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 -38.03% is in line with its 5-year average of -35.39%, around the middle of its 5-year range (-65.43%–-26.28%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.41% below its 12-month average of -36.08%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): -38.03%.
RETURN ON INVESTED CAPITAL (ROIC)
-38.03%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
-36.08%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
-37.08%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
-35.39%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
-5.41%
CURRENT VS 3Y AVG
-2.56%
CURRENT VS 5Y AVG
-7.44%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · HEALTHCARE
-35.64%
median of 838 covered companies
CURRENT VS SECTOR MEDIAN
-6.69%
vs the sector median at left
Erasca, Inc.
Market Cap
$4.96B
Return on Invested Capital (ROIC)
-38.03%
TTM Avg
-36.08%
3Y Avg
-37.08%
5Y Avg
-35.39%
Market Cap
$5.06B
Return on Invested Capital (ROIC)
3.38%
TTM Avg
2.84%
3Y Avg
2.70%
5Y Avg
2.42%
Market Cap
$5.07B
Return on Invested Capital (ROIC)
5.80%
TTM Avg
5.65%
3Y Avg
5.40%
5Y Avg
4.23%
Market Cap
$5.09B
Return on Invested Capital (ROIC)
-90.04%
TTM Avg
-83.71%
3Y Avg
-67.61%
5Y Avg
-57.95%
Market Cap
$4.84B
Return on Invested Capital (ROIC)
-13.88%
TTM Avg
-24.38%
3Y Avg
-22.93%
5Y Avg
-25.00%
Market Cap
$4.83B
Return on Invested Capital (ROIC)
-13.09%
TTM Avg
-9.79%
3Y Avg
-21.15%
5Y Avg
-33.38%
Market Cap
$4.78B
Return on Invested Capital (ROIC)
-18.48%
TTM Avg
-32.11%
3Y Avg
-33.07%
5Y Avg
-32.00%
Market Cap
$5.19B
Return on Invested Capital (ROIC)
-50.09%
TTM Avg
-69.73%
3Y Avg
-67.26%
5Y Avg
-56.46%
Market Cap
$5.20B
Return on Invested Capital (ROIC)
15.35%
TTM Avg
17.38%
3Y Avg
14.85%
5Y Avg
17.21%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Erasca, Inc. (ERAS) | $4.96B | -38.03% | -36.08% | -37.08% | -35.39% |
| Waystar Holding Corp. (WAY)vs › | $5.06B | 3.38% | 2.84% | 2.70% | 2.42% |
| Merit Medical Systems, Inc. (MMSI)vs › | $5.07B | 5.80% | 5.65% | 5.40% | 4.23% |
| Scholar Rock Holding Corporation (SRRK)vs › | $5.09B | -90.04% | -83.71% | -67.61% | -57.95% |
| Oruka Therapeutics, Inc. (ORKA)vs › | $4.84B | -13.88% | -24.38% | -22.93% | -25.00% |
| Mirum Pharmaceuticals, Inc. (MIRM)vs › | $4.83B | -13.09% | -9.79% | -21.15% | -33.38% |
| Dianthus Therapeutics, Inc. (DNTH)vs › | $4.78B | -18.48% | -32.11% | -33.07% | -32.00% |
| Cogent Biosciences, Inc. (COGT)vs › | $5.19B | -50.09% | -69.73% | -67.26% | -56.46% |
| Doximity, Inc. (DOCS)vs › | $5.20B | 15.35% | 17.38% | 14.85% | 17.21% |
| Definium Therapeutics, Inc. (DFTX)vs › | $4.73B | -23.81% | -42.00% | -57.33% | -55.42% |
ROIC
-38.0%
ROE
-79.4%
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 | -38.03% |
| 2026-03-31 | -32.95% |
| 2025-12-31 | -38.33% |
| 2025-09-30 | -36.31% |
| 2025-06-30 | -34.77% |
| 2025-03-31 | -39.56% |
| 2024-12-31 | -38.12% |
| 2024-09-30 | -35.63% |
| 2024-06-30 | -34.97% |
| 2024-03-31 | -40.86% |
| 2023-12-31 | -38.34% |
| 2023-09-30 | -62.58% |
| 2023-06-30 | -59.43% |
| 2023-03-31 | -56.10% |
| 2022-12-31 | -53.08% |
| 2022-09-30 | -33.53% |
| 2022-06-30 | -35.38% |
| 2022-03-31 | -31.22% |
| 2021-12-31 | -26.28% |
| 2021-09-30 | -32.01% |
| 2021-06-30 | -65.43% |
| 2021-03-31 | -49.21% |
| 2020-12-31 | -98.30% |
