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 7.44% is 12% below its 5-year average of 8.51%, near the low end of its 5-year range (7.33%–15.44%).
As of the fiscal period ended Saturday, June 27, 2026. 3.30% below its 12-month average of 7.70%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-27): 7.44%.
RETURN ON INVESTED CAPITAL (ROIC)
7.44%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
7.70%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
7.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
8.51%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
7.28%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
6.91%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
6.37%
CURRENT VS TTM AVG
-3.30%
CURRENT VS 3Y AVG
-4.95%
CURRENT VS 5Y AVG
-12.50%
CURRENT VS 10Y AVG
+2.27%
CURRENT VS 15Y AVG
+7.68%
CURRENT VS 20Y AVG
+16.78%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
-14.90%
vs the sector median at left
Thermo Fisher Scientific Inc.
Market Cap
$224.15B
Return on Invested Capital (ROIC)
7.44%
TTM Avg
7.70%
3Y Avg
7.83%
5Y Avg
8.51%
Market Cap
$206.42B
Return on Invested Capital (ROIC)
14.22%
TTM Avg
11.04%
3Y Avg
11.80%
5Y Avg
12.80%
Market Cap
$247.58B
Return on Invested Capital (ROIC)
12.83%
TTM Avg
11.72%
3Y Avg
9.44%
5Y Avg
7.92%
Market Cap
$195.43B
Return on Invested Capital (ROIC)
30.21%
TTM Avg
34.36%
3Y Avg
43.28%
5Y Avg
43.42%
Market Cap
$179.79B
Return on Invested Capital (ROIC)
-3.66%
TTM Avg
11.34%
3Y Avg
11.28%
5Y Avg
10.29%
Market Cap
$178.87B
Return on Invested Capital (ROIC)
6.07%
TTM Avg
9.16%
3Y Avg
9.70%
5Y Avg
9.86%
Market Cap
$157.59B
Return on Invested Capital (ROIC)
9.33%
TTM Avg
9.06%
3Y Avg
10.61%
5Y Avg
10.43%
Market Cap
$141.00B
Return on Invested Capital (ROIC)
5.03%
TTM Avg
5.92%
3Y Avg
6.55%
5Y Avg
6.70%
Market Cap
$130.60B
Return on Invested Capital (ROIC)
17.33%
TTM Avg
8.72%
3Y Avg
13.98%
5Y Avg
17.04%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Thermo Fisher Scientific Inc. (TMO) | $224.15B | 7.44% | 7.70% | 7.83% | 8.51% |
| Amgen Inc. (AMGN)vs › | $206.42B | 14.22% | 11.04% | 11.80% | 12.80% |
| AstraZeneca PLC (AZN)vs › | $247.58B | 12.83% | 11.72% | 9.44% | 7.92% |
| Novo Nordisk A/S (NVO)vs › | $195.43B | 30.21% | 34.36% | 43.28% | 43.42% |
| Gilead Sciences, Inc. (GILD)vs › | $179.79B | -3.66% | 11.34% | 11.28% | 10.29% |
| Abbott Laboratories (ABT)vs › | $178.87B | 6.07% | 9.16% | 9.70% | 9.86% |
| Pfizer Inc. (PFE)vs › | $157.59B | 9.33% | 9.06% | 10.61% | 10.43% |
| Danaher Corporation (DHR)vs › | $141.00B | 5.03% | 5.92% | 6.55% | 6.70% |
| Vertex Pharmaceuticals Incorporated (VRTX)vs › | $130.60B | 17.33% | 8.72% | 13.98% | 17.04% |
| Bristol-Myers Squibb Company (BMY)vs › | $130.22B | 15.47% | 14.35% | 12.24% | 10.38% |
ROIC
7.4%
ROE
13.3%
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) |
|---|---|
| 2026-06-27 | 7.44% |
| 2026-03-28 | 7.33% |
| 2025-12-31 | 7.50% |
| 2025-09-27 | 8.00% |
| 2025-06-28 | 8.21% |
| 2025-03-29 | 8.18% |
| 2024-12-31 | 8.03% |
| 2024-09-28 | 7.44% |
| 2024-06-29 | 7.64% |
| 2024-03-30 | 7.84% |
| 2023-12-31 | 8.03% |
| 2023-09-30 | 8.05% |
| 2023-07-01 | 8.09% |
| 2023-04-01 | 8.10% |
| 2022-12-31 | 9.00% |
| 2022-10-01 | 10.38% |
| 2022-07-02 | 10.77% |
| 2022-04-02 | 10.84% |
| 2021-12-31 | 10.72% |
| 2021-10-02 | 14.25% |
| 2021-07-03 | 15.44% |
| 2021-04-03 | 14.77% |
| 2020-12-31 | 11.36% |
| 2020-09-26 | 9.51% |
| 2020-06-27 | 7.78% |
| 2020-03-28 | 7.11% |
| 2019-12-31 | 7.29% |
| 2019-09-28 | 7.18% |
| 2019-06-29 | 6.74% |
| 2019-03-30 | 7.15% |
| 2018-12-31 | 6.79% |
| 2018-09-29 | 6.08% |
| 2018-06-30 | 6.12% |
| 2018-03-31 | 5.73% |
| 2017-12-31 | 5.79% |
| 2017-09-30 | 6.00% |
| 2017-07-01 | 7.05% |
| 2017-04-01 | 6.75% |
| 2016-12-31 | 6.38% |
| 2016-10-01 | 5.68% |
| 2016-07-02 | 6.14% |
| 2016-04-02 | 5.92% |
| 2015-12-31 | 6.19% |
| 2015-09-26 | 5.94% |
| 2015-06-27 | 6.05% |
| 2015-03-28 | 5.40% |
| 2014-12-31 | 5.72% |
| 2014-09-27 | 4.97% |
| 2014-06-28 | 4.37% |
| 2014-03-29 | 4.14% |
| 2013-12-31 | 5.25% |
| 2013-09-28 | 5.93% |
| 2013-06-29 | 5.91% |
| 2013-03-30 | 5.91% |
| 2012-12-31 | 5.76% |
| 2012-09-29 | 5.25% |
| 2012-06-30 | 5.31% |
| 2012-03-31 | 4.76% |
| 2011-12-31 | 4.50% |
| 2011-10-01 | 4.46% |
| 2011-07-02 | 4.91% |
| 2011-04-02 | 5.22% |
| 2010-12-31 | 5.68% |
| 2010-10-02 | 5.63% |
| 2010-07-03 | 5.48% |
| 2010-04-03 | 5.22% |
| 2009-12-31 | 4.79% |
| 2009-09-26 | 4.83% |
| 2009-06-27 | 4.83% |
| 2009-03-31 | 5.03% |
| 2008-12-31 | 5.40% |
| 2008-09-27 | 5.04% |
| 2008-06-28 | 5.03% |
| 2008-03-29 | 4.78% |
| 2007-12-31 | 4.43% |
| 2007-09-29 | 3.31% |
| 2007-06-30 | 2.35% |
| 2007-03-31 | 1.58% |
| 2006-12-31 | 0.98% |
| 2006-09-30 | 5.87% |
| 2006-07-01 | 5.55% |
| 2006-04-01 | 5.14% |
| 2005-12-31 | 5.09% |
| 2005-10-01 | 5.63% |
| 2005-07-02 | 5.57% |
| 2005-04-02 | 6.80% |
| 2004-12-31 | 6.77% |
| 2004-10-02 | 6.18% |
| 2004-07-03 | 5.66% |
| 2004-04-03 | 5.72% |
| 2003-12-31 | 5.31% |
| 2003-09-27 | 5.00% |
| 2003-06-28 | 4.71% |
