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 10.06% is 21% below its 5-year average of 12.79%, near the low end of its 5-year range (10.04%–15.61%).
As of the fiscal period ended Tuesday, June 30, 2026. 8.84% below its 12-month average of 11.04%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 10.06%.
RETURN ON INVESTED CAPITAL (ROIC)
10.06%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
11.04%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
12.00%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
12.79%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
12.73%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
11.58%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
11.91%
CURRENT VS TTM AVG
-8.84%
CURRENT VS 3Y AVG
-16.19%
CURRENT VS 5Y AVG
-21.32%
CURRENT VS 10Y AVG
-21.00%
CURRENT VS 15Y AVG
-13.16%
CURRENT VS 20Y AVG
-15.51%
SECTOR MEDIAN · TECHNOLOGY
8.17%
median of 193 covered companies
CURRENT VS SECTOR MEDIAN
+23.13%
vs the sector median at left
Nova Ltd.
Market Cap
$11.70B
Return on Invested Capital (ROIC)
10.06%
TTM Avg
11.04%
3Y Avg
12.00%
5Y Avg
12.79%
Market Cap
$11.41B
Return on Invested Capital (ROIC)
14.56%
TTM Avg
13.93%
3Y Avg
11.15%
5Y Avg
7.19%
Market Cap
$12.01B
Return on Invested Capital (ROIC)
90.92%
TTM Avg
58.33%
3Y Avg
55.49%
5Y Avg
48.77%
Market Cap
$11.20B
Return on Invested Capital (ROIC)
8.56%
TTM Avg
5.01%
3Y Avg
6.78%
5Y Avg
7.91%
Market Cap
$12.43B
Return on Invested Capital (ROIC)
2.70%
TTM Avg
0.52%
3Y Avg
-5.02%
5Y Avg
-10.45%
Market Cap
$10.95B
Return on Invested Capital (ROIC)
5.70%
TTM Avg
-0.53%
3Y Avg
-4.07%
5Y Avg
-3.84%
Market Cap
$12.58B
Return on Invested Capital (ROIC)
23.78%
TTM Avg
20.59%
3Y Avg
21.97%
5Y Avg
19.23%
Market Cap
$12.86B
Return on Invested Capital (ROIC)
20.64%
TTM Avg
17.70%
3Y Avg
14.37%
5Y Avg
11.89%
Market Cap
$12.89B
Return on Invested Capital (ROIC)
15.17%
TTM Avg
10.65%
3Y Avg
4.36%
5Y Avg
-0.27%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Nova Ltd. (NVMI) | $11.70B | 10.06% | 11.04% | 12.00% | 12.79% |
| Rambus Inc. (RMBS)vs › | $11.41B | 14.56% | 13.93% | 11.15% | 7.19% |
| Manhattan Associates, Inc. (MANH)vs › | $12.01B | 90.92% | 58.33% | 55.49% | 48.77% |
| Advanced Energy Industries, Inc. (AEIS)vs › | $11.20B | 8.56% | 5.01% | 6.78% | 7.91% |
| Grab Holdings Limited (GRAB)vs › | $12.43B | 2.70% | 0.52% | -5.02% | -10.45% |
| HubSpot, Inc. (HUBS)vs › | $10.95B | 5.70% | -0.53% | -4.07% | -3.84% |
| Gartner, Inc. (IT)vs › | $12.58B | 23.78% | 20.59% | 21.97% | 19.23% |
| GoDaddy Inc. (GDDY)vs › | $12.86B | 20.64% | 17.70% | 14.37% | 11.89% |
| DocuSign, Inc. (DOCU)vs › | $12.89B | 15.17% | 10.65% | 4.36% | -0.27% |
| Jack Henry & Associates, Inc. (JKHY)vs › | $10.50B | 18.77% | 17.83% | 16.55% | 16.46% |
ROIC
10.1%
ROE
18.4%
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 | 10.06% |
| 2026-03-31 | 10.04% |
| 2025-12-31 | 10.10% |
| 2025-09-30 | 10.08% |
| 2025-06-30 | 14.89% |
| 2025-03-31 | 14.60% |
| 2024-12-31 | 13.47% |
| 2024-09-30 | 12.32% |
| 2024-06-30 | 11.93% |
| 2024-03-31 | 11.22% |
| 2023-12-31 | 11.55% |
| 2023-09-30 | 12.42% |
| 2023-06-30 | 13.37% |
| 2023-03-31 | 14.61% |
| 2022-12-31 | 15.61% |
| 2022-09-30 | 15.00% |
| 2022-06-30 | 15.22% |
| 2022-03-31 | 14.64% |
| 2021-12-31 | 13.68% |
| 2021-09-30 | 12.90% |
| 2021-06-30 | 10.79% |
| 2021-03-31 | 8.72% |
| 2020-12-31 | 7.92% |
| 2020-09-30 | 11.23% |
| 2020-06-30 | 10.27% |
| 2020-03-31 | 9.80% |
| 2019-12-31 | 9.16% |
| 2019-09-30 | 10.42% |
| 2019-06-30 | 12.38% |
| 2019-03-31 | 14.18% |
| 2018-12-31 | 18.16% |
| 2018-09-30 | 16.59% |
| 2018-06-30 | 16.93% |
| 2018-03-31 | 18.41% |
| 2017-12-31 | 19.34% |
| 2017-09-30 | 20.34% |
| 2017-06-30 | 13.86% |
| 2017-03-31 | 9.81% |
| 2016-12-31 | 4.80% |
| 2016-09-30 | 1.70% |
| 2016-06-30 | 8.58% |
| 2016-03-31 | 6.94% |
| 2015-12-31 | 6.81% |
| 2015-09-30 | 5.88% |
| 2015-06-30 | 4.78% |
| 2015-03-31 | 8.53% |
| 2014-12-31 | 11.58% |
| 2014-09-30 | 12.37% |
| 2014-06-30 | 11.50% |
| 2014-03-31 | 9.92% |
| 2013-12-31 | 7.55% |
| 2013-09-30 | 6.28% |
| 2013-06-30 | 7.06% |
| 2013-03-31 | 8.37% |
| 2012-12-31 | 8.88% |
| 2012-09-30 | 11.39% |
| 2012-06-30 | 14.31% |
| 2012-03-31 | 18.66% |
| 2011-12-31 | 23.68% |
| 2011-09-30 | 30.09% |
| 2011-06-30 | 33.55% |
| 2011-03-31 | 32.65% |
| 2010-12-31 | 30.33% |
| 2010-09-30 | 26.41% |
| 2010-06-30 | 21.07% |
| 2010-03-31 | 13.46% |
| 2009-12-31 | 8.14% |
| 2009-09-30 | -12.01% |
| 2009-06-30 | -29.83% |
| 2009-03-31 | -35.72% |
| 2008-12-31 | -26.88% |
| 2008-09-30 | -11.68% |
| 2008-06-30 | -14.73% |
| 2008-03-31 | -7.55% |
| 2007-12-31 | -9.82% |
| 2007-09-30 | -14.62% |
| 2007-06-30 | -4.94% |
| 2007-03-31 | -9.17% |
| 2006-12-31 | -8.69% |
| 2006-09-30 | -10.68% |
| 2006-06-30 | -12.25% |
| 2006-03-31 | -17.83% |
| 2005-12-31 | -32.62% |
| 2005-09-30 | -24.47% |
| 2005-06-30 | -18.54% |
| 2005-03-31 | -10.00% |
| 2004-12-31 | 2.47% |
| 2004-09-30 | 3.75% |
| 2004-06-30 | -0.33% |
| 2004-03-31 | -5.36% |
| 2003-12-31 | -13.09% |
| 2003-09-30 | -22.74% |
| 2003-06-30 | -27.16% |
