Basis: Latest reported fiscal year. 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 19.71% is in line with its 5-year average of 20.03%, around the middle of its 5-year range (13.28%–24.03%).
As of the fiscal period ended Wednesday, December 31, 2025. 19.49% above its 12-month average of 16.50%.
Annual fiscal-year return on invested capital; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
19.71%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
16.50%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
18.66%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
20.03%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
21.58%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
22.29%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
20.43%
CURRENT VS TTM AVG
+19.49%
CURRENT VS 3Y AVG
+5.66%
CURRENT VS 5Y AVG
-1.57%
CURRENT VS 10Y AVG
-8.68%
CURRENT VS 15Y AVG
-11.59%
CURRENT VS 20Y AVG
-3.52%
SECTOR MEDIAN · HEALTHCARE
8.90%
median of 85 covered companies
CURRENT VS SECTOR MEDIAN
+121.46%
vs the sector median at left
Roche Holding AG
Market Cap
$359.46B
Return on Invested Capital (ROIC)
19.71%
TTM Avg
16.50%
3Y Avg
18.66%
5Y Avg
20.03%
Market Cap
$358.76B
Return on Invested Capital (ROIC)
6.84%
TTM Avg
10.28%
3Y Avg
12.20%
5Y Avg
12.63%
Market Cap
$369.34B
Return on Invested Capital (ROIC)
5.80%
TTM Avg
18.65%
3Y Avg
14.46%
5Y Avg
12.98%
Market Cap
$455.87B
Return on Invested Capital (ROIC)
13.46%
TTM Avg
10.91%
3Y Avg
11.35%
5Y Avg
11.16%
Market Cap
$255.15B
Return on Invested Capital (ROIC)
12.83%
TTM Avg
11.72%
3Y Avg
9.44%
5Y Avg
7.92%
Market Cap
$235.85B
Return on Invested Capital (ROIC)
14.22%
TTM Avg
11.04%
3Y Avg
11.80%
5Y Avg
12.80%
Market Cap
$234.38B
Return on Invested Capital (ROIC)
7.44%
TTM Avg
7.81%
3Y Avg
8.16%
5Y Avg
9.11%
Market Cap
$205.42B
Return on Invested Capital (ROIC)
30.21%
TTM Avg
34.36%
3Y Avg
43.28%
5Y Avg
43.42%
Market Cap
$193.04B
Return on Invested Capital (ROIC)
6.07%
TTM Avg
9.16%
3Y Avg
9.70%
5Y Avg
9.86%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Roche Holding AG (RHHBY) | $359.46B | 19.71% | 16.50% | 18.66% | 20.03% |
| UnitedHealth Group Incorporated (UNH)vs › | $358.76B | 6.84% | 10.28% | 12.20% | 12.63% |
| Merck & Co., Inc. (MRK)vs › | $369.34B | 5.80% | 18.65% | 14.46% | 12.98% |
| AbbVie Inc. (ABBV)vs › | $455.87B | 13.46% | 10.91% | 11.35% | 11.16% |
| AstraZeneca PLC (AZN)vs › | $255.15B | 12.83% | 11.72% | 9.44% | 7.92% |
| Amgen Inc. (AMGN)vs › | $235.85B | 14.22% | 11.04% | 11.80% | 12.80% |
| Thermo Fisher Scientific Inc. (TMO)vs › | $234.38B | 7.44% | 7.81% | 8.16% | 9.11% |
| Novo Nordisk A/S (NVO)vs › | $205.42B | 30.21% | 34.36% | 43.28% | 43.42% |
| Abbott Laboratories (ABT)vs › | $193.04B | 6.07% | 9.16% | 9.70% | 9.86% |
| Gilead Sciences, Inc. (GILD)vs › | $184.82B | -3.66% | 11.34% | 11.28% | 10.29% |
ROIC
19.7%
ROE
38.1%
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) |
|---|---|
| 2025-12-31 | 19.71% |
| 2024-12-31 | 13.28% |
| 2023-12-31 | 19.29% |
| 2022-12-31 | 22.34% |
| 2021-12-31 | 21.50% |
| 2020-12-31 | 24.03% |
| 2019-12-31 | 29.44% |
| 2018-12-31 | 24.97% |
| 2017-12-31 | 21.63% |
| 2016-12-31 | 21.16% |
| 2015-12-31 | 20.08% |
| 2014-12-31 | 21.39% |
| 2013-12-31 | 26.47% |
| 2012-12-31 | 25.22% |
| 2011-12-31 | 22.16% |
| 2010-12-31 | 22.17% |
| 2009-12-31 | 17.37% |
| 2008-12-31 | 16.38% |
| 2007-12-31 | 16.20% |
| 2006-12-31 | 13.38% |
| 2005-12-31 | 10.83% |
| 2004-12-31 | 13.47% |
| 2003-12-31 | 7.45% |
| 2002-12-31 | 2.35% |
| 2001-12-31 | 3.79% |
| 2000-12-31 | 8.87% |
| 1999-12-31 | 7.51% |
| 1998-12-31 | 7.14% |
