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 19.41% is in line with its 5-year average of 17.69%, near the high end of its 5-year range (12.68%–19.41%).
As of the fiscal period ended Tuesday, June 30, 2026. 3.60% above its 12-month average of 18.73%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 19.41%.
RETURN ON INVESTED CAPITAL (ROIC)
19.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
18.73%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
16.35%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
17.69%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
15.88%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
15.47%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
14.49%
CURRENT VS TTM AVG
+3.60%
CURRENT VS 3Y AVG
+18.70%
CURRENT VS 5Y AVG
+9.74%
CURRENT VS 10Y AVG
+22.19%
CURRENT VS 15Y AVG
+25.49%
CURRENT VS 20Y AVG
+33.97%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+121.96%
vs the sector median at left
HCA Healthcare, Inc.
Market Cap
$91.60B
Return on Invested Capital (ROIC)
19.41%
TTM Avg
18.73%
3Y Avg
16.35%
5Y Avg
17.69%
Market Cap
$90.77B
Return on Invested Capital (ROIC)
6.34%
TTM Avg
6.70%
3Y Avg
7.11%
5Y Avg
7.33%
Market Cap
$99.95B
Return on Invested Capital (ROIC)
13.95%
TTM Avg
12.57%
3Y Avg
12.55%
5Y Avg
10.41%
Market Cap
$102.48B
Return on Invested Capital (ROIC)
5.42%
TTM Avg
6.63%
3Y Avg
6.62%
5Y Avg
7.56%
Market Cap
$80.01B
Return on Invested Capital (ROIC)
9.19%
TTM Avg
9.70%
3Y Avg
12.91%
5Y Avg
18.41%
Market Cap
$104.67B
Return on Invested Capital (ROIC)
28.34%
TTM Avg
27.87%
3Y Avg
25.19%
5Y Avg
21.44%
Market Cap
$106.77B
Return on Invested Capital (ROIC)
9.82%
TTM Avg
10.14%
3Y Avg
10.34%
5Y Avg
10.08%
Market Cap
$76.15B
Return on Invested Capital (ROIC)
7.69%
TTM Avg
7.02%
3Y Avg
7.07%
5Y Avg
6.51%
Market Cap
$65.30B
Return on Invested Capital (ROIC)
10.57%
TTM Avg
7.46%
3Y Avg
6.12%
5Y Avg
5.55%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| HCA Healthcare, Inc. (HCA) | $91.60B | 19.41% | 18.73% | 16.35% | 17.69% |
| Elevance Health Inc. (ELV)vs › | $90.77B | 6.34% | 6.70% | 7.11% | 7.33% |
| GSK plc (GSK)vs › | $99.95B | 13.95% | 12.57% | 12.55% | 10.41% |
| Sanofi (SNY)vs › | $102.48B | 5.42% | 6.63% | 6.62% | 7.56% |
| Regeneron Pharmaceuticals, Inc. (REGN)vs › | $80.01B | 9.19% | 9.70% | 12.91% | 18.41% |
| McKesson Corporation (MCK)vs › | $104.67B | 28.34% | 27.87% | 25.19% | 21.44% |
| Stryker Corporation (SYK)vs › | $106.77B | 9.82% | 10.14% | 10.34% | 10.08% |
| Cigna Corporation (CI)vs › | $76.15B | 7.69% | 7.02% | 7.07% | 6.51% |
| Boston Scientific Corporation (BSX)vs › | $65.30B | 10.57% | 7.46% | 6.12% | 5.55% |
| Medtronic plc (MDT)vs › | $119.48B | 6.44% | 6.11% | 5.46% | 5.53% |
ROIC
19.4%
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 | 19.41% |
| 2026-03-31 | 18.84% |
| 2025-12-31 | 18.53% |
| 2025-09-30 | 19.07% |
| 2025-06-30 | 17.83% |
| 2025-03-31 | 16.94% |
| 2024-12-31 | 16.80% |
| 2024-09-30 | 16.68% |
| 2024-06-30 | 13.30% |
| 2024-03-31 | 12.93% |
| 2023-12-31 | 12.95% |
| 2023-09-30 | 12.68% |
| 2023-06-30 | 16.62% |
| 2023-03-31 | 16.77% |
| 2022-12-31 | 16.81% |
| 2022-09-30 | 16.96% |
| 2022-06-30 | 17.16% |
| 2022-03-31 | 17.38% |
| 2021-12-31 | 18.36% |
| 2021-09-30 | 19.28% |
| 2021-06-30 | 17.25% |
| 2021-03-31 | 16.61% |
| 2020-12-31 | 15.05% |
| 2020-09-30 | 14.83% |
| 2020-06-30 | 15.83% |
| 2020-03-31 | 14.11% |
| 2019-12-31 | 15.24% |
| 2019-09-30 | 15.48% |
| 2019-06-30 | 14.76% |
| 2019-03-31 | 15.58% |
| 2018-12-31 | 16.85% |
| 2018-09-30 | 14.77% |
| 2018-06-30 | 13.60% |
| 2018-03-31 | 13.03% |
| 2017-12-31 | 12.38% |
| 2017-09-30 | 13.68% |
| 2017-06-30 | 15.03% |
| 2017-03-31 | 15.34% |
| 2016-12-31 | 15.72% |
| 2016-09-30 | 15.66% |
| 2016-06-30 | 15.21% |
| 2016-03-31 | 15.26% |
| 2015-12-31 | 14.80% |
| 2015-09-30 | 14.65% |
| 2015-06-30 | 14.72% |
| 2015-03-31 | 15.21% |
| 2014-12-31 | 14.56% |
| 2014-09-30 | 14.36% |
| 2014-06-30 | 14.03% |
| 2014-03-31 | 13.07% |
| 2013-12-31 | 13.57% |
| 2013-09-30 | 13.53% |
| 2013-06-30 | 13.78% |
| 2013-03-31 | 13.64% |
| 2012-12-31 | 14.23% |
| 2012-09-30 | 15.82% |
| 2012-05-30 | 16.30% |
| 2012-03-31 | 15.86% |
| 2011-12-31 | 15.71% |
| 2011-09-30 | 15.15% |
| 2011-06-30 | 14.01% |
| 2011-03-31 | 14.40% |
| 2010-12-31 | 14.56% |
| 2010-09-30 | 14.53% |
| 2010-06-30 | 13.89% |
| 2010-03-31 | 13.11% |
| 2009-12-31 | 12.63% |
| 2009-09-30 | 13.00% |
| 2009-06-30 | 12.08% |
| 2009-03-31 | 11.68% |
| 2008-12-31 | 10.69% |
| 2008-09-30 | 10.35% |
| 2008-06-30 | 10.56% |
| 2008-03-31 | 10.28% |
| 2007-12-31 | 10.95% |
| 2007-09-30 | 10.78% |
| 2007-06-30 | 9.54% |
| 2007-03-31 | 9.54% |
| 2006-12-31 | 9.40% |
| 2006-09-30 | 8.93% |
| 2006-06-30 | 9.19% |
| 2006-03-31 | 9.97% |
| 2005-12-31 | 10.17% |
| 2005-09-30 | 10.17% |
| 2005-06-30 | 9.90% |
| 2005-03-31 | 9.52% |
| 2004-12-31 | 9.13% |
| 2004-09-30 | 9.01% |
| 2004-06-30 | 9.23% |
| 2004-03-31 | 8.65% |
| 2003-12-31 | 9.31% |
| 2003-09-30 | 6.99% |
| 2003-06-30 | 6.65% |
