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 5.42% is in line with its 5-year average of 5.75%, near the low end of its 5-year range (4.43%–8.13%).
As of the fiscal period ended Tuesday, June 30, 2026. 0.55% below its 12-month average of 5.45%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
5.42%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
5.45%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
5.72%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
5.75%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
5.43%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
5.48%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
5.54%
CURRENT VS TTM AVG
-0.55%
CURRENT VS 3Y AVG
-5.24%
CURRENT VS 5Y AVG
-5.82%
CURRENT VS 10Y AVG
-0.18%
CURRENT VS 15Y AVG
-1.19%
CURRENT VS 20Y AVG
-2.12%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 88 covered companies
CURRENT VS SECTOR MEDIAN
-38.03%
vs the sector median at left
Sanofi
Market Cap
$107.47B
Return on Invested Capital (ROIC)
5.42%
TTM Avg
5.45%
3Y Avg
5.72%
5Y Avg
5.75%
Market Cap
$104.87B
Return on Invested Capital (ROIC)
28.34%
TTM Avg
27.87%
3Y Avg
25.19%
5Y Avg
21.44%
Market Cap
$100.54B
Return on Invested Capital (ROIC)
13.95%
TTM Avg
12.57%
3Y Avg
12.55%
5Y Avg
10.41%
Market Cap
$116.60B
Return on Invested Capital (ROIC)
6.13%
TTM Avg
6.11%
3Y Avg
5.46%
5Y Avg
5.53%
Market Cap
$119.16B
Return on Invested Capital (ROIC)
4.14%
TTM Avg
4.18%
3Y Avg
4.49%
5Y Avg
4.97%
Market Cap
$90.56B
Return on Invested Capital (ROIC)
19.41%
TTM Avg
17.66%
3Y Avg
17.17%
5Y Avg
17.02%
Market Cap
$125.43B
Return on Invested Capital (ROIC)
9.82%
TTM Avg
10.14%
3Y Avg
10.34%
5Y Avg
10.08%
Market Cap
$86.04B
Return on Invested Capital (ROIC)
6.34%
TTM Avg
6.70%
3Y Avg
7.11%
5Y Avg
7.33%
Market Cap
$131.04B
Return on Invested Capital (ROIC)
15.11%
TTM Avg
12.85%
3Y Avg
12.25%
5Y Avg
11.92%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Sanofi (SNY) | $107.47B | 5.42% | 5.45% | 5.72% | 5.75% |
| McKesson Corporation (MCK)vs › | $104.87B | 28.34% | 27.87% | 25.19% | 21.44% |
| GSK plc (GSK)vs › | $100.54B | 13.95% | 12.57% | 12.55% | 10.41% |
| Medtronic plc (MDT)vs › | $116.60B | 6.13% | 6.11% | 5.46% | 5.53% |
| CVS Health Corp. (CVS)vs › | $119.16B | 4.14% | 4.18% | 4.49% | 4.97% |
| HCA Healthcare, Inc. (HCA)vs › | $90.56B | 19.41% | 17.66% | 17.17% | 17.02% |
| Stryker Corporation (SYK)vs › | $125.43B | 9.82% | 10.14% | 10.34% | 10.08% |
| Elevance Health Inc. (ELV)vs › | $86.04B | 6.34% | 6.70% | 7.11% | 7.33% |
| Intuitive Surgical, Inc. (ISRG)vs › | $131.04B | 15.11% | 12.85% | 12.25% | 11.92% |
| Regeneron Pharmaceuticals, Inc. (REGN)vs › | $81.51B | 9.19% | 9.70% | 12.91% | 18.41% |
ROIC
5.4%
ROE
5.8%
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 | 5.42% |
| 2026-03-31 | 5.12% |
| 2025-12-31 | 4.93% |
| 2025-09-30 | 5.91% |
| 2025-06-30 | 5.86% |
| 2025-03-31 | 6.06% |
| 2024-12-31 | 5.67% |
| 2024-06-30 | 4.43% |
| 2023-12-31 | 5.66% |
| 2023-06-30 | 8.13% |
| 2022-12-31 | 7.92% |
| 2022-06-30 | 7.17% |
| 2021-12-31 | 6.49% |
| 2021-06-30 | 6.33% |
| 2020-12-31 | 11.67% |
| 2020-06-30 | 10.87% |
| 2019-12-31 | 3.01% |
| 2019-06-30 | 3.62% |
| 2018-12-31 | 4.49% |
| 2018-06-30 | 3.58% |
| 2018-03-31 | 3.66% |
| 2017-12-31 | 4.48% |
| 2017-06-30 | 5.92% |
| 2016-12-31 | 5.91% |
| 2016-06-30 | 5.10% |
| 2015-12-31 | 5.42% |
| 2015-06-30 | 6.56% |
| 2014-12-31 | 6.06% |
| 2014-06-30 | 5.58% |
| 2013-12-31 | 4.78% |
| 2013-06-30 | 4.57% |
| 2012-12-31 | 5.74% |
| 2012-06-30 | 7.17% |
| 2011-12-31 | 6.22% |
| 2011-06-30 | 4.02% |
| 2010-12-31 | 6.31% |
| 2010-06-30 | 7.39% |
| 2009-12-31 | 6.31% |
| 2009-06-30 | 4.17% |
| 2008-12-31 | 14.71% |
| 2008-06-30 | 1.49% |
| 2007-12-31 | -0.35% |
| 2007-06-30 | -0.29% |
| 2006-12-31 | -8.24% |
| 2006-06-30 | 5.22% |
| 2005-12-31 | 3.65% |
| 2005-06-30 | -5.60% |
| 2004-12-31 | -3.08% |
| 2004-06-30 | 22.89% |
| 2003-12-31 | 16.52% |
| 2003-06-30 | 19.22% |
