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 4.14% is in line with its 5-year average of 4.37%, around the middle of its 5-year range (1.59%–6.21%).
As of the fiscal period ended Tuesday, June 30, 2026. 43.99% above its 12-month average of 2.87%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
4.14%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
2.87%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
3.96%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
4.37%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
5.15%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
6.32%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
6.51%
CURRENT VS TTM AVG
+43.99%
CURRENT VS 3Y AVG
+4.38%
CURRENT VS 5Y AVG
-5.26%
CURRENT VS 10Y AVG
-19.74%
CURRENT VS 15Y AVG
-34.58%
CURRENT VS 20Y AVG
-36.51%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
-52.71%
vs the sector median at left
CVS Health Corp.
Market Cap
$122.13B
Return on Invested Capital (ROIC)
4.14%
TTM Avg
2.87%
3Y Avg
3.96%
5Y Avg
4.37%
Market Cap
$124.07B
Return on Invested Capital (ROIC)
15.11%
TTM Avg
12.85%
3Y Avg
12.25%
5Y Avg
11.92%
Market Cap
$118.24B
Return on Invested Capital (ROIC)
6.44%
TTM Avg
6.11%
3Y Avg
5.46%
5Y Avg
5.53%
Market Cap
$131.96B
Return on Invested Capital (ROIC)
15.47%
TTM Avg
14.35%
3Y Avg
12.24%
5Y Avg
10.38%
Market Cap
$132.36B
Return on Invested Capital (ROIC)
17.33%
TTM Avg
8.72%
3Y Avg
13.98%
5Y Avg
17.04%
Market Cap
$105.00B
Return on Invested Capital (ROIC)
9.82%
TTM Avg
10.14%
3Y Avg
10.34%
5Y Avg
10.08%
Market Cap
$104.77B
Return on Invested Capital (ROIC)
28.34%
TTM Avg
27.87%
3Y Avg
25.19%
5Y Avg
21.44%
Market Cap
$103.24B
Return on Invested Capital (ROIC)
5.42%
TTM Avg
6.63%
3Y Avg
6.62%
5Y Avg
7.56%
Market Cap
$144.17B
Return on Invested Capital (ROIC)
5.03%
TTM Avg
5.92%
3Y Avg
6.55%
5Y Avg
6.70%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| CVS Health Corp. (CVS) | $122.13B | 4.14% | 2.87% | 3.96% | 4.37% |
| Intuitive Surgical, Inc. (ISRG)vs › | $124.07B | 15.11% | 12.85% | 12.25% | 11.92% |
| Medtronic plc (MDT)vs › | $118.24B | 6.44% | 6.11% | 5.46% | 5.53% |
| Bristol-Myers Squibb Company (BMY)vs › | $131.96B | 15.47% | 14.35% | 12.24% | 10.38% |
| Vertex Pharmaceuticals Incorporated (VRTX)vs › | $132.36B | 17.33% | 8.72% | 13.98% | 17.04% |
| Stryker Corporation (SYK)vs › | $105.00B | 9.82% | 10.14% | 10.34% | 10.08% |
| McKesson Corporation (MCK)vs › | $104.77B | 28.34% | 27.87% | 25.19% | 21.44% |
| Sanofi (SNY)vs › | $103.24B | 5.42% | 6.63% | 6.62% | 7.56% |
| Danaher Corporation (DHR)vs › | $144.17B | 5.03% | 5.92% | 6.55% | 6.70% |
| GSK plc (GSK)vs › | $97.83B | 13.95% | 12.57% | 12.55% | 10.41% |
ROIC
4.1%
ROE
6.2%
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 | 4.14% |
| 2026-03-31 | 2.95% |
| 2025-12-31 | 2.12% |
| 2025-09-30 | 1.59% |
| 2025-06-30 | 3.57% |
| 2025-03-31 | 4.07% |
| 2024-12-31 | 3.64% |
| 2024-09-30 | 4.09% |
| 2024-06-30 | 5.29% |
| 2024-03-31 | 5.41% |
| 2023-12-31 | 5.93% |
| 2023-09-30 | 6.06% |
| 2023-06-30 | 2.65% |
| 2023-03-31 | 3.39% |
| 2022-12-31 | 3.65% |
| 2022-09-30 | 3.15% |
| 2022-06-30 | 6.21% |
| 2022-03-31 | 6.04% |
| 2021-12-31 | 5.90% |
| 2021-09-30 | 5.91% |
| 2021-06-30 | 5.90% |
| 2021-03-31 | 6.06% |
| 2020-12-31 | 5.89% |
| 2020-09-30 | 5.99% |
| 2020-06-30 | 5.78% |
| 2020-03-31 | 5.28% |
| 2019-12-31 | 5.11% |
| 2019-09-30 | 3.93% |
| 2019-06-30 | 3.77% |
| 2019-03-31 | 1.62% |
| 2018-12-31 | 1.60% |
| 2018-09-30 | 4.58% |
| 2018-06-30 | 4.16% |
| 2018-03-31 | 7.28% |
| 2017-12-31 | 11.01% |
| 2017-09-30 | 8.67% |
| 2017-06-30 | 8.97% |
| 2017-03-31 | 9.20% |
| 2016-12-31 | 9.10% |
| 2016-09-30 | 9.03% |
| 2016-06-30 | 8.40% |
| 2016-03-31 | 8.31% |
| 2015-12-31 | 8.14% |
| 2015-09-30 | 7.66% |
| 2015-06-30 | 9.74% |
| 2015-03-31 | 9.77% |
| 2014-12-31 | 9.43% |
| 2014-09-30 | 9.29% |
| 2014-06-30 | 9.18% |
| 2014-03-31 | 8.92% |
| 2013-12-31 | 8.66% |
| 2013-09-30 | 9.26% |
| 2013-06-30 | 8.89% |
| 2013-03-31 | 8.67% |
| 2012-12-31 | 8.41% |
| 2012-09-30 | 7.99% |
| 2012-06-30 | 7.70% |
| 2012-03-31 | 7.43% |
| 2011-12-31 | 7.20% |
| 2011-09-30 | 7.04% |
| 2011-06-30 | 6.78% |
| 2011-03-31 | 7.06% |
| 2010-12-31 | 7.17% |
| 2010-09-30 | 7.20% |
| 2010-06-30 | 7.60% |
| 2010-03-31 | 7.82% |
| 2009-12-31 | 7.80% |
| 2009-09-30 | 7.54% |
| 2009-06-30 | 7.17% |
| 2009-03-31 | 7.13% |
| 2008-12-31 | 7.14% |
| 2008-09-27 | 7.34% |
| 2008-06-28 | 7.25% |
| 2008-03-29 | 7.10% |
| 2007-12-31 | 6.29% |
| 2007-09-29 | 5.30% |
| 2007-06-30 | 4.41% |
| 2007-03-31 | 3.80% |
| 2006-12-31 | 9.53% |
| 2006-09-30 | 8.74% |
| 2006-07-01 | 8.65% |
| 2006-04-01 | 11.45% |
| 2005-12-31 | 11.47% |
| 2005-10-01 | 10.00% |
| 2005-07-02 | 9.49% |
| 2005-04-02 | 9.10% |
| 2004-12-31 | 9.03% |
| 2004-10-02 | 2.73% |
| 2004-07-03 | 3.79% |
| 2004-04-03 | 3.49% |
| 2003-12-31 | 2.85% |
| 2003-09-27 | 11.46% |
| 2003-06-28 | 11.41% |
