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 27.56% is 29% above its 5-year average of 21.41%, near the high end of its 5-year range (16.89%–27.56%).
As of the fiscal period ended Tuesday, June 30, 2026. 9.87% above its 12-month average of 25.08%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
27.56%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
25.08%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
21.37%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
21.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
20.26%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
19.87%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
20.09%
CURRENT VS TTM AVG
+9.87%
CURRENT VS 3Y AVG
+28.96%
CURRENT VS 5Y AVG
+28.68%
CURRENT VS 10Y AVG
+36.03%
CURRENT VS 15Y AVG
+38.67%
CURRENT VS 20Y AVG
+37.14%
SECTOR MEDIAN · TECHNOLOGY
8.17%
median of 193 covered companies
CURRENT VS SECTOR MEDIAN
+237.28%
vs the sector median at left
Taiwan Semiconductor Manufacturing Company Limited
Market Cap
$2.28T
Return on Invested Capital (ROIC)
27.56%
TTM Avg
25.08%
3Y Avg
21.37%
5Y Avg
21.41%
Market Cap
$1.75T
Return on Invested Capital (ROIC)
23.99%
TTM Avg
10.97%
3Y Avg
14.83%
5Y Avg
15.29%
Market Cap
$1.32T
Return on Invested Capital (ROIC)
30.10%
TTM Avg
23.39%
3Y Avg
10.57%
5Y Avg
9.78%
Market Cap
$1.13T
Return on Invested Capital (ROIC)
44.23%
TTM Avg
6.74%
3Y Avg
4.71%
5Y Avg
5.97%
Market Cap
$3.67T
Return on Invested Capital (ROIC)
20.90%
TTM Avg
21.46%
3Y Avg
22.11%
5Y Avg
23.14%
Market Cap
$824.66B
Return on Invested Capital (ROIC)
7.58%
TTM Avg
3.95%
3Y Avg
2.65%
5Y Avg
9.51%
Market Cap
$680.20B
Return on Invested Capital (ROIC)
37.49%
TTM Avg
30.16%
3Y Avg
30.41%
5Y Avg
28.27%
Market Cap
$526.95B
Return on Invested Capital (ROIC)
0.05%
TTM Avg
-3.55%
3Y Avg
-1.38%
5Y Avg
1.34%
Market Cap
$468.13B
Return on Invested Capital (ROIC)
7.99%
TTM Avg
9.43%
3Y Avg
10.21%
5Y Avg
10.72%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | $2.28T | 27.56% | 25.08% | 21.37% | 21.41% |
| Broadcom Inc. (AVGO)vs › | $1.75T | 23.99% | 10.97% | 14.83% | 15.29% |
| SK hynix Inc. (SKHY)vs › | $1.32T | 30.10% | 23.39% | 10.57% | 9.78% |
| Micron Technology, Inc. (MU)vs › | $1.13T | 44.23% | 6.74% | 4.71% | 5.97% |
| Microsoft Corporation (MSFT)vs › | $3.67T | 20.90% | 21.46% | 22.11% | 23.14% |
| Advanced Micro Devices, Inc. (AMD)vs › | $824.66B | 7.58% | 3.95% | 2.65% | 9.51% |
| ASML Holding N.V. (ASML)vs › | $680.20B | 37.49% | 30.16% | 30.41% | 28.27% |
| Intel Corp. (INTC)vs › | $526.95B | 0.05% | -3.55% | -1.38% | 1.34% |
| Oracle Corporation (ORCL)vs › | $468.13B | 7.99% | 9.43% | 10.21% | 10.72% |
| Cisco Systems, Inc. (CSCO)vs › | $430.29B | 12.96% | 12.31% | 13.13% | 13.79% |
ROIC
27.6%
ROE
35.3%
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) |
|---|---|
| 2026-06-30 | 27.56% |
| 2026-03-31 | 26.76% |
| 2025-12-31 | 25.23% |
| 2025-09-30 | 23.56% |
| 2025-06-30 | 22.30% |
| 2025-03-31 | 21.45% |
| 2024-12-31 | 20.33% |
| 2024-09-30 | 18.88% |
| 2024-06-30 | 17.80% |
| 2024-03-31 | 17.06% |
| 2023-12-31 | 16.89% |
| 2023-09-30 | 19.05% |
| 2023-06-30 | 20.91% |
| 2023-03-31 | 23.08% |
| 2022-12-31 | 24.65% |
| 2022-09-30 | 24.17% |
| 2022-06-30 | 21.48% |
| 2022-03-31 | 19.88% |
| 2021-12-31 | 18.68% |
| 2021-09-30 | 19.65% |
| 2021-06-30 | 20.35% |
| 2021-03-31 | 21.38% |
| 2020-12-31 | 21.56% |
| 2020-09-30 | 21.10% |
| 2020-06-30 | 21.25% |
| 2020-03-31 | 20.06% |
| 2019-12-31 | 17.77% |
| 2019-09-30 | 18.36% |
| 2019-06-30 | 18.07% |
| 2019-03-31 | 16.57% |
| 2018-12-31 | 18.52% |
| 2018-09-30 | 20.21% |
| 2018-06-30 | 21.63% |
| 2018-03-31 | 18.62% |
| 2017-12-31 | 19.14% |
| 2017-09-30 | 20.42% |
| 2017-06-30 | 21.87% |
| 2017-03-31 | 20.02% |
| 2016-12-31 | 20.17% |
| 2016-09-30 | 19.28% |
| 2016-06-30 | 18.62% |
| 2016-03-31 | 17.12% |
| 2015-12-31 | 19.23% |
| 2015-09-30 | 20.65% |
| 2015-06-30 | 21.66% |
| 2015-03-31 | 20.39% |
| 2014-12-31 | 19.71% |
| 2014-09-30 | 18.11% |
| 2014-06-30 | 17.16% |
| 2014-03-31 | 16.58% |
| 2013-12-31 | 16.65% |
| 2013-09-30 | 17.32% |
| 2013-06-30 | 18.93% |
| 2013-03-31 | 18.42% |
| 2012-12-31 | 19.49% |
| 2012-09-30 | 19.36% |
| 2012-06-30 | 19.29% |
| 2012-03-31 | 17.27% |
| 2011-12-31 | 19.56% |
| 2011-09-30 | 21.76% |
| 2011-06-30 | 23.74% |
| 2011-03-31 | 22.51% |
| 2010-12-31 | 22.72% |
| 2010-09-30 | 23.57% |
| 2010-06-30 | 25.01% |
| 2010-03-31 | 21.04% |
| 2009-12-31 | 16.53% |
| 2009-09-30 | 13.55% |
| 2009-06-30 | 14.47% |
| 2009-03-31 | 14.82% |
| 2008-12-31 | 19.42% |
| 2008-09-30 | 23.88% |
| 2008-06-30 | 23.65% |
| 2008-03-31 | 19.27% |
| 2007-12-31 | 18.93% |
| 2007-09-30 | 17.57% |
| 2007-06-30 | 19.15% |
| 2007-03-31 | 19.22% |
| 2006-12-31 | 24.56% |
| 2006-09-30 | 24.57% |
| 2006-06-30 | 23.96% |
| 2006-03-31 | 19.86% |
| 2005-12-31 | 18.64% |
| 2005-09-30 | 18.12% |
| 2005-06-30 | 19.46% |
| 2005-03-31 | 18.97% |
| 2004-12-31 | 19.97% |
| 2004-09-30 | 19.31% |
| 2004-06-30 | 17.88% |
| 2004-03-31 | 14.82% |
| 2003-12-31 | 11.36% |
| 2003-09-30 | -15.49% |
| 2003-06-30 | -9.40% |
