09B
Return on Invested Capital (ROIC)
37.53%
TTM Avg
31.29%
3Y Avg
35.36%
5Y Avg
35.63%
Market Cap
$54.43B
Return on Invested Capital (ROIC)
1.61%
TTM Avg
1.44%
3Y Avg
2.09%
5Y Avg
1.44%
Market Cap
$38.75B
Return on Invested Capital (ROIC)
8.54%
TTM Avg
11.91%
3Y Avg
15.13%
5Y Avg
15.47%
Market Cap
$55.12B
Return on Invested Capital (ROIC)
10.87%
TTM Avg
11.33%
3Y Avg
14.64%
5Y Avg
16.67%
Market Cap
$37.97B
Return on Invested Capital (ROIC)
0.25%
TTM Avg
4.44%
3Y Avg
4.53%
5Y Avg
4.06%
Market Cap
$31.16B
Return on Invested Capital (ROIC)
25.89%
TTM Avg
14.65%
3Y Avg
10.70%
5Y Avg
5.46%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Chipotle Mexican Grill, Inc. (CMG) | $46.62B | 18.22% | 18.56% | 17.81% | 15.95% |
| eBay Inc. (EBAY)vs › | $46.25B | 15.94% | 13.93% | 12.31% | 11.66% |
| AutoZone, Inc. (AZO)vs › | $47.45B | 26.21% | 32.49% | 34.03% | 34.64% |
| Yum! Brands, Inc. (YUM)vs › | $40.09B | 37.53% | 31.29% | 35.36% | 35.63% |
| Ford Motor Company (F)vs › | $54.43B | 1.61% | 1.44% | 2.09% | 1.44% |
| D.R. Horton, Inc. (DHI)vs › | $38.75B | 8.54% | 11.91% | 15.13% | 15.47% |
| NIKE, Inc. (NKE)vs › | $55.12B | 10.87% | 11.33% | 14.64% | 16.67% |
| JD.com, Inc. (JD)vs › | $37.97B | 0.25% | 4.44% | 4.53% | 4.06% |
| Expedia Group, Inc. (EXPE)vs › | $31.16B | 25.89% | 14.65% | 10.70% | 5.46% |
| Carnival Corporation & plc (CCL)vs › | $31.16B | 11.08% | 10.00% | 3.73% | -2.97% |
ROIC
18.2%
ROE
64.5%
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 | 18.22% |
| 2026-03-31 | 18.67% |
| 2025-12-31 | 18.97% |
| 2025-09-30 | 18.59% |
| 2025-06-30 | 18.36% |
| 2025-03-31 | 18.85% |
| 2024-12-31 | 18.20% |
| 2024-09-30 | 17.76% |
| 2024-06-30 | 17.15% |
| 2024-03-31 | 16.74% |
| 2023-12-31 | 16.84% |
| 2023-09-30 | 16.59% |
| 2023-06-30 | 16.54% |
| 2023-03-31 | 16.39% |
| 2022-12-31 | 14.70% |
| 2022-09-30 | 13.18% |
| 2022-06-30 | 12.96% |
| 2022-03-31 | 12.00% |
| 2021-12-31 | 11.19% |
| 2021-09-30 | 12.31% |
| 2021-06-30 | 10.71% |
| 2021-03-31 | 7.16% |
| 2020-12-31 | 5.62% |
| 2020-09-30 | 4.81% |
| 2020-06-30 | 5.30% |
| 2020-03-31 | 7.20% |
| 2019-12-31 | 7.64% |
| 2019-09-30 | 6.92% |
| 2019-06-30 | 5.83% |
| 2019-03-31 | 4.87% |
| 2018-12-31 | 9.36% |
| 2018-09-30 | 10.03% |
| 2018-06-30 | 9.33% |
| 2018-03-31 | 10.77% |
| 2017-12-31 | 10.05% |
| 2017-09-30 | 8.38% |
| 2017-06-30 | 7.47% |
| 2017-03-31 | 5.33% |
| 2016-12-31 | 1.17% |
| 2016-09-30 | 3.99% |
| 2016-06-30 | 11.40% |
| 2016-03-31 | 17.23% |
| 2015-12-31 | 19.29% |
| 2015-09-30 | 19.44% |
| 2015-06-30 | 20.12% |
| 2015-03-31 | 19.88% |
| 2014-12-31 | 19.42% |
| 2014-09-30 | 18.50% |
| 2014-06-30 | 17.41% |
| 2014-03-31 | 17.25% |
| 2013-12-31 | 18.03% |
| 2013-09-30 | 17.79% |
| 2013-06-30 | 18.27% |
| 2013-03-31 | 19.01% |
| 2012-12-31 | 18.69% |
| 2012-09-30 | 17.65% |
| 2012-06-30 | 17.44% |
| 2012-03-31 | 16.51% |
| 2011-12-31 | 16.99% |
| 2011-09-30 | 16.83% |
| 2011-06-30 | 16.78% |
| 2011-03-31 | 17.63% |
| 2010-12-31 | 17.85% |
| 2010-09-30 | 17.59% |
| 2010-06-30 | 16.49% |
| 2010-03-31 | 15.57% |
| 2009-12-31 | 14.72% |
| 2009-09-30 | 13.05% |
| 2009-06-30 | 11.77% |
| 2009-03-31 | 10.69% |
| 2008-12-31 | 9.76% |
| 2008-09-30 | 10.17% |
| 2008-06-30 | 10.77% |
| 2008-03-31 | 10.68% |
| 2007-12-31 | 10.36% |
| 2007-09-30 | 9.78% |
| 2007-06-30 | 8.70% |
| 2007-03-31 | 7.45% |
| 2006-12-31 | 6.92% |
| 2006-09-30 | 6.24% |
| 2006-06-30 | 5.46% |
