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 10.94% is 11% above its 5-year average of 9.82%, near the high end of its 5-year range (9.08%–11.03%).
As of the fiscal period ended Sunday, July 5, 2026. 0.72% above its 12-month average of 10.86%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-07-05): 10.94%.
RETURN ON INVESTED CAPITAL (ROIC)
10.94%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
10.86%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
10.14%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
9.82%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
9.96%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
11.15%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
11.51%
CURRENT VS TTM AVG
+0.72%
CURRENT VS 3Y AVG
+7.83%
CURRENT VS 5Y AVG
+11.32%
CURRENT VS 10Y AVG
+9.81%
CURRENT VS 15Y AVG
-1.94%
CURRENT VS 20Y AVG
-4.96%
SECTOR MEDIAN · INDUSTRIALS
9.55%
median of 154 covered companies
CURRENT VS SECTOR MEDIAN
+14.46%
vs the sector median at left
General Dynamics Corporation
Market Cap
$97.02B
Return on Invested Capital (ROIC)
10.94%
TTM Avg
10.86%
3Y Avg
10.14%
5Y Avg
9.82%
Market Cap
$93.01B
Return on Invested Capital (ROIC)
19.89%
TTM Avg
19.84%
3Y Avg
17.77%
5Y Avg
15.20%
Market Cap
$92.21B
Return on Invested Capital (ROIC)
8.49%
TTM Avg
7.59%
3Y Avg
7.41%
5Y Avg
7.19%
Market Cap
$90.32B
Return on Invested Capital (ROIC)
20.78%
TTM Avg
16.59%
3Y Avg
12.27%
5Y Avg
10.46%
Market Cap
$90.14B
Return on Invested Capital (ROIC)
8.99%
TTM Avg
9.30%
3Y Avg
10.17%
5Y Avg
9.93%
Market Cap
$89.89B
Return on Invested Capital (ROIC)
18.58%
TTM Avg
16.88%
3Y Avg
13.48%
5Y Avg
11.66%
Market Cap
$86.97B
Return on Invested Capital (ROIC)
8.99%
TTM Avg
11.29%
3Y Avg
13.45%
5Y Avg
14.09%
Market Cap
$86.84B
Return on Invested Capital (ROIC)
9.01%
TTM Avg
8.59%
3Y Avg
9.20%
5Y Avg
8.88%
Market Cap
$84.92B
Return on Invested Capital (ROIC)
14.64%
TTM Avg
12.53%
3Y Avg
11.28%
5Y Avg
12.46%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| General Dynamics Corporation (GD) | $97.02B | 10.94% | 10.86% | 10.14% | 9.82% |
| Trane Technologies plc (TT)vs › | $93.01B | 19.89% | 19.84% | 17.77% | 15.20% |
| Quanta Services, Inc. (PWR)vs › | $92.21B | 8.49% | 7.59% | 7.41% | 7.19% |
| Vertiv Holdings Co (VRT)vs › | $90.32B | 20.78% | 16.59% | 12.27% | 10.46% |
| CSX Corporation (CSX)vs › | $90.14B | 8.99% | 9.30% | 10.17% | 9.93% |
| Howmet Aerospace Inc. (HWM)vs › | $89.89B | 18.58% | 16.88% | 13.48% | 11.66% |
| United Parcel Service, Inc. (UPS)vs › | $86.97B | 8.99% | 11.29% | 13.45% | 14.09% |
| Waste Management, Inc. (WM)vs › | $86.84B | 9.01% | 8.59% | 9.20% | 8.88% |
| 3M Company (MMM)vs › | $84.92B | 14.64% | 12.53% | 11.28% | 12.46% |
| Emerson Electric Co. (EMR)vs › | $82.31B | 7.93% | 6.36% | 6.09% | 7.57% |
ROIC
10.9%
ROE
16.7%
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) |
|---|---|
| 2026-07-05 | 10.94% |
| 2026-04-05 | 10.81% |
| 2025-12-31 | 10.66% |
| 2025-09-28 | 11.03% |
| 2025-06-29 | 10.84% |
| 2025-03-30 | 10.43% |
| 2024-12-31 | 10.10% |
| 2024-09-29 | 9.70% |
| 2024-06-30 | 9.60% |
| 2024-03-31 | 9.26% |
| 2023-12-31 | 9.08% |
| 2023-10-01 | 9.27% |
| 2023-07-02 | 9.45% |
| 2023-04-02 | 9.33% |
| 2022-12-31 | 9.43% |
| 2022-10-02 | 9.36% |
| 2022-07-03 | 9.35% |
| 2022-04-03 | 9.24% |
| 2021-12-31 | 9.44% |
| 2021-10-03 | 9.18% |
| 2021-07-04 | 9.16% |
| 2021-04-04 | 9.18% |
| 2020-12-31 | 9.07% |
| 2020-09-27 | 9.39% |
| 2020-06-28 | 9.61% |
| 2020-03-29 | 9.44% |
| 2019-12-31 | 11.02% |
| 2019-09-29 | 10.57% |
| 2019-06-30 | 10.46% |
| 2019-03-31 | 10.68% |
| 2018-12-31 | 11.58% |
| 2018-09-30 | 10.08% |
| 2018-07-01 | 9.43% |
| 2018-04-01 | 12.48% |
| 2017-12-31 | 13.70% |
| 2017-10-01 | 14.06% |
| 2017-07-02 | 14.73% |
| 2017-04-02 | 14.76% |
| 2016-12-31 | 14.16% |
| 2016-10-02 | 14.04% |
| 2016-07-03 | 14.47% |
| 2016-04-03 | 14.93% |
| 2015-12-31 | 15.06% |
| 2015-10-04 | 14.75% |
| 2015-07-05 | 14.11% |
| 2015-04-05 | 13.41% |
| 2014-12-31 | 12.37% |
| 2014-09-28 | 12.40% |
| 2014-06-29 | 11.93% |
| 2014-03-30 | 11.53% |
| 2013-12-31 | 10.94% |
| 2013-09-29 | 2.04% |
| 2013-06-30 | 1.95% |
| 2013-03-31 | 1.97% |
| 2012-12-31 | 2.02% |
| 2012-09-30 | 10.33% |
| 2012-07-01 | 10.72% |
| 2012-04-01 | 10.58% |
| 2011-12-31 | 11.05% |
| 2011-10-02 | 11.88% |
| 2011-07-03 | 12.05% |
| 2011-04-03 | 12.41% |
| 2010-12-31 | 12.35% |
| 2010-10-03 | 11.98% |
| 2010-07-04 | 11.76% |
| 2010-04-04 | 11.59% |
| 2009-12-31 | 11.76% |
| 2009-10-04 | 12.14% |
| 2009-07-05 | 12.94% |
| 2009-04-05 | 13.99% |
| 2008-12-31 | 13.27% |
| 2008-09-28 | 14.05% |
| 2008-06-29 | 13.50% |
| 2008-03-30 | 13.00% |
| 2007-12-31 | 12.32% |
| 2007-09-30 | 12.48% |
| 2007-07-01 | 12.25% |
| 2007-04-01 | 12.17% |
| 2006-12-31 | 12.20% |
| 2006-10-01 | 11.83% |
| 2006-07-02 | 11.19% |
| 2006-04-02 | 11.45% |
| 2005-12-31 | 11.39% |
| 2005-10-02 | 11.05% |
| 2005-07-03 | 11.15% |
| 2005-04-03 | 11.14% |
| 2004-12-31 | 10.66% |
| 2004-10-03 | 10.66% |
| 2004-07-04 | 10.24% |
| 2004-04-04 | 9.85% |
| 2003-12-31 | 9.42% |
| 2003-09-28 | 8.92% |
| 2003-06-29 | 10.48% |
