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 18.76% is 15% above its 5-year average of 16.27%, near the high end of its 5-year range (13.61%–18.76%).
As of the fiscal period ended Saturday, June 27, 2026. 8.03% above its 12-month average of 17.37%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-27): 18.76%.
RETURN ON INVESTED CAPITAL (ROIC)
18.76%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
17.37%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
16.39%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
16.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
16.06%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
15.06%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
15.98%
CURRENT VS TTM AVG
+8.03%
CURRENT VS 3Y AVG
+14.47%
CURRENT VS 5Y AVG
+15.31%
CURRENT VS 10Y AVG
+16.86%
CURRENT VS 15Y AVG
+24.57%
CURRENT VS 20Y AVG
+17.45%
SECTOR MEDIAN · TECHNOLOGY
8.17%
median of 193 covered companies
CURRENT VS SECTOR MEDIAN
+129.66%
vs the sector median at left
Garmin Ltd.
Market Cap
$54.51B
Return on Invested Capital (ROIC)
18.76%
TTM Avg
17.37%
3Y Avg
16.39%
5Y Avg
16.27%
Market Cap
$53.89B
Return on Invested Capital (ROIC)
-2.24%
TTM Avg
-9.09%
3Y Avg
-6.87%
5Y Avg
-4.75%
Market Cap
$56.47B
Return on Invested Capital (ROIC)
8.07%
TTM Avg
8.05%
3Y Avg
11.99%
5Y Avg
11.16%
Market Cap
$57.87B
Return on Invested Capital (ROIC)
12.04%
TTM Avg
7.80%
3Y Avg
11.92%
5Y Avg
12.12%
Market Cap
$49.92B
Return on Invested Capital (ROIC)
15.47%
TTM Avg
0.21%
3Y Avg
-13.24%
5Y Avg
-13.24%
Market Cap
$59.37B
Return on Invested Capital (ROIC)
30.79%
TTM Avg
17.85%
3Y Avg
18.95%
5Y Avg
22.86%
Market Cap
$49.48B
Return on Invested Capital (ROIC)
11.56%
TTM Avg
4.13%
3Y Avg
4.91%
5Y Avg
6.51%
Market Cap
$59.67B
Return on Invested Capital (ROIC)
12.71%
TTM Avg
11.97%
3Y Avg
13.63%
5Y Avg
11.52%
Market Cap
$59.74B
Return on Invested Capital (ROIC)
5.11%
TTM Avg
3.84%
3Y Avg
2.70%
5Y Avg
3.59%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Garmin Ltd. (GRMN) | $54.51B | 18.76% | 17.37% | 16.39% | 16.27% |
| Nebius Group N.V. (NBIS)vs › | $53.89B | -2.24% | -9.09% | -6.87% | -4.75% |
| United Microelectronics Corporation (UMC)vs › | $56.47B | 8.07% | 8.05% | 11.99% | 11.16% |
| Keysight Technologies, Inc. (KEYS)vs › | $57.87B | 12.04% | 7.80% | 11.92% | 12.12% |
| Astera Labs, Inc. Common Stock (ALAB)vs › | $49.92B | 15.47% | 0.21% | -13.24% | -13.24% |
| Teradyne, Inc. (TER)vs › | $59.37B | 30.79% | 17.85% | 18.95% | 22.86% |
| Ciena Corporation (CIEN)vs › | $49.48B | 11.56% | 4.13% | 4.91% | 6.51% |
| NXP Semiconductors N.V. (NXPI)vs › | $59.67B | 12.71% | 11.97% | 13.63% | 11.52% |
| Coherent, Inc. (COHR)vs › | $59.74B | 5.11% | 3.84% | 2.70% | 3.59% |
| Workday, Inc. (WDAY)vs › | $48.64B | 11.40% | 4.37% | 1.96% | 0.29% |
ROIC
18.8%
ROE
20.8%
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) |
|---|---|
| 2026-06-27 | 18.76% |
| 2026-03-28 | 17.07% |
| 2025-12-27 | 16.65% |
| 2025-09-27 | 16.80% |
| 2025-06-28 | 17.56% |
| 2025-03-29 | 16.08% |
| 2024-12-31 | 16.34% |
| 2024-09-28 | 17.74% |
| 2024-06-29 | 17.24% |
| 2024-03-30 | 15.88% |
| 2023-12-31 | 14.98% |
| 2023-09-30 | 13.93% |
| 2023-07-01 | 14.06% |
| 2023-04-01 | 13.61% |
| 2022-12-31 | 14.41% |
| 2022-09-24 | 16.10% |
| 2022-06-25 | 16.69% |
| 2022-03-26 | 16.47% |
| 2021-12-31 | 17.06% |
| 2021-09-25 | 18.02% |
| 2021-06-26 | 19.31% |
| 2021-03-27 | 16.59% |
| 2020-12-31 | 16.16% |
| 2020-09-26 | 17.68% |
| 2020-06-27 | 17.88% |
| 2020-03-28 | 17.97% |
| 2019-12-31 | 17.78% |
| 2019-09-28 | 15.88% |
| 2019-06-29 | 15.50% |
| 2019-03-30 | 14.26% |
| 2018-12-31 | 14.71% |
| 2018-09-29 | 14.43% |
| 2018-06-30 | 13.98% |
| 2018-03-31 | 12.67% |
| 2017-12-31 | 16.00% |
| 2017-09-30 | 16.28% |
| 2017-07-01 | 16.73% |
| 2017-04-01 | 15.80% |
| 2016-12-31 | 13.52% |
| 2016-09-24 | 13.71% |
| 2016-06-25 | 13.04% |
| 2016-03-26 | 11.59% |
| 2015-12-31 | 12.17% |
| 2015-09-26 | 14.42% |
| 2015-06-27 | 10.01% |
| 2015-03-28 | 10.09% |
| 2014-12-31 | 10.38% |
| 2014-09-27 | 10.66% |
| 2014-06-28 | 16.00% |
| 2014-03-29 | 13.67% |
| 2013-12-31 | 13.53% |
| 2013-09-28 | 13.71% |
| 2013-06-29 | 13.22% |
| 2013-03-30 | 13.43% |
| 2012-12-31 | 13.42% |
| 2012-09-29 | 15.44% |
| 2012-06-30 | 15.90% |
| 2012-03-31 | 13.32% |
| 2011-12-31 | 13.67% |
| 2011-09-24 | 13.83% |
| 2011-06-25 | 16.99% |
| 2011-03-26 | 18.11% |
| 2010-12-31 | 19.18% |
| 2010-09-25 | 24.09% |
| 2010-06-26 | 23.85% |
| 2010-03-27 | 24.64% |
| 2009-12-31 | 21.78% |
| 2009-09-26 | 21.08% |
| 2009-06-27 | 20.82% |
| 2009-03-28 | 23.99% |
| 2008-12-31 | 28.25% |
| 2008-09-27 | 33.77% |
| 2008-06-28 | 32.30% |
| 2008-03-29 | 31.06% |
| 2007-12-31 | 31.85% |
| 2007-09-29 | 33.49% |
| 2007-06-30 | 30.32% |
| 2007-03-31 | 29.04% |
| 2006-12-31 | 30.75% |
| 2006-09-30 | 28.75% |
| 2006-07-01 | 27.58% |
| 2006-04-01 | 23.79% |
| 2005-12-31 | 23.24% |
| 2005-09-24 | 22.70% |
| 2005-06-25 | 21.91% |
| 2005-03-26 | 23.06% |
| 2004-12-31 | 23.18% |
| 2004-09-25 | 23.46% |
| 2004-06-26 | 21.50% |
| 2004-03-27 | 22.24% |
| 2003-12-31 | 23.85% |
| 2003-09-27 | 25.19% |
| 2003-06-28 | 23.34% |
