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 5.96% is 13% above its 5-year average of 5.27%, near the high end of its 5-year range (3.57%–6.72%).
As of the fiscal period ended Tuesday, June 30, 2026. 7.83% above its 12-month average of 5.53%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 5.96%.
RETURN ON INVESTED CAPITAL (ROIC)
5.96%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
5.53%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
5.55%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
5.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
5.00%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
4.69%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
5.00%
CURRENT VS TTM AVG
+7.83%
CURRENT VS 3Y AVG
+7.41%
CURRENT VS 5Y AVG
+13.18%
CURRENT VS 10Y AVG
+19.24%
CURRENT VS 15Y AVG
+27.15%
CURRENT VS 20Y AVG
+19.22%
SECTOR MEDIAN · COMMUNICATION SERVICES
6.70%
median of 31 covered companies
CURRENT VS SECTOR MEDIAN
-11.01%
vs the sector median at left
AT&T Inc.
Market Cap
$175.15B
Return on Invested Capital (ROIC)
5.96%
TTM Avg
5.53%
3Y Avg
5.55%
5Y Avg
5.27%
Market Cap
$183.81B
Return on Invested Capital (ROIC)
6.43%
TTM Avg
6.74%
3Y Avg
4.90%
5Y Avg
3.95%
Market Cap
$190.03B
Return on Invested Capital (ROIC)
7.29%
TTM Avg
7.22%
3Y Avg
5.72%
5Y Avg
4.83%
Market Cap
$208.65B
Return on Invested Capital (ROIC)
5.84%
TTM Avg
6.60%
3Y Avg
6.54%
5Y Avg
6.96%
Market Cap
$107.26B
Return on Invested Capital (ROIC)
29.12%
TTM Avg
18.19%
3Y Avg
2.45%
5Y Avg
0.43%
Market Cap
$89.32B
Return on Invested Capital (ROIC)
6.12%
TTM Avg
7.49%
3Y Avg
6.98%
5Y Avg
6.56%
Market Cap
$87.59B
Return on Invested Capital (ROIC)
7.28%
TTM Avg
2.50%
3Y Avg
-4.58%
5Y Avg
-5.91%
Market Cap
$70.70B
Return on Invested Capital (ROIC)
2.34%
TTM Avg
-5.07%
3Y Avg
-4.44%
5Y Avg
-1.01%
Market Cap
$39.58B
Return on Invested Capital (ROIC)
3.73%
TTM Avg
7.85%
3Y Avg
7.53%
5Y Avg
0.14%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| AT&T Inc. (T) | $175.15B | 5.96% | 5.53% | 5.55% | 5.27% |
| The Walt Disney Company (DIS)vs › | $183.81B | 6.43% | 6.74% | 4.90% | 3.95% |
| T-Mobile US, Inc. (TMUS)vs › | $190.03B | 7.29% | 7.22% | 5.72% | 4.83% |
| Verizon Communications Inc. (VZ)vs › | $208.65B | 5.84% | 6.60% | 6.54% | 6.96% |
| Spotify Technology S.A. (SPOT)vs › | $107.26B | 29.12% | 18.19% | 2.45% | 0.43% |
| Comcast Corporation (CMCSA)vs › | $89.32B | 6.12% | 7.49% | 6.98% | 6.56% |
| DoorDash, Inc. (DASH)vs › | $87.59B | 7.28% | 2.50% | -4.58% | -5.91% |
| Warner Bros. Discovery, Inc. (WBD)vs › | $70.70B | 2.34% | -5.07% | -4.44% | -1.01% |
| Live Nation Entertainment, Inc. (LYV)vs › | $39.58B | 3.73% | 7.85% | 7.53% | 0.14% |
| Netflix, Inc. (NFLX)vs › | $316.50B | 24.34% | 22.80% | 18.12% | 16.60% |
ROIC
6.0%
ROE
19.5%
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 | 5.96% |
| 2026-03-31 | 5.84% |
| 2025-12-31 | 5.65% |
| 2025-09-30 | 5.25% |
| 2025-06-30 | 4.95% |
| 2025-03-31 | 4.95% |
| 2024-12-31 | 5.04% |
| 2024-09-30 | 5.07% |
| 2024-06-30 | 5.40% |
| 2024-03-31 | 5.40% |
| 2023-12-31 | 5.34% |
| 2023-09-30 | 6.72% |
| 2023-06-30 | 6.58% |
| 2023-03-31 | 6.64% |
| 2022-12-31 | 6.58% |
| 2022-09-30 | 4.80% |
| 2022-06-30 | 4.70% |
| 2022-03-31 | 3.82% |
| 2021-12-31 | 4.58% |
| 2021-09-30 | 3.78% |
| 2021-06-30 | 3.57% |
| 2021-03-31 | 2.88% |
| 2020-12-31 | 5.49% |
| 2020-09-30 | 4.38% |
| 2020-06-30 | 4.60% |
| 2020-03-31 | 5.02% |
| 2019-12-31 | 4.98% |
| 2019-09-30 | 5.02% |
| 2019-06-30 | 4.88% |
| 2019-03-31 | 4.64% |
| 2018-12-31 | 4.58% |
| 2018-09-30 | 5.15% |
| 2018-06-30 | 4.75% |
| 2018-03-31 | 5.74% |
| 2017-12-31 | 5.99% |
| 2017-09-30 | 4.11% |
| 2017-06-30 | 4.48% |
| 2017-03-31 | 4.53% |
| 2016-12-31 | 4.65% |
| 2016-09-30 | 4.94% |
| 2016-06-30 | 4.82% |
| 2016-03-31 | 4.65% |
| 2015-12-31 | 4.52% |
| 2015-10-28 | 2.27% |
| 2015-06-30 | 2.79% |
| 2015-03-31 | 2.73% |
| 2014-12-31 | 2.94% |
| 2014-09-30 | 7.48% |
| 2014-06-30 | 7.49% |
| 2014-03-31 | 8.00% |
| 2013-12-31 | 8.20% |
| 2013-09-30 | 3.85% |
| 2013-06-30 | 3.76% |
| 2013-03-31 | 3.92% |
| 2012-12-31 | 3.85% |
| 2012-09-30 | 2.67% |
| 2012-06-30 | 2.66% |
| 2012-03-31 | 2.45% |
| 2011-12-31 | 2.36% |
| 2011-09-30 | 5.33% |
| 2011-06-30 | 7.87% |
| 2011-03-31 | 7.99% |
| 2010-12-31 | 8.06% |
| 2010-09-30 | 9.20% |
| 2010-06-30 | 5.79% |
| 2010-03-31 | 5.72% |
| 2009-12-31 | 6.08% |
| 2009-09-30 | 5.94% |
| 2009-06-30 | 5.89% |
| 2009-03-31 | 6.21% |
| 2008-12-31 | 6.32% |
| 2008-09-30 | 6.00% |
| 2008-06-30 | 5.97% |
| 2008-03-31 | 5.73% |
| 2007-12-31 | 5.51% |
| 2007-09-30 | 4.91% |
| 2007-06-30 | 4.22% |
| 2007-03-31 | 3.52% |
| 2006-12-31 | 2.90% |
| 2006-09-30 | 5.47% |
| 2006-06-30 | 5.00% |
| 2006-03-31 | 4.41% |
| 2005-12-31 | 4.14% |
| 2005-09-30 | 4.84% |
| 2005-06-30 | 4.51% |
| 2005-03-31 | 4.38% |
| 2004-12-31 | 4.29% |
| 2004-09-30 | 4.39% |
| 2004-06-30 | 4.34% |
| 2004-03-31 | 4.55% |
| 2003-12-31 | 4.91% |
| 2003-09-30 | 5.83% |
| 2003-06-30 | 6.19% |
