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 14.64% is 14% above its 5-year average of 12.80%, around the middle of its 5-year range (0.15%–23.94%).
As of the fiscal period ended Tuesday, June 30, 2026. 11.15% above its 12-month average of 13.17%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
14.64%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
13.17%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
12.78%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
12.80%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
14.55%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
15.35%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
15.76%
CURRENT VS TTM AVG
+11.15%
CURRENT VS 3Y AVG
+14.58%
CURRENT VS 5Y AVG
+14.35%
CURRENT VS 10Y AVG
+0.60%
CURRENT VS 15Y AVG
-4.65%
CURRENT VS 20Y AVG
-7.13%
SECTOR MEDIAN · INDUSTRIALS
9.55%
median of 154 covered companies
CURRENT VS SECTOR MEDIAN
+53.19%
vs the sector median at left
3M Company
Market Cap
$86.39B
Return on Invested Capital (ROIC)
14.64%
TTM Avg
13.17%
3Y Avg
12.78%
5Y Avg
12.80%
Market Cap
$87.05B
Return on Invested Capital (ROIC)
9.01%
TTM Avg
8.59%
3Y Avg
9.20%
5Y Avg
8.88%
Market Cap
$85.36B
Return on Invested Capital (ROIC)
8.99%
TTM Avg
11.29%
3Y Avg
13.45%
5Y Avg
14.09%
Market Cap
$85.24B
Return on Invested Capital (ROIC)
7.93%
TTM Avg
6.36%
3Y Avg
6.09%
5Y Avg
7.57%
Market Cap
$90.77B
Return on Invested Capital (ROIC)
8.99%
TTM Avg
9.30%
3Y Avg
10.17%
5Y Avg
9.93%
Market Cap
$81.65B
Return on Invested Capital (ROIC)
7.65%
TTM Avg
1.50%
3Y Avg
-6.50%
5Y Avg
-6.96%
Market Cap
$80.23B
Return on Invested Capital (ROIC)
23.53%
TTM Avg
23.31%
3Y Avg
21.46%
5Y Avg
19.94%
Market Cap
$92.64B
Return on Invested Capital (ROIC)
18.58%
TTM Avg
16.88%
3Y Avg
13.48%
5Y Avg
11.66%
Market Cap
$80.11B
Return on Invested Capital (ROIC)
5.02%
TTM Avg
4.89%
3Y Avg
4.83%
5Y Avg
5.73%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| 3M Company (MMM) | $86.39B | 14.64% | 13.17% | 12.78% | 12.80% |
| Waste Management, Inc. (WM)vs › | $87.05B | 9.01% | 8.59% | 9.20% | 8.88% |
| United Parcel Service, Inc. (UPS)vs › | $85.36B | 8.99% | 11.29% | 13.45% | 14.09% |
| Emerson Electric Co. (EMR)vs › | $85.24B | 7.93% | 6.36% | 6.09% | 7.57% |
| CSX Corporation (CSX)vs › | $90.77B | 8.99% | 9.30% | 10.17% | 9.93% |
| Bloom Energy Corporation (BE)vs › | $81.65B | 7.65% | 1.50% | -6.50% | -6.96% |
| Cintas Corporation (CTAS)vs › | $80.23B | 23.53% | 23.31% | 21.46% | 19.94% |
| Howmet Aerospace Inc. (HWM)vs › | $92.64B | 18.58% | 16.88% | 13.48% | 11.66% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $80.11B | 5.02% | 4.89% | 4.83% | 5.73% |
| Cummins Inc. (CMI)vs › | $77.49B | 10.95% | 12.63% | 10.01% | 10.48% |
ROIC
14.6%
ROE
101.5%
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 | 14.64% |
| 2026-03-31 | 13.02% |
| 2025-12-31 | 12.06% |
| 2025-09-30 | 13.58% |
| 2025-06-30 | 12.55% |
| 2025-03-31 | 13.04% |
| 2024-12-31 | 13.46% |
| 2024-09-30 | 23.94% |
| 2024-06-30 | 15.08% |
| 2024-03-31 | 10.25% |
| 2023-12-31 | 11.57% |
| 2023-09-30 | 0.15% |
| 2023-06-30 | 11.27% |
| 2023-03-31 | 8.48% |
| 2022-12-31 | 9.48% |
| 2022-09-30 | 11.37% |
| 2022-06-30 | 11.63% |
| 2022-03-31 | 15.19% |
| 2021-12-31 | 15.73% |
| 2021-09-30 | 15.49% |
| 2021-06-30 | 15.32% |
| 2021-03-31 | 14.20% |
| 2020-12-31 | 13.35% |
| 2020-09-30 | 13.21% |
| 2020-06-30 | 13.26% |
| 2020-03-31 | 13.82% |
| 2019-12-31 | 14.60% |
| 2019-09-30 | 15.47% |
| 2019-06-30 | 17.67% |
| 2019-03-31 | 17.93% |
| 2018-12-31 | 19.28% |
| 2018-09-30 | 15.69% |
| 2018-06-30 | 15.23% |
| 2018-03-31 | 13.40% |
| 2017-12-31 | 14.13% |
| 2017-09-30 | 17.47% |
| 2017-06-30 | 17.76% |
| 2017-03-31 | 18.18% |
| 2016-12-31 | 18.50% |
| 2016-09-30 | 17.40% |
| 2016-06-30 | 17.62% |
| 2016-03-31 | 17.91% |
| 2015-12-31 | 17.83% |
| 2015-09-30 | 17.75% |
| 2015-06-30 | 19.20% |
| 2015-03-31 | 19.66% |
| 2014-12-31 | 20.00% |
| 2014-09-30 | 18.43% |
| 2014-06-30 | 17.31% |
| 2014-03-31 | 17.24% |
| 2013-12-31 | 17.29% |
| 2013-09-30 | 16.52% |
| 2013-06-30 | 16.06% |
| 2013-03-31 | 15.80% |
| 2012-12-31 | 16.01% |
| 2012-09-30 | 15.57% |
| 2012-06-30 | 15.92% |
| 2012-03-31 | 16.50% |
| 2011-12-31 | 16.62% |
| 2011-09-30 | 16.33% |
| 2011-06-30 | 16.40% |
| 2011-03-31 | 16.78% |
| 2010-12-31 | 16.90% |
| 2010-09-30 | 16.95% |
| 2010-06-30 | 17.40% |
| 2010-03-31 | 16.10% |
| 2009-12-31 | 14.68% |
| 2009-09-30 | 12.95% |
| 2009-06-30 | 13.71% |
| 2009-03-31 | 15.22% |
| 2008-12-31 | 16.91% |
| 2008-09-30 | 17.13% |
| 2008-06-30 | 17.40% |
| 2008-03-31 | 17.36% |
| 2007-12-31 | 20.78% |
| 2007-09-30 | 23.09% |
| 2007-06-30 | 24.65% |
| 2007-03-31 | 24.46% |
| 2006-12-31 | 23.98% |
| 2006-09-30 | 19.38% |
| 2006-06-30 | 19.44% |
| 2006-03-31 | 19.43% |
| 2005-12-31 | 20.22% |
| 2005-09-30 | 18.86% |
| 2005-06-30 | 20.46% |
| 2005-03-31 | 18.82% |
| 2004-12-31 | 18.33% |
| 2004-09-30 | 20.97% |
| 2004-06-30 | 20.28% |
| 2004-03-31 | 19.49% |
| 2003-12-31 | 18.17% |
| 2003-09-30 | 18.30% |
| 2003-06-30 | 17.84% |
