Highest return-on-invested-capital companies
Companies ranked by return on invested capital (ROIC), computed from each company’s own latest 10-K: NOPAT (operating income × (1 − the year’s effective tax rate, bounded 0–50%)) divided by invested capital (total debt, leases excluded, + stockholders’ equity − cash), averaged over the fiscal year’s opening and closing balance sheets. Where the 10-K tags no operating income, the numerator is EBIT = pre-tax income + interest expense, and the Numerator column says so for that row. A company whose filing does not support the calculation — neither operating income nor interest tagged, a pre-tax loss, debt reported only together with finance leases, a bank or insurer — gets no ROIC rather than an estimate. A company whose cash offsets more than 80% of its debt and equity (invested capital under 20% of debt plus equity) gets no ROIC either, because the ratio would divide by a small residual.
2216 companies have no ROIC from their filings and are left out: pre-tax loss 828; bank or insurer 468; no debt line tagged 225; no pre-tax income tagged 195; debt filed only with finance leases 120; no operating income tagged 84; debt under a line we do not read 76; negative or zero equity 60; no operating income or interest tagged 49; not a US-GAAP filer 47; interest implies unread debt 25; fiscal year over 18 months old 13; invested capital not positive 7; cash offsets most of its capital 7; no cash tagged 7; no tax expense tagged 3; no fiscal-year-end balance sheet 2.
Ranked by ROIC: companies 351–375 of 906.
| # | Company | Sector | ROIC | Numerator | Operating margin | Market cap |
|---|---|---|---|---|---|---|
| 351 | NXP Semiconductors (NXPI) | Information Technology | 12.3% | Operating income | 24.8% | $65.4B |
| 352 | Carnival Corporation (CCL) | Consumer Discretionary | 12.3% | Operating income | 16.8% | $38.8B |
| 353 | CRH plc (CRH) | Materials | 12.3% | Operating income | 14.5% | $60.4B |
| 354 | Bentley Systems (BSY) | Information Technology | 12.3% | Operating income | 24.1% | $12.4B |
| 355 | Moog Inc. (MOG.A) | Industrials | 12.3% | Operating income | 11.6% | $11.1B |
| 356 | Walt Disney Company (The) (DIS) | Communication Services | 12.2% | Operating income | 18.6% | $191.6B |
| 357 | SSR Mining Inc (SSRM) | Materials | 12.2% | Operating income | 28.8% | $5.4B |
| 358 | LendingTree Inc (TREE) | Financials | 12.1% | Operating income | 5.8% | $392M |
| 359 | Archrock Inc (AROC) | Energy | 12.1% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $5.6B |
| 360 | Diebold Nixdorf Incorporated (DBD) | Information Technology | 12.1% | Operating income | 6.4% | $1.8B |
| 361 | Keysight Technologies (KEYS) | Information Technology | 12.1% | Operating income | 16.3% | $52.3B |
| 362 | Leonardo DRS (DRS) | Industrials | 12.1% | Operating income | 9.5% | $10.0B |
| 363 | Lindsay Corporation (LNN) | Industrials | 11.9% | Operating income | 10.5% | $1.1B |
| 364 | Carters Inc (CRI) | Consumer Discretionary | 11.9% | Operating income | 5.0% | $1.2B |
| 365 | Amplify Energy Corp (AMPY) | Energy | 11.9% | Operating income | 29.2% | $177M |
| 366 | OPENLANE Inc (OPLN) | Industrials | 11.9% | Operating income | 10.2% | $4.8B |
| 367 | Somnigroup International (SGI) | Consumer Discretionary | 11.9% | Operating income | 10.1% | $13.4B |
| 368 | Solstice Advanced Materials (SOLS) | Materials | 11.8% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $9.6B |
| 369 | UFP Industries Inc (UFPI) | Industrials | 11.8% | Operating income | n/a | $4.5B |
| 370 | ACM Research Inc (ACMR) | Information Technology | 11.8% | Operating income | 12.1% | $3.2B |
| 371 | Hackett Group Inc (The). (HCKT) | Information Technology | 11.8% | Operating income | 7.7% | $319M |
| 372 | S&P Global (SPGI) | Financials | 11.7% | Operating income | 42.2% | $135.3B |
| 373 | Gibraltar Industries Inc (ROCK) | Industrials | 11.7% | Operating income | 10.8% | $1.2B |
| 374 | Packaging Corporation of America (PKG) | Materials | 11.7% | Operating income | 12.3% | $22.9B |
| 375 | Matador Resources (MTDR) | Energy | 11.7% | Operating income | 33.2% | $7.5B |
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Data: SEC EDGAR (filings) + market data (fundamentals, delayed daily-close). Every figure is shown with its as-of date on the company page; a company with no data for this metric is excluded from the ranking, never estimated.
Last updated 2026-10-30 — rankings shift as the underlying data refreshes.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.