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 626–650 of 906.
| # | Company | Sector | ROIC | Numerator | Operating margin | Market cap |
|---|---|---|---|---|---|---|
| 626 | Diamondrock Hospitality Company (DRH) | Real Estate | 6.4% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $2.9B |
| 627 | Boeing (BA) | Industrials | 6.4% | Operating income | 4.8% | $135.9B |
| 628 | Essential Utilities (WTRG) | Utilities | 6.4% | Operating income | 37.2% | $12.4B |
| 629 | Advanced Micro Devices (AMD) | Information Technology | 6.4% | Operating income | 10.7% | $824.1B |
| 630 | Digi International Inc (DGII) | Information Technology | 6.3% | Operating income | 13.1% | $2.8B |
| 631 | Kodiak Gas Services Inc (KGS) | Energy | 6.3% | Operating income | 26.0% | $4.7B |
| 632 | Geo Group Inc (The) REIT (GEO) | Industrials | 6.3% | Operating income | 9.8% | $3.8B |
| 633 | HB Fuller (FUL) | Materials | 6.3% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $2.7B |
| 634 | Bunge Global (BG) | Consumer Staples | 6.3% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $18.6B |
| 635 | Aebi Schmidt Holding AG (AEBI) | Industrials | 6.3% | Operating income | 4.8% | $880M |
| 636 | LSI Industries Inc (LYTS) | Industrials | 6.3% | Operating income | 6.2% | $745M |
| 637 | Block, Inc. (XYZ) | Financials | 6.2% | Operating income | 7.1% | $45.8B |
| 638 | Steven Madden Ltd (SHOO) | Consumer Discretionary | 6.2% | Operating income | 3.2% | $3.2B |
| 639 | COPT Defense Properties (CDP) | Real Estate | 6.2% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $3.8B |
| 640 | Stanley Black & Decker (SWK) | Industrials | 6.2% | EBIT = pre-tax income + interest (no operating income tagged) | 17.1% | $15.6B |
| 641 | Danaher Corporation (DHR) | Health Care | 6.2% | Operating income | 19.1% | $163.4B |
| 642 | Thryv Holdings Inc (THRY) | Information Technology | 6.1% | Operating income | 7.2% | $56M |
| 643 | DTE Energy (DTE) | Utilities | 6.1% | Operating income | n/a | $28.2B |
| 644 | Chesapeake Utilities Corporation (CPK) | Utilities | 6.1% | Operating income | 27.5% | $3.3B |
| 645 | Gencor Industries Inc (GENC) | Industrials | 6.1% | Operating income | n/a | $251M |
| 646 | Evergy (EVRG) | Utilities | 6.1% | Operating income | 25.7% | $19.8B |
| 647 | Loar Holdings (LOAR) | Industrials | 6.1% | Operating income | 21.4% | $5.8B |
| 648 | York Water Company (The) (YORW) | Utilities | 6.1% | Operating income | 35.8% | $513M |
| 649 | WEC Energy Group (WEC) | Utilities | 6.1% | Operating income | 22.9% | $38.2B |
| 650 | Analog Devices (ADI) | Information Technology | 6.0% | Operating income | 26.6% | $202.1B |
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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.