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 17.31% is 22% above its 5-year average of 14.21%, near the high end of its 5-year range (8.36%–17.44%).
As of the fiscal period ended Tuesday, June 30, 2026. 0.59% above its 12-month average of 17.21%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 17.31%.
RETURN ON INVESTED CAPITAL (ROIC)
17.31%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
17.21%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
16.36%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
14.21%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
14.87%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
16.28%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
17.23%
CURRENT VS TTM AVG
+0.59%
CURRENT VS 3Y AVG
+5.82%
CURRENT VS 5Y AVG
+21.77%
CURRENT VS 10Y AVG
+16.38%
CURRENT VS 15Y AVG
+6.30%
CURRENT VS 20Y AVG
+0.44%
SECTOR MEDIAN · TECHNOLOGY
7.68%
median of 221 covered companies
CURRENT VS SECTOR MEDIAN
+125.36%
vs the sector median at left
NetEase, Inc.
Market Cap
$74.83B
Return on Invested Capital (ROIC)
17.31%
TTM Avg
17.21%
3Y Avg
16.36%
5Y Avg
14.21%
Market Cap
$74.27B
Return on Invested Capital (ROIC)
16.59%
TTM Avg
18.95%
3Y Avg
19.16%
5Y Avg
18.05%
Market Cap
$76.89B
Return on Invested Capital (ROIC)
16.82%
TTM Avg
15.82%
3Y Avg
13.53%
5Y Avg
13.05%
Market Cap
$70.73B
Return on Invested Capital (ROIC)
18.22%
TTM Avg
15.76%
3Y Avg
18.62%
5Y Avg
17.70%
Market Cap
$70.20B
Return on Invested Capital (ROIC)
30.79%
TTM Avg
17.85%
3Y Avg
18.95%
5Y Avg
22.86%
Market Cap
$65.94B
Return on Invested Capital (ROIC)
5.11%
TTM Avg
3.84%
3Y Avg
2.70%
5Y Avg
3.59%
Market Cap
$65.73B
Return on Invested Capital (ROIC)
12.04%
TTM Avg
7.80%
3Y Avg
11.92%
5Y Avg
12.12%
Market Cap
$65.53B
Return on Invested Capital (ROIC)
8.07%
TTM Avg
8.05%
3Y Avg
11.99%
5Y Avg
11.16%
Market Cap
$84.45B
Return on Invested Capital (ROIC)
8.17%
TTM Avg
1.58%
3Y Avg
-2.18%
5Y Avg
0.95%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| NetEase, Inc. (NTES) | $74.83B | 17.31% | 17.21% | 16.36% | 14.21% |
| Motorola Solutions, Inc. (MSI)vs › | $74.27B | 16.59% | 18.95% | 19.16% | 18.05% |
| Intuit Inc. (INTU)vs › | $76.89B | 16.82% | 15.82% | 13.53% | 13.05% |
| Monolithic Power Systems, Inc. (MPWR)vs › | $70.73B | 18.22% | 15.76% | 18.62% | 17.70% |
| Teradyne, Inc. (TER)vs › | $70.20B | 30.79% | 17.85% | 18.95% | 22.86% |
| Coherent, Inc. (COHR)vs › | $65.94B | 5.11% | 3.84% | 2.70% | 3.59% |
| Keysight Technologies, Inc. (KEYS)vs › | $65.73B | 12.04% | 7.80% | 11.92% | 12.12% |
| United Microelectronics Corporation (UMC)vs › | $65.53B | 8.07% | 8.05% | 11.99% | 11.16% |
| Lumentum Holdings Inc. (LITE)vs › | $84.45B | 8.17% | 1.58% | -2.18% | 0.95% |
| TE Connectivity plc (TEL)vs › | $63.89B | 13.59% | 11.73% | 12.72% | 13.02% |
ROIC
17.3%
ROE
19.0%
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 | 17.31% |
| 2026-03-31 | 16.97% |
| 2025-12-31 | 17.04% |
| 2025-09-30 | 17.44% |
| 2025-06-30 | 17.27% |
| 2025-03-31 | 17.12% |
| 2024-12-31 | 16.06% |
| 2024-09-30 | 15.85% |
| 2024-06-30 | 16.49% |
| 2024-03-31 | 15.30% |
| 2023-12-31 | 15.72% |
| 2023-09-30 | 15.94% |
| 2023-06-30 | 14.11% |
| 2023-03-31 | 11.53% |
| 2022-12-31 | 11.40% |
| 2022-09-30 | 12.22% |
| 2022-06-30 | 11.39% |
| 2022-03-31 | 10.83% |
| 2021-12-31 | 10.62% |
| 2021-09-30 | 9.51% |
| 2021-06-30 | 8.36% |
| 2021-03-31 | 9.14% |
| 2020-12-31 | 9.62% |
| 2020-09-30 | 9.52% |
| 2020-06-30 | 10.34% |
| 2020-03-31 | 13.01% |
| 2019-12-31 | 12.56% |
| 2019-09-30 | 12.52% |
| 2019-06-30 | 12.45% |
| 2019-03-31 | 11.24% |
| 2018-12-31 | 9.62% |
| 2018-09-30 | 10.03% |
| 2018-06-30 | 11.02% |
| 2018-03-31 | 12.26% |
| 2017-12-31 | 18.11% |
| 2017-09-30 | 22.59% |
| 2017-06-30 | 24.06% |
| 2017-03-31 | 26.25% |
| 2016-12-31 | 26.06% |
| 2016-09-30 | 25.33% |
| 2016-06-30 | 25.55% |
| 2016-03-31 | 22.20% |
| 2015-12-31 | 19.78% |
| 2015-09-30 | 18.11% |
| 2015-06-30 | 16.26% |
| 2015-03-31 | 16.66% |
| 2014-12-31 | 16.35% |
| 2014-09-30 | 16.91% |
| 2014-06-30 | 17.38% |
| 2014-03-31 | 17.88% |
| 2013-12-31 | 18.04% |
| 2013-09-30 | 18.42% |
| 2013-06-30 | 18.03% |
| 2013-03-31 | 18.12% |
| 2012-12-31 | 19.63% |
| 2012-09-30 | 19.14% |
| 2012-06-30 | 21.16% |
| 2012-03-31 | 21.89% |
| 2011-12-31 | 22.10% |
| 2011-09-30 | 23.03% |
| 2011-06-30 | 22.38% |
| 2011-03-31 | 22.47% |
| 2010-12-31 | 22.19% |
| 2010-09-30 | 22.24% |
| 2010-06-30 | 22.21% |
| 2010-03-31 | 22.31% |
| 2009-12-31 | 23.23% |
| 2009-09-30 | -0.25% |
| 2009-06-30 | 0.21% |
| 2009-03-31 | 0.73% |
| 2008-12-31 | -0.33% |
| 2008-09-30 | 27.92% |
| 2008-06-30 | 27.84% |
| 2008-03-31 | 27.38% |
| 2007-12-31 | 28.91% |
| 2007-09-30 | 29.66% |
| 2007-06-30 | 31.35% |
| 2007-03-31 | 29.45% |
| 2006-12-31 | 30.55% |
| 2006-09-30 | 37.52% |
| 2006-06-30 | 39.23% |
| 2006-03-31 | 36.45% |
| 2005-12-31 | 36.59% |
| 2005-09-30 | 25.14% |
| 2005-06-30 | 23.06% |
| 2004-03-31 | 18.79% |
| 2003-12-31 | 17.93% |
| 2003-09-30 | 6.36% |
| 2003-06-30 | 11.73% |
