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 576–600 of 906.
| # | Company | Sector | ROIC | Numerator | Operating margin | Market cap |
|---|---|---|---|---|---|---|
| 576 | J & J Snack Foods Corp (JJSF) | Consumer Staples | 7.3% | Operating income | n/a | $1.6B |
| 577 | Vistra Corp . (VST) | Utilities | 7.3% | Operating income | 10.7% | $46.4B |
| 578 | Whirlpool Corporation (WHR) | Consumer Discretionary | 7.3% | Operating income | 5.4% | $2.0B |
| 579 | ABM Industries Incorporated (ABM) | Industrials | 7.3% | Operating income | 3.6% | $3.1B |
| 580 | McGraw Hill Inc (MH) | Consumer Discretionary | 7.3% | Operating income | 13.2% | $2.6B |
| 581 | The Pennant Group Inc (PNTG) | Health Care | 7.3% | Operating income | 5.5% | $1.5B |
| 582 | Huntington Ingalls Industries (HII) | Industrials | 7.3% | Operating income | 5.3% | $12.5B |
| 583 | Keurig Dr Pepper (KDP) | Consumer Staples | 7.3% | Operating income | 21.5% | $48.8B |
| 584 | Savers Value Village Inc (SVV) | Consumer Discretionary | 7.3% | Operating income | 7.4% | $1.4B |
| 585 | Arrow Electronics (ARW) | Information Technology | 7.2% | Operating income | 2.7% | $10.6B |
| 586 | TransUnion (TRU) | Industrials | 7.2% | Operating income | 18.7% | $14.6B |
| 587 | Biogen (BIIB) | Health Care | 7.2% | EBIT = pre-tax income + interest (no operating income tagged) | 25.9% | $37.5B |
| 588 | Lamb Weston (LW) | Consumer Staples | 7.1% | Operating income | 8.9% | $7.5B |
| 589 | National Energy Services Reunited Corp (NESR) | Energy | 7.1% | Operating income | 7.4% | $2.1B |
| 590 | EquipmentShare.com Inc (EQPT) | Industrials | 7.1% | Operating income | 6.8% | $4.4B |
| 591 | Marvell Technology (MRVL) | Information Technology | 7.1% | Operating income | 16.1% | $172.2B |
| 592 | Shift4 (FOUR) | Information Technology | 7.1% | Operating income | 8.4% | $3.2B |
| 593 | Tetra Technologies Inc (TTI) | Energy | 7.1% | Operating income | n/a | $868M |
| 594 | Ovintiv (OVV) | Energy | 7.0% | Operating income | 12.7% | $20.0B |
| 595 | Mission Produce Inc (AVO) | Consumer Staples | 7.0% | Operating income | 4.7% | $1.0B |
| 596 | CSW Industrials Inc (CSW) | Industrials | 6.9% | Operating income | 15.6% | $4.7B |
| 597 | Tennant Company (TNC) | Industrials | 6.9% | Operating income | 5.7% | $1.1B |
| 598 | Boise Cascade L.L.C. (BCC) | Industrials | 6.9% | Operating income | 2.9% | $2.8B |
| 599 | Pursuit Attractions and Hospitality Inc (PRSU) | Consumer Discretionary | 6.9% | EBIT = pre-tax income + interest (no operating income tagged) | 31.0% | $1.5B |
| 600 | Land End Inc (LE) | Consumer Discretionary | 6.9% | Operating income | 3.8% | $281M |
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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.