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 476–500 of 906.
| # | Company | Sector | ROIC | Numerator | Operating margin | Market cap |
|---|---|---|---|---|---|---|
| 476 | nVent Electric (NVT) | Industrials | 9.3% | Operating income | 15.8% | $20.4B |
| 477 | Floor & Decor (FND) | Consumer Discretionary | 9.3% | Operating income | 5.8% | $5.0B |
| 478 | Elevance Health (ELV) | Health Care | 9.3% | Operating income | 3.6% | $90.8B |
| 479 | CareTrust REIT Inc (CTRE) | Real Estate | 9.3% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $8.6B |
| 480 | Ingram Micro (INGM) | Information Technology | 9.2% | Operating income | 1.7% | $6.5B |
| 481 | OUTFRONT Media Inc (OUT) | Real Estate | 9.2% | Operating income | 16.0% | $5.6B |
| 482 | Amphastar Pharmaceuticals Inc (AMPH) | Health Care | 9.2% | Operating income | 19.5% | $1.2B |
| 483 | TripAdvisor Inc (TRIP) | Communication Services | 9.2% | Operating income | 4.2% | $1.1B |
| 484 | Wabtec (WAB) | Industrials | 9.1% | Operating income | 16.1% | $46.9B |
| 485 | Charter Communications (CHTR) | Communication Services | 9.1% | Operating income | 23.6% | $13.3B |
| 486 | WEX Inc. (WEX) | Financials | 9.1% | Operating income | 25.0% | $6.1B |
| 487 | Amkor Technology (AMKR) | Information Technology | 9.1% | Operating income | 7.0% | $9.8B |
| 488 | Terex Corporation (TEX) | Industrials | 9.1% | Operating income | 8.8% | $6.3B |
| 489 | Knife River Corp (KNF) | Materials | 9.1% | Operating income | 9.1% | $3.3B |
| 490 | Brown & Brown (BRO) | Financials | 9.1% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $23.1B |
| 491 | ARKO Corp (ARKO) | Consumer Discretionary | 9.0% | Operating income | 1.8% | $425M |
| 492 | VF Corporation (VFC) | Consumer Discretionary | 9.0% | Operating income | 6.0% | $7.2B |
| 493 | Louisiana-Pacific (LPX) | Materials | 9.0% | Operating income | 7.7% | $5.1B |
| 494 | Omega Healthcare Investors (OHI) | Real Estate | 9.0% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $14.2B |
| 495 | Kirby Corporation (KEX) | Industrials | 8.9% | Operating income | 14.8% | $7.6B |
| 496 | Sensient Technologies Corporation (SXT) | Materials | 8.9% | Operating income | 12.8% | $5.0B |
| 497 | StandardAero (SARO) | Industrials | 8.9% | Operating income | 9.1% | $7.7B |
| 498 | Timken Company (TKR) | Industrials | 8.9% | Operating income | 11.8% | $7.7B |
| 499 | El Pollo Loco Holdings Inc (LOCO) | Consumer Discretionary | 8.9% | Operating income | n/a | $466M |
| 500 | HealthEquity Inc (HQY) | Health Care | 8.9% | Operating income | 24.6% | $8.5B |
Find more highest return-on-invested-capital companies like these →
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.