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 151–175 of 906.
| # | Company | Sector | ROIC | Numerator | Operating margin | Market cap |
|---|---|---|---|---|---|---|
| 151 | Allison Transmission (ALSN) | Industrials | 20.9% | Operating income | 29.2% | $8.9B |
| 152 | Visteon Corp (VC) | Consumer Discretionary | 20.8% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $1.8B |
| 153 | Applied Industrial Technologies (AIT) | Industrials | 20.8% | Operating income | 11.1% | $10.7B |
| 154 | Donnelley Financial Solutions Inc (DFIN) | Financials | 20.6% | Operating income | 18.4% | $1.6B |
| 155 | Watts Water Technologies (WTS) | Industrials | 20.5% | Operating income | 18.4% | $11.6B |
| 156 | Cheesecake Factory Inc (CAKE) | Consumer Discretionary | 20.5% | Operating income | 5.0% | $5.6B |
| 157 | FTAI Aviation (FTAI) | Industrials | 20.5% | EBIT = pre-tax income + interest (no operating income tagged) | n/a | $19.2B |
| 158 | Solventum (SOLV) | Health Care | 20.4% | Operating income | 26.2% | $13.8B |
| 159 | Autoliv Inc (ALV) | Consumer Discretionary | 20.4% | Operating income | 10.1% | $8.5B |
| 160 | Xeris Biopharma Holdings Inc (XERS) | Health Care | 20.2% | Operating income | 8.5% | $2.0B |
| 161 | Mueller Water Products Inc Series (MWA) | Industrials | 20.1% | Operating income | 18.2% | $3.6B |
| 162 | Procter & Gamble (PG) | Consumer Staples | 20.1% | Operating income | 22.7% | $374.5B |
| 163 | Uber (UBER) | Industrials | 20.0% | Operating income | 10.7% | $133.3B |
| 164 | Pool Corporation (POOL) | Consumer Discretionary | 20.0% | Operating income | 11.0% | $7.4B |
| 165 | Intuit (INTU) | Information Technology | 19.9% | Operating income | 27.4% | $91.2B |
| 166 | Sherwin-Williams (SHW) | Materials | 19.8% | EBIT = pre-tax income + interest (no operating income tagged) | 18.1% | $80.4B |
| 167 | MYR Group Inc (MYRG) | Industrials | 19.8% | Operating income | 4.6% | $4.4B |
| 168 | Cisco (CSCO) | Information Technology | 19.7% | Operating income | 24.3% | $412.0B |
| 169 | Molina Healthcare (MOH) | Health Care | 19.7% | Operating income | 1.7% | $10.7B |
| 170 | Tidewater Inc (TDW) | Energy | 19.7% | Operating income | 20.9% | $4.3B |
| 171 | Aveanna Healthcare Holdings Inc (AVAH) | Health Care | 19.7% | Operating income | 10.5% | $2.9B |
| 172 | Innovative Solutions and Support I (ISSC) | Industrials | 19.6% | Operating income | n/a | $444M |
| 173 | Broadcom (AVGO) | Information Technology | 19.6% | Operating income | 39.9% | $1.56T |
| 174 | Amazon (AMZN) | Consumer Discretionary | 19.5% | Operating income | 11.2% | $2.60T |
| 175 | Qualcomm (QCOM) | Information Technology | 19.4% | Operating income | 27.9% | $173.0B |
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.