Duolingo
Duolingo returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 12.24% | — | 34.42% | 22.72% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 12.87% | — | 36.96% | 24.41% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | 11.68% | — | 38.14% | 25.14% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | 9.3% | — | 36.25% | 24.86% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 8.92% | — | 13.44% | 8.74% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 8.14% | — | 12.06% | 7.83% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 8.05% | — | 11.97% | 7.85% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | 7.07% | — | 12.08% | 8.3% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 4.9% | — | 9.72% | 6.71% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 1.73% | — | 7.15% | 4.91% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | -2.13% | — | 2.68% | 1.89% | — |
| FY 2023 Q3 | Sep 30, 2023 | — | -6.07% | — | -1.74% | -1.26% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | -8.83% | — | -5.55% | -4.07% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | -10.89% | — | -9.21% | -6.78% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | -11.77% | — | -11.29% | -8.46% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | -11.97% | — | -12.09% | -9.49% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | -22.45% | — | -33.92% | -16.69% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | — | — | — | — | — |
| FY 2021 Q4 | Dec 31, 2021 | — | — | — | — | — | — |
| FY 2021 Q3 | Sep 30, 2021 | — | — | — | — | — | — |
| FY 2021 Q2 | Jun 30, 2021 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 9.3%, rounded from the Software · System & Application benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · DUOL, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.