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 11.18% is 16% above its 5-year average of 9.61%, near the high end of its 5-year range (7.05%–11.72%).
As of the fiscal period ended Tuesday, June 30, 2026. 0.73% above its 12-month average of 11.10%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 11.18%.
RETURN ON INVESTED CAPITAL (ROIC)
11.18%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
11.10%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
10.55%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
9.61%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
8.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
8.30%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
8.44%
CURRENT VS TTM AVG
+0.73%
CURRENT VS 3Y AVG
+5.96%
CURRENT VS 5Y AVG
+16.34%
CURRENT VS 10Y AVG
+26.66%
CURRENT VS 15Y AVG
+34.77%
CURRENT VS 20Y AVG
+32.51%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+27.85%
vs the sector median at left
DaVita Inc.
Market Cap
$11.66B
Return on Invested Capital (ROIC)
11.18%
TTM Avg
11.10%
3Y Avg
10.55%
5Y Avg
9.61%
Market Cap
$11.29B
Return on Invested Capital (ROIC)
7.86%
TTM Avg
5.36%
3Y Avg
7.03%
5Y Avg
8.47%
Market Cap
$12.07B
Return on Invested Capital (ROIC)
13.42%
TTM Avg
12.59%
3Y Avg
14.85%
5Y Avg
11.33%
Market Cap
$12.30B
Return on Invested Capital (ROIC)
-1.61%
TTM Avg
-0.86%
3Y Avg
-2.74%
5Y Avg
0.22%
Market Cap
$10.80B
Return on Invested Capital (ROIC)
8.90%
TTM Avg
10.00%
3Y Avg
10.19%
5Y Avg
11.72%
Market Cap
$12.52B
Return on Invested Capital (ROIC)
8.48%
TTM Avg
7.10%
3Y Avg
4.92%
5Y Avg
2.27%
Market Cap
$10.66B
Return on Invested Capital (ROIC)
3.56%
TTM Avg
12.01%
3Y Avg
15.07%
5Y Avg
15.28%
Market Cap
$10.58B
Return on Invested Capital (ROIC)
11.74%
TTM Avg
10.95%
3Y Avg
8.97%
5Y Avg
9.05%
Market Cap
$10.51B
Return on Invested Capital (ROIC)
4.76%
TTM Avg
4.09%
3Y Avg
3.90%
5Y Avg
4.30%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| DaVita Inc. (DVA) | $11.66B | 11.18% | 11.10% | 10.55% | 9.61% |
| Bio-Techne Corporation (TECH)vs › | $11.29B | 7.86% | 5.36% | 7.03% | 8.47% |
| Encompass Health Corporation (EHC)vs › | $12.07B | 13.42% | 12.59% | 14.85% | 11.33% |
| Baxter International Inc. (BAX)vs › | $12.30B | -1.61% | -0.86% | -2.74% | 0.22% |
| Align Technology, Inc. (ALGN)vs › | $10.80B | 8.90% | 10.00% | 10.19% | 11.72% |
| Penumbra, Inc. (PEN)vs › | $12.52B | 8.48% | 7.10% | 4.92% | 2.27% |
| Molina Healthcare, Inc. (MOH)vs › | $10.66B | 3.56% | 12.01% | 15.07% | 15.28% |
| Universal Health Services, Inc. (UHS)vs › | $10.58B | 11.74% | 10.95% | 8.97% | 9.05% |
| The Cooper Companies, Inc. (COO)vs › | $10.51B | 4.76% | 4.09% | 3.90% | 4.30% |
| Tempus AI, Inc. (TEM)vs › | $10.34B | -14.34% | -61.05% | -59.83% | -54.60% |
ROIC
11.2%
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 | 11.18% |
| 2026-03-31 | 11.02% |
| 2025-12-31 | 11.01% |
| 2025-09-30 | 11.02% |
| 2025-06-30 | 11.26% |
| 2025-03-31 | 11.58% |
| 2024-12-31 | 11.72% |
| 2024-09-30 | 10.38% |
| 2024-06-30 | 10.46% |
| 2024-03-31 | 9.70% |
| 2023-12-31 | 9.07% |
| 2023-09-30 | 8.22% |
| 2023-06-30 | 7.05% |
| 2023-03-31 | 7.27% |
| 2022-12-31 | 7.32% |
| 2022-09-30 | 8.02% |
| 2022-06-30 | 8.75% |
| 2022-03-31 | 9.14% |
| 2021-12-31 | 9.62% |
| 2021-09-30 | 9.21% |
| 2021-06-30 | 8.81% |
| 2021-03-31 | 8.28% |
| 2020-12-31 | 8.79% |
| 2020-09-30 | 9.24% |
| 2020-06-30 | 7.74% |
| 2020-03-31 | 8.74% |
| 2019-12-31 | 8.35% |
| 2019-09-30 | 7.83% |
| 2019-06-30 | 6.27% |
| 2019-03-31 | 5.70% |
| 2018-12-31 | 7.12% |
| 2018-09-30 | 7.38% |
| 2018-06-30 | 8.49% |
| 2018-03-31 | 8.33% |
| 2017-12-31 | 9.53% |
| 2017-09-30 | 8.06% |
| 2017-06-30 | 10.39% |
| 2017-03-31 | 9.89% |
| 2016-12-31 | 8.12% |
| 2016-09-30 | 6.93% |
| 2016-06-30 | 4.92% |
| 2016-03-31 | 5.55% |
| 2015-12-31 | 4.26% |
| 2015-09-30 | 5.77% |
| 2015-06-30 | 5.51% |
| 2015-03-31 | 5.88% |
| 2014-12-31 | 7.49% |
| 2014-09-30 | 7.59% |
| 2014-06-30 | 7.42% |
| 2014-03-31 | 7.83% |
| 2013-12-31 | 6.87% |
| 2013-09-30 | 6.73% |
| 2013-06-30 | 6.54% |
| 2013-03-31 | 5.20% |
| 2012-12-31 | 5.83% |
| 2012-09-30 | 8.39% |
| 2012-06-30 | 9.74% |
| 2012-03-31 | 9.88% |
| 2011-12-31 | 9.34% |
| 2011-09-30 | 9.16% |
| 2011-06-30 | 9.14% |
| 2011-03-31 | 8.87% |
| 2010-12-31 | 8.93% |
| 2010-09-30 | 9.51% |
| 2010-06-30 | 9.38% |
| 2010-03-31 | 9.04% |
| 2009-12-31 | 9.00% |
| 2009-09-30 | 8.78% |
| 2009-06-30 | 8.46% |
| 2009-03-31 | 8.43% |
| 2008-12-31 | 8.36% |
| 2008-09-30 | 8.30% |
| 2008-06-30 | 8.58% |
| 2008-03-31 | 8.97% |
| 2007-12-31 | 8.92% |
| 2007-09-30 | 9.01% |
| 2007-06-30 | 9.31% |
| 2007-03-31 | 8.46% |
| 2006-12-31 | 8.33% |
| 2006-09-30 | 7.91% |
| 2006-06-30 | 6.64% |
| 2006-03-31 | 5.89% |
| 2005-12-31 | 5.18% |
| 2005-09-30 | 10.65% |
| 2005-06-30 | 11.24% |
| 2005-03-31 | 11.41% |
| 2004-12-31 | 11.86% |
| 2004-09-30 | 12.84% |
| 2004-06-30 | 13.95% |
| 2004-03-31 | 14.10% |
| 2003-12-31 | 14.13% |
| 2003-09-30 | 13.22% |
| 2003-06-30 | 13.54% |
