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 15.11% is 20% above its 5-year average of 12.56%, near the high end of its 5-year range (10.88%–15.11%).
As of the fiscal period ended Tuesday, June 30, 2026. 7.59% above its 12-month average of 14.04%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Quarter ended Jun 2026 (2026-06-30): 15.11%.
RETURN ON INVESTED CAPITAL (ROIC)
15.11%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
14.04%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
12.70%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
12.56%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
12.89%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
13.95%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
14.18%
CURRENT VS TTM AVG
+7.59%
CURRENT VS 3Y AVG
+18.95%
CURRENT VS 5Y AVG
+20.32%
CURRENT VS 10Y AVG
+17.21%
CURRENT VS 15Y AVG
+8.31%
CURRENT VS 20Y AVG
+6.52%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+72.77%
vs the sector median at left
Intuitive Surgical, Inc.
Market Cap
$124.79B
Return on Invested Capital (ROIC)
15.11%
TTM Avg
14.04%
3Y Avg
12.70%
5Y Avg
12.56%
Market Cap
$121.70B
Return on Invested Capital (ROIC)
4.14%
TTM Avg
4.18%
3Y Avg
4.49%
5Y Avg
4.97%
Market Cap
$131.57B
Return on Invested Capital (ROIC)
15.47%
TTM Avg
14.35%
3Y Avg
12.24%
5Y Avg
10.38%
Market Cap
$117.62B
Return on Invested Capital (ROIC)
6.44%
TTM Avg
6.11%
3Y Avg
5.46%
5Y Avg
5.53%
Market Cap
$132.26B
Return on Invested Capital (ROIC)
17.33%
TTM Avg
8.72%
3Y Avg
13.98%
5Y Avg
17.04%
Market Cap
$105.57B
Return on Invested Capital (ROIC)
9.82%
TTM Avg
10.14%
3Y Avg
10.34%
5Y Avg
10.08%
Market Cap
$144.11B
Return on Invested Capital (ROIC)
5.03%
TTM Avg
5.92%
3Y Avg
6.55%
5Y Avg
6.70%
Market Cap
$104.40B
Return on Invested Capital (ROIC)
28.34%
TTM Avg
27.87%
3Y Avg
25.19%
5Y Avg
21.44%
Market Cap
$102.89B
Return on Invested Capital (ROIC)
5.42%
TTM Avg
6.63%
3Y Avg
6.62%
5Y Avg
7.56%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Intuitive Surgical, Inc. (ISRG) | $124.79B | 15.11% | 14.04% | 12.70% | 12.56% |
| CVS Health Corp. (CVS)vs › | $121.70B | 4.14% | 4.18% | 4.49% | 4.97% |
| Bristol-Myers Squibb Company (BMY)vs › | $131.57B | 15.47% | 14.35% | 12.24% | 10.38% |
| Medtronic plc (MDT)vs › | $117.62B | 6.44% | 6.11% | 5.46% | 5.53% |
| Vertex Pharmaceuticals Incorporated (VRTX)vs › | $132.26B | 17.33% | 8.72% | 13.98% | 17.04% |
| Stryker Corporation (SYK)vs › | $105.57B | 9.82% | 10.14% | 10.34% | 10.08% |
| Danaher Corporation (DHR)vs › | $144.11B | 5.03% | 5.92% | 6.55% | 6.70% |
| McKesson Corporation (MCK)vs › | $104.40B | 28.34% | 27.87% | 25.19% | 21.44% |
| Sanofi (SNY)vs › | $102.89B | 5.42% | 6.63% | 6.62% | 7.56% |
| GSK plc (GSK)vs › | $97.43B | 13.95% | 12.57% | 12.55% | 10.41% |
ROIC
15.1%
ROE
17.3%
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 | 15.11% |
| 2026-03-31 | 14.82% |
| 2025-12-31 | 13.71% |
| 2025-09-30 | 14.02% |
| 2025-06-30 | 12.56% |
| 2025-03-31 | 12.36% |
| 2024-12-31 | 11.99% |
| 2024-09-30 | 12.20% |
| 2024-06-30 | 12.18% |
| 2024-03-31 | 12.35% |
| 2023-12-31 | 11.89% |
| 2023-09-30 | 10.88% |
| 2023-06-30 | 11.06% |
| 2023-03-31 | 10.89% |
| 2022-12-31 | 11.42% |
| 2022-09-30 | 11.48% |
| 2022-06-30 | 11.42% |
| 2022-03-31 | 13.00% |
| 2021-12-31 | 13.42% |
| 2021-09-30 | 13.69% |
| 2021-06-30 | 13.26% |
| 2021-03-31 | 9.79% |
| 2020-12-31 | 9.09% |
| 2020-09-30 | 9.41% |
| 2020-06-30 | 11.31% |
| 2020-03-31 | 14.31% |
| 2019-12-31 | 14.53% |
| 2019-09-30 | 14.63% |
| 2019-06-30 | 14.54% |
| 2019-03-31 | 15.01% |
| 2018-12-31 | 15.01% |
| 2018-09-30 | 11.98% |
| 2018-06-30 | 13.03% |
| 2018-03-31 | 13.39% |
| 2017-12-31 | 13.43% |
| 2017-09-30 | 17.47% |
| 2017-06-30 | 17.32% |
| 2017-03-31 | 18.15% |
| 2016-12-31 | 12.27% |
| 2016-09-30 | 12.62% |
| 2016-06-30 | 12.75% |
| 2016-03-31 | 12.63% |
| 2015-12-31 | 13.30% |
| 2015-09-30 | 13.04% |
| 2015-06-30 | 13.04% |
| 2015-03-31 | 13.05% |
| 2014-12-31 | 12.02% |
| 2014-09-30 | 13.93% |
| 2014-06-30 | 16.33% |
| 2014-03-31 | 13.72% |
| 2013-12-31 | 18.40% |
| 2013-09-30 | 20.45% |
| 2013-06-30 | 18.66% |
| 2013-03-31 | 17.88% |
| 2012-12-31 | 17.63% |
| 2012-09-30 | 18.86% |
| 2012-06-30 | 17.68% |
| 2012-03-31 | 17.93% |
| 2011-12-31 | 17.67% |
| 2011-09-30 | 19.20% |
| 2011-06-30 | 18.22% |
| 2011-03-31 | 17.40% |
| 2010-12-31 | 17.50% |
| 2010-09-30 | 15.70% |
| 2010-06-30 | 15.88% |
| 2010-03-31 | 15.14% |
| 2009-12-31 | 13.79% |
| 2009-09-30 | 13.36% |
| 2009-06-30 | 14.69% |
| 2009-03-31 | 14.32% |
| 2008-12-31 | 14.46% |
| 2008-09-30 | 15.26% |
| 2008-06-30 | 14.95% |
| 2008-03-31 | 14.40% |
| 2007-12-31 | 13.87% |
| 2007-09-30 | 12.74% |
| 2007-06-30 | 11.85% |
| 2007-03-31 | 11.16% |
| 2006-12-31 | 10.89% |
| 2006-09-30 | 16.18% |
| 2006-06-30 | 18.00% |
| 2006-03-31 | 17.38% |
| 2005-12-31 | 15.50% |
| 2005-09-30 | 13.72% |
| 2005-06-30 | 11.01% |
| 2005-03-31 | 8.67% |
| 2004-12-31 | 6.49% |
| 2004-09-30 | 1.53% |
| 2004-06-30 | -1.55% |
| 2004-03-31 | -2.95% |
| 2003-12-31 | -4.22% |
| 2003-09-30 | -4.45% |
| 2003-06-30 | -5.98% |
