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 11.67% is 3569% above its 5-year average of -0.34%, near the high end of its 5-year range (-26.79%–11.67%).
As of the fiscal period ended Tuesday, June 30, 2026. 23.07% above its 12-month average of 9.48%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
11.67%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
9.48%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
0.82%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
-0.34%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
-1.48%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+23.07%
CURRENT VS 3Y AVG
+1329.88%
CURRENT VS 5Y AVG
+3568.98%
CURRENT VS 10Y AVG
+889.22%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · TECHNOLOGY
8.17%
median of 193 covered companies
CURRENT VS SECTOR MEDIAN
+42.88%
vs the sector median at left
Shopify Inc.
Market Cap
$174.02B
Return on Invested Capital (ROIC)
11.67%
TTM Avg
9.48%
3Y Avg
0.82%
5Y Avg
-0.34%
Market Cap
$176.91B
Return on Invested Capital (ROIC)
9.62%
TTM Avg
4.73%
3Y Avg
5.67%
5Y Avg
5.29%
Market Cap
$182.79B
Return on Invested Capital (ROIC)
17.42%
TTM Avg
18.97%
3Y Avg
22.79%
5Y Avg
23.23%
Market Cap
$164.52B
Return on Invested Capital (ROIC)
40.19%
TTM Avg
39.70%
3Y Avg
19.73%
5Y Avg
12.92%
Market Cap
$197.41B
Return on Invested Capital (ROIC)
5.44%
TTM Avg
1.03%
3Y Avg
-0.05%
5Y Avg
-0.75%
Market Cap
$148.86B
Return on Invested Capital (ROIC)
13.01%
TTM Avg
9.02%
3Y Avg
3.43%
5Y Avg
-2.77%
Market Cap
$201.62B
Return on Invested Capital (ROIC)
15.10%
TTM Avg
15.01%
3Y Avg
15.20%
5Y Avg
14.59%
Market Cap
$202.79B
Return on Invested Capital (ROIC)
51.40%
TTM Avg
51.40%
3Y Avg
30.73%
5Y Avg
23.51%
Market Cap
$204.03B
Return on Invested Capital (ROIC)
8.78%
TTM Avg
8.41%
3Y Avg
5.81%
5Y Avg
4.14%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Shopify Inc. (SHOP) | $174.02B | 11.67% | 9.48% | 0.82% | -0.34% |
| Analog Devices, Inc. (ADI)vs › | $176.91B | 9.62% | 4.73% | 5.67% | 5.29% |
| QUALCOMM Incorporated (QCOM)vs › | $182.79B | 17.42% | 18.97% | 22.79% | 23.23% |
| Western Digital Corporation (WDC)vs › | $164.52B | 40.19% | 39.70% | 19.73% | 12.92% |
| Marvell Technology, Inc. (MRVL)vs › | $197.41B | 5.44% | 1.03% | -0.05% | -0.75% |
| Uber Technologies, Inc. (UBER)vs › | $148.86B | 13.01% | 9.02% | 3.43% | -2.77% |
| Amphenol Corporation (APH)vs › | $201.62B | 15.10% | 15.01% | 15.20% | 14.59% |
| Seagate Technology Holdings plc (STX)vs › | $202.79B | 51.40% | 51.40% | 30.73% | 23.51% |
| Salesforce, Inc. (CRM)vs › | $204.03B | 8.78% | 8.41% | 5.81% | 4.14% |
| Corning Inc (GLW)vs › | $142.98B | 8.19% | 5.55% | 4.63% | 4.45% |
ROIC
11.7%
ROE
15.2%
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 | 11.67% |
| 2026-03-31 | 10.41% |
| 2025-12-31 | 8.68% |
| 2025-09-30 | 8.28% |
| 2025-06-30 | 8.37% |
| 2025-03-31 | 9.10% |
| 2024-12-31 | 7.56% |
| 2024-09-30 | 7.32% |
| 2024-06-30 | 6.61% |
| 2024-03-31 | -11.16% |
| 2023-12-31 | -9.73% |
| 2023-09-30 | -19.72% |
| 2023-06-30 | -26.79% |
| 2023-03-31 | -9.10% |
| 2022-12-31 | -8.31% |
| 2022-09-30 | -6.02% |
| 2022-06-30 | -2.76% |
| 2022-03-31 | 0.46% |
| 2021-12-31 | 1.97% |
| 2021-09-30 | 2.58% |
| 2021-06-30 | 3.49% |
| 2021-03-31 | 2.63% |
| 2020-12-31 | 1.23% |
| 2020-09-30 | -0.74% |
| 2020-06-30 | -2.90% |
| 2020-03-31 | -5.61% |
| 2019-12-31 | -4.45% |
| 2019-09-30 | -4.11% |
| 2019-06-30 | -5.11% |
| 2019-03-31 | -4.82% |
| 2018-12-31 | -4.34% |
| 2018-09-30 | -5.23% |
| 2018-06-30 | -4.17% |
| 2018-03-31 | -3.30% |
| 2017-12-31 | -4.82% |
| 2017-09-30 | -5.20% |
| 2017-06-30 | -4.95% |
| 2017-03-31 | -9.87% |
| 2016-12-31 | -8.76% |
| 2016-09-30 | -8.10% |
| 2016-06-30 | -14.50% |
| 2016-03-31 | -11.83% |
| 2015-12-31 | -8.60% |
| 2015-09-30 | -7.60% |
| 2015-06-30 | -7.45% |
| 2015-03-31 | -26.22% |
| 2014-12-31 | -28.66% |
