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 10.40% is in line with its 5-year average of 10.47%, around the middle of its 5-year range (8.11%–15.24%).
As of the fiscal period ended Friday, July 31, 2026. 8.51% above its 12-month average of 9.59%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2027 (2026-07-31): 10.40%.
RETURN ON INVESTED CAPITAL (ROIC)
10.40%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
9.59%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
9.04%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
10.47%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
12.65%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+8.51%
CURRENT VS 3Y AVG
+15.14%
CURRENT VS 5Y AVG
-0.65%
CURRENT VS 10Y AVG
-17.76%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · TECHNOLOGY
8.17%
median of 193 covered companies
CURRENT VS SECTOR MEDIAN
+27.34%
vs the sector median at left
Veeva Systems Inc.
Market Cap
$42.37B
Return on Invested Capital (ROIC)
10.40%
TTM Avg
9.59%
3Y Avg
9.04%
5Y Avg
10.47%
Market Cap
$42.53B
Return on Invested Capital (ROIC)
-0.07%
TTM Avg
-3.67%
3Y Avg
-17.72%
5Y Avg
-16.03%
Market Cap
$43.70B
Return on Invested Capital (ROIC)
21.19%
TTM Avg
18.64%
3Y Avg
17.32%
5Y Avg
15.98%
Market Cap
$39.69B
Return on Invested Capital (ROIC)
6.01%
TTM Avg
5.56%
3Y Avg
5.30%
5Y Avg
5.10%
Market Cap
$45.39B
Return on Invested Capital (ROIC)
1.88%
TTM Avg
3.59%
3Y Avg
12.69%
5Y Avg
12.76%
Market Cap
$39.18B
Return on Invested Capital (ROIC)
-2.34%
TTM Avg
-6.30%
3Y Avg
-8.21%
5Y Avg
-1.47%
Market Cap
$38.71B
Return on Invested Capital (ROIC)
5.01%
TTM Avg
2.13%
3Y Avg
8.76%
5Y Avg
8.73%
Market Cap
$46.64B
Return on Invested Capital (ROIC)
0.22%
TTM Avg
-2.17%
3Y Avg
-6.29%
5Y Avg
-2.37%
Market Cap
$37.48B
Return on Invested Capital (ROIC)
29.75%
TTM Avg
21.92%
3Y Avg
15.57%
5Y Avg
11.93%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Veeva Systems Inc. (VEEV) | $42.37B | 10.40% | 9.59% | 9.04% | 10.47% |
| Strategy Inc (MSTR)vs › | $42.53B | -0.07% | -3.67% | -17.72% | -16.03% |
| Autodesk, Inc. (ADSK)vs › | $43.70B | 21.19% | 18.64% | 17.32% | 15.98% |
| Roper Technologies, Inc. (ROP)vs › | $39.69B | 6.01% | 5.56% | 5.30% | 5.10% |
| STMicroelectronics N.V. (STM)vs › | $45.39B | 1.88% | 3.59% | 12.69% | 12.76% |
| Take-Two Interactive Software, Inc. (TTWO)vs › | $39.18B | -2.34% | -6.30% | -8.21% | -1.47% |
| Microchip Technology Incorporated (MCHP)vs › | $38.71B | 5.01% | 2.13% | 8.76% | 8.73% |
| Atlassian Corporation (TEAM)vs › | $46.64B | 0.22% | -2.17% | -6.29% | -2.37% |
| Celestica Inc. (CLS)vs › | $37.48B | 29.75% | 21.92% | 15.57% | 11.93% |
| Block, Inc. (XYZ)vs › | $47.26B | 4.78% | 6.63% | 3.67% | 2.70% |
ROIC
10.4%
ROE
13.7%
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) |
|---|---|
| 2026-07-31 | 10.40% |
| 2026-04-30 | 9.73% |
| 2026-01-31 | 9.50% |
| 2025-10-31 | 9.19% |
| 2025-07-31 | 9.11% |
| 2025-04-30 | 9.42% |
| 2025-01-31 | 9.04% |
| 2024-10-31 | 8.86% |
| 2024-07-31 | 8.72% |
| 2024-04-30 | 8.33% |
| 2024-01-31 | 8.11% |
| 2023-10-31 | 9.04% |
| 2023-07-31 | 9.37% |
| 2023-04-30 | 9.78% |
| 2023-01-31 | 11.58% |
| 2022-10-31 | 10.81% |
| 2022-07-31 | 11.59% |
| 2022-04-30 | 13.02% |
| 2022-01-31 | 14.17% |
| 2021-10-31 | 14.89% |
| 2021-07-31 | 15.24% |
| 2021-04-30 | 15.63% |
| 2021-01-31 | 15.64% |
| 2020-10-31 | 15.19% |
| 2020-07-31 | 15.33% |
| 2020-04-30 | 15.67% |
| 2020-01-31 | 15.97% |
| 2019-10-31 | 17.49% |
| 2019-07-31 | 17.92% |
| 2019-04-30 | 17.60% |
| 2019-01-31 | 17.13% |
| 2018-10-31 | 16.11% |
| 2018-07-31 | 15.07% |
| 2018-04-30 | 15.12% |
| 2018-01-31 | 16.26% |
| 2017-10-31 | 15.43% |
| 2017-07-31 | 14.86% |
| 2017-04-30 | 12.88% |
| 2017-01-31 | 10.10% |
| 2016-10-31 | 10.25% |
| 2016-07-31 | 9.12% |
| 2016-04-30 | 9.65% |
| 2016-01-31 | 10.48% |
| 2015-10-31 | 10.43% |
| 2015-07-31 | 11.24% |
| 2015-04-30 | 10.97% |
| 2015-01-31 | 10.27% |
| 2014-10-31 | 8.87% |
| 2014-07-31 | 8.25% |
| 2014-04-30 | 7.84% |
| 2014-01-31 | 8.50% |
| 2013-10-31 | 8.62% |
| 2013-07-31 | 44.69% |
