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 1.71% is 60% below its 5-year average of 4.24%, near the low end of its 5-year range (1.70%–7.08%).
As of the fiscal period ended Tuesday, June 30, 2026. 6.50% below its 12-month average of 1.83%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 1.71%.
RETURN ON INVESTED CAPITAL (ROIC)
1.71%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
1.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
2.66%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
4.24%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
2.17%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
3.11%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.77%
CURRENT VS TTM AVG
-6.50%
CURRENT VS 3Y AVG
-35.71%
CURRENT VS 5Y AVG
-59.70%
CURRENT VS 10Y AVG
-21.20%
CURRENT VS 15Y AVG
-44.92%
CURRENT VS 20Y AVG
-54.64%
SECTOR MEDIAN · TECHNOLOGY
7.78%
median of 215 covered companies
CURRENT VS SECTOR MEDIAN
-78.01%
vs the sector median at left
Nokia Oyj
Market Cap
$57.25B
Return on Invested Capital (ROIC)
1.71%
TTM Avg
1.83%
3Y Avg
2.66%
5Y Avg
4.24%
Market Cap
$58.27B
Return on Invested Capital (ROIC)
-2.24%
TTM Avg
-9.09%
3Y Avg
-6.87%
5Y Avg
-4.75%
Market Cap
$55.40B
Return on Invested Capital (ROIC)
11.56%
TTM Avg
4.13%
3Y Avg
4.91%
5Y Avg
6.51%
Market Cap
$60.05B
Return on Invested Capital (ROIC)
15.47%
TTM Avg
0.21%
3Y Avg
-13.24%
5Y Avg
-13.24%
Market Cap
$54.22B
Return on Invested Capital (ROIC)
18.76%
TTM Avg
16.46%
3Y Avg
15.58%
5Y Avg
15.92%
Market Cap
$61.44B
Return on Invested Capital (ROIC)
12.71%
TTM Avg
11.97%
3Y Avg
13.63%
5Y Avg
11.52%
Market Cap
$52.93B
Return on Invested Capital (ROIC)
N/A
TTM Avg
-3.67%
3Y Avg
-17.72%
5Y Avg
-16.03%
Market Cap
$51.11B
Return on Invested Capital (ROIC)
1.88%
TTM Avg
3.59%
3Y Avg
12.69%
5Y Avg
12.76%
Market Cap
$63.89B
Return on Invested Capital (ROIC)
13.59%
TTM Avg
11.73%
3Y Avg
12.72%
5Y Avg
13.02%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Nokia Oyj (NOK) | $57.25B | 1.71% | 1.83% | 2.66% | 4.24% |
| Nebius Group N.V. (NBIS)vs › | $58.27B | -2.24% | -9.09% | -6.87% | -4.75% |
| Ciena Corporation (CIEN)vs › | $55.40B | 11.56% | 4.13% | 4.91% | 6.51% |
| Astera Labs, Inc. Common Stock (ALAB)vs › | $60.05B | 15.47% | 0.21% | -13.24% | -13.24% |
| Garmin Ltd. (GRMN)vs › | $54.22B | 18.76% | 16.46% | 15.58% | 15.92% |
| NXP Semiconductors N.V. (NXPI)vs › | $61.44B | 12.71% | 11.97% | 13.63% | 11.52% |
| Strategy Inc (MSTR)vs › | $52.93B | N/A | -3.67% | -17.72% | -16.03% |
| STMicroelectronics N.V. (STM)vs › | $51.11B | 1.88% | 3.59% | 12.69% | 12.76% |
| TE Connectivity plc (TEL)vs › | $63.89B | 13.59% | 11.73% | 12.72% | 13.02% |
| Atlassian Corporation (TEAM)vs › | $49.35B | 0.22% | -2.17% | -6.29% | -2.37% |
ROIC
1.7%
ROE
3.4%
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 | 1.71% |
| 2026-03-31 | 2.08% |
| 2025-12-31 | 1.73% |
| 2025-09-30 | 1.70% |
| 2025-06-30 | 1.93% |
| 2025-03-31 | 2.90% |
| 2024-12-31 | 4.68% |
| 2024-09-30 | 3.19% |
| 2024-06-30 | 3.15% |
| 2024-03-31 | 3.12% |
| 2023-12-31 | 3.09% |
| 2023-09-30 | 6.42% |
| 2023-06-30 | 6.79% |
| 2023-03-31 | 7.01% |
| 2022-12-31 | 6.40% |
| 2022-09-30 | 7.08% |
| 2022-06-30 | 6.90% |
| 2022-03-31 | 6.57% |
| 2021-12-31 | 5.87% |
| 2021-09-30 | 3.78% |
| 2021-06-30 | 3.06% |
| 2021-03-31 | 3.01% |
| 2020-12-31 | 1.44% |
| 2020-09-30 | 2.89% |
| 2020-06-30 | 2.53% |
| 2020-03-31 | 1.77% |
| 2019-12-31 | 0.85% |
| 2019-09-30 | 0.90% |
| 2019-06-30 | -0.27% |
| 2019-03-31 | -0.89% |
| 2018-12-31 | -0.34% |
| 2018-09-30 | -0.77% |
| 2018-06-30 | -1.40% |
| 2018-03-31 | -0.68% |
| 2017-12-31 | 0.13% |
| 2017-09-30 | -0.36% |
| 2017-06-30 | 0.60% |
| 2017-03-31 | -1.70% |
| 2016-12-31 | -3.66% |
| 2016-09-30 | -2.55% |
| 2016-06-30 | -1.64% |
| 2016-03-31 | 1.25% |
| 2015-12-31 | 9.15% |
| 2015-09-30 | 8.39% |
| 2015-06-30 | 11.81% |
| 2015-03-31 | 10.81% |
| 2014-12-31 | 10.61% |
| 2014-09-30 | 12.52% |
| 2014-06-30 | 11.35% |
| 2014-03-31 | 9.35% |
| 2013-12-31 | 6.27% |
| 2013-09-30 | 2.61% |
| 2013-06-30 | -0.88% |
| 2013-03-31 | -6.08% |
| 2012-12-31 | -14.31% |
| 2012-09-30 | -24.11% |
| 2012-06-30 | -20.16% |
| 2012-03-31 | -15.84% |
| 2011-12-31 | -5.43% |
| 2011-09-30 | 1.93% |
| 2011-06-30 | 4.37% |
| 2011-03-31 | 7.00% |
| 2010-12-31 | 6.86% |
| 2010-09-30 | 7.87% |
| 2010-06-30 | 4.14% |
| 2010-03-31 | 4.27% |
| 2009-12-31 | 3.17% |
| 2009-09-30 | 1.51% |
| 2009-06-30 | 9.62% |
| 2009-03-31 | 12.78% |
| 2008-12-31 | 18.39% |
| 2008-09-30 | 24.35% |
| 2008-06-30 | 30.74% |
| 2008-03-31 | 31.50% |
| 2007-12-31 | 31.64% |
| 2007-09-30 | 32.27% |
| 2007-06-30 | 31.35% |
| 2007-03-31 | 31.44% |
| 2006-12-31 | 31.80% |
| 2006-09-30 | 32.76% |
| 2006-06-30 | 32.46% |
| 2006-03-31 | 32.03% |
| 2005-12-31 | 27.30% |
| 2005-09-30 | 26.19% |
| 2005-06-30 | 23.86% |
| 2005-03-31 | 22.25% |
| 2004-12-31 | 19.01% |
| 2004-09-30 | 21.51% |
| 2004-06-30 | 22.39% |
| 2004-03-31 | 21.32% |
| 2003-12-31 | 19.68% |
| 2003-09-30 | 19.99% |
| 2003-06-30 | 18.84% |
