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 38.57% is in line with its 5-year average of 37.26%, around the middle of its 5-year range (32.94%–41.06%).
As of the fiscal period ended Tuesday, June 30, 2026. 4.06% above its 12-month average of 37.07%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
38.57%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
37.07%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
37.82%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
37.26%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
32.03%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
28.55%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
26.04%
CURRENT VS TTM AVG
+4.06%
CURRENT VS 3Y AVG
+2.00%
CURRENT VS 5Y AVG
+3.51%
CURRENT VS 10Y AVG
+20.40%
CURRENT VS 15Y AVG
+35.09%
CURRENT VS 20Y AVG
+48.14%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+341.07%
vs the sector median at left
Mettler-Toledo International Inc.
Market Cap
$26.79B
Return on Invested Capital (ROIC)
38.57%
TTM Avg
37.07%
3Y Avg
37.82%
5Y Avg
37.26%
Market Cap
$26.64B
Return on Invested Capital (ROIC)
8.02%
TTM Avg
6.33%
3Y Avg
5.68%
5Y Avg
7.63%
Market Cap
$25.99B
Return on Invested Capital (ROIC)
8.25%
TTM Avg
7.70%
3Y Avg
8.24%
5Y Avg
10.04%
Market Cap
$25.22B
Return on Invested Capital (ROIC)
22.95%
TTM Avg
10.25%
3Y Avg
9.28%
5Y Avg
7.08%
Market Cap
$24.78B
Return on Invested Capital (ROIC)
-10.37%
TTM Avg
-4.85%
3Y Avg
9.52%
5Y Avg
19.51%
Market Cap
$29.33B
Return on Invested Capital (ROIC)
4.05%
TTM Avg
6.03%
3Y Avg
5.27%
5Y Avg
5.27%
Market Cap
$23.79B
Return on Invested Capital (ROIC)
15.77%
TTM Avg
14.65%
3Y Avg
16.96%
5Y Avg
17.76%
Market Cap
$30.13B
Return on Invested Capital (ROIC)
1.34%
TTM Avg
18.13%
3Y Avg
20.89%
5Y Avg
23.01%
Market Cap
$30.16B
Return on Invested Capital (ROIC)
6.94%
TTM Avg
7.96%
3Y Avg
8.07%
5Y Avg
9.18%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Mettler-Toledo International Inc. (MTD) | $26.79B | 38.57% | 37.07% | 37.82% | 37.26% |
| Labcorp Holdings Inc. (LH)vs › | $26.64B | 8.02% | 6.33% | 5.68% | 7.63% |
| Quest Diagnostics Incorporated (DGX)vs › | $25.99B | 8.25% | 7.70% | 8.24% | 10.04% |
| Incyte Corporation (INCY)vs › | $25.22B | 22.95% | 10.25% | 9.28% | 7.08% |
| BioNTech SE (BNTX)vs › | $24.78B | -10.37% | -4.85% | 9.52% | 19.51% |
| Medline Inc. (MDLN)vs › | $29.33B | 4.05% | 6.03% | 5.27% | 5.27% |
| West Pharmaceutical Services, Inc. (WST)vs › | $23.79B | 15.77% | 14.65% | 16.96% | 17.76% |
| Waters Corporation (WAT)vs › | $30.13B | 1.34% | 18.13% | 20.89% | 23.01% |
| GE HealthCare Technologies Inc. (GEHC)vs › | $30.16B | 6.94% | 7.96% | 8.07% | 9.18% |
| Zoetis Inc. (ZTS)vs › | $30.86B | 21.63% | 21.87% | 20.30% | 19.27% |
ROIC
38.6%
ROE
7062.4%
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 | 38.57% |
| 2026-03-31 | 36.09% |
| 2025-12-31 | 35.46% |
| 2025-09-30 | 37.44% |
| 2025-06-30 | 37.77% |
| 2025-03-31 | 40.35% |
| 2024-12-31 | 41.06% |
| 2024-09-30 | 37.94% |
| 2024-06-30 | 38.44% |
| 2024-03-31 | 37.19% |
| 2023-12-31 | 36.51% |
| 2023-09-30 | 39.41% |
| 2023-06-30 | 38.62% |
| 2023-03-31 | 37.45% |
| 2022-12-31 | 37.01% |
| 2022-09-30 | 38.63% |
| 2022-06-30 | 37.04% |
| 2022-03-31 | 34.98% |
| 2021-12-31 | 34.85% |
| 2021-09-30 | 34.76% |
| 2021-06-30 | 32.94% |
| 2021-03-31 | 30.58% |
| 2020-12-31 | 31.18% |
| 2020-09-30 | 29.68% |
| 2020-06-30 | 28.65% |
| 2020-03-31 | 25.84% |
| 2019-12-31 | 28.69% |
| 2019-09-30 | 29.28% |
| 2019-06-30 | 28.37% |
| 2019-03-31 | 28.04% |
| 2018-12-31 | 27.77% |
| 2018-09-30 | 22.91% |
| 2018-06-30 | 21.74% |
| 2018-03-31 | 21.47% |
| 2017-12-31 | 21.30% |
| 2017-09-30 | 24.77% |
| 2017-06-30 | 27.08% |
| 2017-03-31 | 26.38% |
| 2016-12-31 | 25.91% |
| 2016-09-30 | 24.92% |
| 2016-06-30 | 26.36% |
| 2016-03-31 | 25.50% |
| 2015-12-31 | 26.95% |
| 2015-09-30 | 25.43% |
| 2015-06-30 | 24.10% |
| 2015-03-31 | 25.30% |
| 2014-12-31 | 25.10% |
| 2014-09-30 | 22.52% |
| 2014-06-30 | 21.38% |
| 2014-03-31 | 20.92% |
| 2013-12-31 | 21.22% |
| 2013-09-30 | 20.63% |
| 2013-06-30 | 20.08% |
| 2013-03-31 | 20.22% |
| 2012-12-31 | 21.42% |
| 2012-09-30 | 19.95% |
| 2012-06-30 | 19.41% |
| 2012-03-31 | 18.37% |
| 2011-12-31 | 18.00% |
| 2011-09-30 | 16.45% |
| 2011-06-30 | 15.33% |
| 2011-03-31 | 14.68% |
| 2010-12-31 | 14.51% |
| 2010-09-30 | 84.62% |
| 2010-06-30 | 86.94% |
| 2010-03-31 | 85.59% |
| 2009-12-31 | 88.90% |
| 2009-09-30 | 16.86% |
| 2009-06-30 | 17.30% |
| 2009-03-31 | 18.17% |
| 2008-12-31 | 18.29% |
| 2008-09-30 | 17.27% |
| 2008-06-30 | 16.28% |
| 2008-03-31 | 15.33% |
| 2007-12-31 | 15.56% |
| 2007-09-30 | 20.44% |
| 2007-06-30 | 19.23% |
| 2007-03-31 | 18.39% |
| 2006-12-31 | 17.27% |
| 2006-09-30 | 12.98% |
| 2006-06-30 | 10.58% |
| 2006-03-31 | 10.48% |
| 2005-12-31 | 10.04% |
| 2005-09-30 | 11.50% |
| 2005-06-30 | 11.20% |
| 2005-03-31 | 10.53% |
| 2004-12-31 | 10.28% |
| 2004-09-30 | 10.84% |
| 2004-06-30 | 10.69% |
| 2004-03-31 | 10.42% |
| 2003-12-31 | 10.11% |
| 2003-09-30 | 10.61% |
| 2003-06-30 | 10.52% |
