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 18.81% is 24% below its 5-year average of 24.74%, near the low end of its 5-year range (14.69%–38.41%).
As of the fiscal period ended Tuesday, June 30, 2026. 10.73% above its 12-month average of 16.99%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
18.81%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
16.99%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
16.93%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
24.74%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
26.69%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
22.78%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
22.15%
CURRENT VS TTM AVG
+10.73%
CURRENT VS 3Y AVG
+11.08%
CURRENT VS 5Y AVG
-23.96%
CURRENT VS 10Y AVG
-29.52%
CURRENT VS 15Y AVG
-17.44%
CURRENT VS 20Y AVG
-15.08%
SECTOR MEDIAN · TECHNOLOGY
8.17%
median of 193 covered companies
CURRENT VS SECTOR MEDIAN
+130.22%
vs the sector median at left
Texas Instruments Incorporated
Market Cap
$238.90B
Return on Invested Capital (ROIC)
18.81%
TTM Avg
16.99%
3Y Avg
16.93%
5Y Avg
24.74%
Market Cap
$238.93B
Return on Invested Capital (ROIC)
35.75%
TTM Avg
36.17%
3Y Avg
33.56%
5Y Avg
32.79%
Market Cap
$242.93B
Return on Invested Capital (ROIC)
21.80%
TTM Avg
22.69%
3Y Avg
23.35%
5Y Avg
21.10%
Market Cap
$243.69B
Return on Invested Capital (ROIC)
13.02%
TTM Avg
8.86%
3Y Avg
7.92%
5Y Avg
8.43%
Market Cap
$226.06B
Return on Invested Capital (ROIC)
10.12%
TTM Avg
9.80%
3Y Avg
8.91%
5Y Avg
7.63%
Market Cap
$261.25B
Return on Invested Capital (ROIC)
64.29%
TTM Avg
64.29%
3Y Avg
16.19%
5Y Avg
7.93%
Market Cap
$211.59B
Return on Invested Capital (ROIC)
-1.57%
TTM Avg
-2.75%
3Y Avg
-3.01%
5Y Avg
-3.90%
Market Cap
$205.81B
Return on Invested Capital (ROIC)
5.44%
TTM Avg
1.03%
3Y Avg
-0.05%
5Y Avg
-0.75%
Market Cap
$273.11B
Return on Invested Capital (ROIC)
1.03%
TTM Avg
3.35%
3Y Avg
3.82%
5Y Avg
1.38%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Texas Instruments Incorporated (TXN) | $238.90B | 18.81% | 16.99% | 16.93% | 24.74% |
| KLA Corporation (KLAC)vs › | $238.93B | 35.75% | 36.17% | 33.56% | 32.79% |
| Arista Networks, Inc. (ANET)vs › | $242.93B | 21.80% | 22.69% | 23.35% | 21.10% |
| SAP SE (SAP)vs › | $243.69B | 13.02% | 8.86% | 7.92% | 8.43% |
| International Business Machines Corporation (IBM)vs › | $226.06B | 10.12% | 9.80% | 8.91% | 7.63% |
| Sandisk Corporation (SNDK)vs › | $261.25B | 64.29% | 64.29% | 16.19% | 7.93% |
| CrowdStrike Holdings, Inc. (CRWD)vs › | $211.59B | -1.57% | -2.75% | -3.01% | -3.90% |
| Marvell Technology, Inc. (MRVL)vs › | $205.81B | 5.44% | 1.03% | -0.05% | -0.75% |
| Palo Alto Networks, Inc. (PANW)vs › | $273.11B | 1.03% | 3.35% | 3.82% | 1.38% |
| Amphenol Corporation (APH)vs › | $200.58B | 15.10% | 15.01% | 15.20% | 14.59% |
ROIC
18.8%
ROE
33.6%
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 | 18.81% |
| 2026-03-31 | 17.51% |
| 2025-12-31 | 16.46% |
| 2025-09-30 | 16.20% |
| 2025-06-30 | 15.95% |
| 2025-03-31 | 15.78% |
| 2024-12-31 | 14.69% |
| 2024-09-30 | 15.13% |
| 2024-06-30 | 16.23% |
| 2024-03-31 | 17.86% |
| 2023-12-31 | 21.65% |
| 2023-09-30 | 24.06% |
| 2023-06-30 | 26.91% |
| 2023-03-31 | 30.98% |
| 2022-12-31 | 35.77% |
| 2022-09-30 | 38.07% |
| 2022-06-30 | 38.41% |
| 2022-03-31 | 35.63% |
| 2021-12-31 | 34.52% |
| 2021-09-30 | 33.80% |
| 2021-06-30 | 35.02% |
| 2021-03-31 | 33.69% |
| 2020-12-31 | 31.30% |
| 2020-09-30 | 29.94% |
| 2020-06-30 | 31.71% |
| 2020-03-31 | 31.25% |
| 2019-12-31 | 30.57% |
| 2019-09-30 | 31.55% |
| 2019-06-30 | 33.45% |
| 2019-03-31 | 34.05% |
| 2018-12-31 | 36.35% |
| 2018-09-30 | 27.77% |
| 2018-06-30 | 25.84% |
| 2018-03-31 | 25.09% |
| 2017-12-31 | 23.19% |
| 2017-09-30 | 27.63% |
| 2017-06-30 | 26.50% |
| 2017-03-31 | 25.54% |
| 2016-12-31 | 23.65% |
| 2016-09-30 | 23.30% |
| 2016-06-30 | 22.33% |
| 2016-03-31 | 21.24% |
| 2015-12-31 | 20.63% |
| 2015-09-30 | 20.10% |
| 2015-06-30 | 18.99% |
| 2015-03-31 | 18.94% |
| 2014-12-31 | 17.90% |
| 2014-09-30 | 15.71% |
| 2014-06-30 | 14.54% |
| 2014-03-31 | 13.42% |
| 2013-12-31 | 12.93% |
| 2013-09-30 | 11.21% |
| 2013-06-30 | 11.90% |
| 2013-03-31 | 10.39% |
| 2012-12-31 | 9.89% |
| 2012-09-30 | 9.97% |
| 2012-06-30 | 9.57% |
| 2012-03-31 | 10.45% |
| 2011-12-31 | 12.32% |
| 2011-09-30 | 15.31% |
| 2011-06-30 | 20.27% |
| 2011-03-31 | 27.85% |
| 2010-12-31 | 28.04% |
| 2010-09-30 | 27.04% |
| 2010-06-30 | 24.53% |
| 2010-03-31 | 19.63% |
| 2009-12-31 | 13.78% |
| 2009-09-30 | 8.96% |
| 2009-06-30 | 9.32% |
| 2009-03-31 | 12.32% |
| 2008-12-31 | 18.14% |
| 2008-09-30 | 23.19% |
| 2008-06-30 | 24.97% |
| 2008-03-31 | 25.26% |
| 2007-12-31 | 23.51% |
| 2007-09-30 | 20.51% |
| 2007-06-30 | 19.28% |
| 2007-03-31 | 20.27% |
| 2006-12-31 | 20.59% |
| 2006-09-30 | 19.28% |
| 2006-06-30 | 17.92% |
| 2006-03-31 | 18.99% |
| 2005-12-31 | 16.45% |
| 2005-09-30 | 14.87% |
| 2005-06-30 | 14.93% |
| 2005-03-31 | 13.18% |
| 2004-12-31 | 11.79% |
| 2004-09-30 | 11.83% |
| 2004-06-30 | 10.46% |
| 2004-03-31 | 8.29% |
| 2003-12-31 | 6.73% |
| 2003-09-30 | 3.50% |
| 2003-06-30 | 3.48% |
