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 6.34% is 12% below its 5-year average of 7.22%, near the low end of its 5-year range (5.87%–7.99%).
As of the fiscal period ended Tuesday, June 30, 2026. 4.93% below its 12-month average of 6.67%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
6.34%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
6.67%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
7.07%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
7.22%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
6.98%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
6.09%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
6.18%
CURRENT VS TTM AVG
-4.93%
CURRENT VS 3Y AVG
-10.36%
CURRENT VS 5Y AVG
-12.23%
CURRENT VS 10Y AVG
-9.23%
CURRENT VS 15Y AVG
+4.06%
CURRENT VS 20Y AVG
+2.57%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
-27.53%
vs the sector median at left
Elevance Health Inc.
Market Cap
$86.50B
Return on Invested Capital (ROIC)
6.34%
TTM Avg
6.67%
3Y Avg
7.07%
5Y Avg
7.22%
Market Cap
$83.11B
Return on Invested Capital (ROIC)
9.19%
TTM Avg
9.70%
3Y Avg
12.91%
5Y Avg
18.41%
Market Cap
$91.81B
Return on Invested Capital (ROIC)
19.41%
TTM Avg
17.66%
3Y Avg
17.17%
5Y Avg
17.02%
Market Cap
$97.77B
Return on Invested Capital (ROIC)
13.95%
TTM Avg
12.57%
3Y Avg
12.55%
5Y Avg
10.41%
Market Cap
$72.86B
Return on Invested Capital (ROIC)
7.69%
TTM Avg
7.02%
3Y Avg
7.07%
5Y Avg
6.51%
Market Cap
$103.21B
Return on Invested Capital (ROIC)
5.42%
TTM Avg
6.63%
3Y Avg
6.62%
5Y Avg
7.56%
Market Cap
$104.80B
Return on Invested Capital (ROIC)
28.34%
TTM Avg
27.87%
3Y Avg
25.19%
5Y Avg
21.44%
Market Cap
$67.48B
Return on Invested Capital (ROIC)
10.57%
TTM Avg
7.46%
3Y Avg
6.12%
5Y Avg
5.55%
Market Cap
$106.26B
Return on Invested Capital (ROIC)
9.82%
TTM Avg
10.14%
3Y Avg
10.34%
5Y Avg
10.08%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Elevance Health Inc. (ELV) | $86.50B | 6.34% | 6.67% | 7.07% | 7.22% |
| Regeneron Pharmaceuticals, Inc. (REGN)vs › | $83.11B | 9.19% | 9.70% | 12.91% | 18.41% |
| HCA Healthcare, Inc. (HCA)vs › | $91.81B | 19.41% | 17.66% | 17.17% | 17.02% |
| GSK plc (GSK)vs › | $97.77B | 13.95% | 12.57% | 12.55% | 10.41% |
| Cigna Corporation (CI)vs › | $72.86B | 7.69% | 7.02% | 7.07% | 6.51% |
| Sanofi (SNY)vs › | $103.21B | 5.42% | 6.63% | 6.62% | 7.56% |
| McKesson Corporation (MCK)vs › | $104.80B | 28.34% | 27.87% | 25.19% | 21.44% |
| Boston Scientific Corporation (BSX)vs › | $67.48B | 10.57% | 7.46% | 6.12% | 5.55% |
| Stryker Corporation (SYK)vs › | $106.26B | 9.82% | 10.14% | 10.34% | 10.08% |
| Cencora, Inc. (COR)vs › | $63.28B | 12.75% | 15.09% | 14.58% | 14.67% |
ROIC
6.3%
ROE
11.1%
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 | 6.34% |
| 2026-03-31 | 7.91% |
| 2025-12-31 | 6.65% |
| 2025-09-30 | 6.25% |
| 2025-06-30 | 6.18% |
| 2025-03-31 | 6.63% |
| 2024-12-31 | 6.74% |
| 2024-09-30 | 7.13% |
| 2024-06-30 | 7.60% |
| 2024-03-31 | 7.50% |
| 2023-12-31 | 7.43% |
| 2023-09-30 | 7.57% |
| 2023-06-30 | 7.98% |
| 2023-03-31 | 7.66% |
| 2022-12-31 | 7.51% |
| 2022-09-30 | 7.71% |
| 2022-06-30 | 7.77% |
| 2022-03-31 | 7.96% |
| 2021-12-31 | 7.99% |
| 2021-09-30 | 7.26% |
| 2021-06-30 | 5.87% |
| 2021-03-31 | 6.39% |
| 2020-12-31 | 6.73% |
| 2020-09-30 | 7.28% |
| 2020-06-30 | 8.33% |
| 2020-03-31 | 7.41% |
| 2019-12-31 | 7.79% |
| 2019-09-30 | 7.09% |
| 2019-06-30 | 6.94% |
| 2019-03-31 | 6.88% |
| 2018-12-31 | 6.64% |
| 2018-09-30 | 8.33% |
| 2018-06-30 | 7.92% |
| 2018-03-31 | 7.79% |
| 2017-12-31 | 6.53% |
| 2017-09-30 | 4.93% |
| 2017-06-30 | 4.86% |
| 2017-03-31 | 4.45% |
| 2016-12-31 | 5.86% |
| 2016-09-30 | 5.51% |
| 2016-06-30 | 3.58% |
| 2016-03-31 | 3.71% |
| 2015-12-31 | 4.11% |
| 2015-09-30 | 4.59% |
| 2015-06-30 | 4.37% |
| 2015-03-31 | 4.10% |
| 2014-12-31 | 4.08% |
| 2014-09-30 | 3.74% |
| 2014-06-30 | 3.76% |
| 2014-03-31 | 3.88% |
| 2013-12-31 | 4.33% |
| 2013-09-30 | 4.60% |
| 2013-06-30 | 4.68% |
| 2013-03-31 | 4.44% |
| 2012-12-31 | 4.44% |
| 2012-09-30 | 4.51% |
| 2012-06-30 | 4.53% |
| 2012-03-31 | 4.82% |
| 2011-12-31 | 4.94% |
| 2011-09-30 | 5.30% |
| 2011-06-30 | 5.67% |
| 2011-03-31 | 5.72% |
| 2010-12-31 | 5.66% |
| 2010-09-30 | 9.80% |
| 2010-06-30 | 9.87% |
| 2010-03-31 | 9.71% |
| 2009-12-31 | 9.09% |
| 2009-09-30 | 4.67% |
| 2009-06-30 | 4.85% |
| 2009-03-31 | 4.94% |
| 2008-12-31 | 5.04% |
| 2008-09-30 | 5.98% |
| 2008-06-30 | 6.01% |
| 2008-03-31 | 6.11% |
| 2007-12-31 | 6.42% |
| 2007-09-30 | 6.18% |
| 2007-06-30 | 5.90% |
| 2007-03-31 | 5.83% |
| 2006-12-31 | 5.94% |
| 2006-09-30 | 5.70% |
| 2006-06-30 | 5.54% |
| 2006-03-31 | 4.98% |
| 2005-12-31 | 4.75% |
| 2005-09-30 | 4.71% |
| 2005-06-30 | 3.77% |
| 2005-03-31 | 3.15% |
| 2004-12-31 | 2.41% |
| 2004-09-30 | 6.79% |
| 2004-06-30 | 6.68% |
| 2004-03-31 | 6.15% |
| 2003-12-31 | 5.64% |
| 2003-09-30 | 5.44% |
| 2003-06-30 | 5.40% |
