Nasdaq
Nasdaq returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 10.29% | 11.34% | — | 16.53% | 6.82% | 2.6 pp |
| FY 2026 Q1 | Mar 31, 2026 | 9.83% | 10.71% | 165.15% | 16.22% | 6.6% | 2.1 pp |
| FY 2025 Q4 | Dec 31, 2025 | 9.54% | 10.23% | 102.65% | 15.27% | 5.82% | 1.8 pp |
| FY 2025 Q3 | Sep 30, 2025 | 8.7% | 9.73% | — | 14.07% | 5.31% | 1 pp |
| FY 2025 Q2 | Jun 30, 2025 | 8.44% | 9.21% | — | 13.28% | 4.98% | 0.7 pp |
| FY 2025 Q1 | Mar 31, 2025 | 7.49% | 8.5% | — | 11.43% | 4.2% | -0.2 pp |
| FY 2024 Q4 | Dec 31, 2024 | 6.76% | 7.86% | — | 10.15% | 3.56% | -0.9 pp |
| FY 2024 Q3 | Sep 30, 2024 | 7.7% | 8.18% | 0.14% | 10.94% | 3.49% | 0 pp |
| FY 2024 Q2 | Jun 30, 2024 | 7.43% | 8.17% | -0.27% | 11.05% | 3.39% | -0.3 pp |
| FY 2024 Q1 | Mar 31, 2024 | 7.56% | 9.02% | -0.15% | 11.69% | 3.89% | -0.1 pp |
| FY 2023 Q4 | Dec 31, 2023 | 7.47% | 8.94% | -0% | 12.48% | 3.98% | -0.2 pp |
| FY 2023 Q3 | Sep 30, 2023 | 11.01% | 10.89% | — | 17.89% | 4.67% | 3.3 pp |
| FY 2023 Q2 | Jun 30, 2023 | 10.77% | 10.68% | — | 18.28% | 4.58% | 3.1 pp |
| FY 2023 Q1 | Mar 31, 2023 | 10.72% | 13.07% | — | 18.78% | 5.5% | 3 pp |
| FY 2022 Q4 | Dec 31, 2022 | 10.4% | 12.89% | — | 17.93% | 5.49% | 2.7 pp |
| FY 2022 Q3 | Sep 30, 2022 | 10.59% | 12.77% | — | 18.72% | 5.53% | 2.9 pp |
| FY 2022 Q2 | Jun 30, 2022 | 10.26% | 12.23% | — | 18.21% | 5.61% | 2.6 pp |
| FY 2022 Q1 | Mar 31, 2022 | 10.02% | 11.89% | — | 18.99% | 5.96% | 2.3 pp |
| FY 2021 Q4 | Dec 31, 2021 | 10.58% | 11.39% | 6.33% | 18.51% | 6.23% | 2.9 pp |
| FY 2021 Q3 | Sep 30, 2021 | 10.45% | 12.06% | 6.78% | 18.65% | 6.93% | 2.8 pp |
| FY 2021 Q2 | Jun 30, 2021 | 10.34% | 11.84% | 7.2% | 18.17% | 6.93% | 2.6 pp |
| FY 2021 Q1 | Mar 31, 2021 | 10.23% | 11.88% | 8.83% | 17.53% | 6.18% | 2.5 pp |
| FY 2020 Q4 | Dec 31, 2020 | 10.6% | 10.85% | 32.98% | 15.46% | 5.85% | 2.9 pp |
| FY 2020 Q3 | Sep 30, 2020 | 10.22% | 11.78% | 82.79% | 16.07% | 6.55% | 2.5 pp |
| FY 2020 Q2 | Jun 30, 2020 | 9.42% | 10.81% | — | 14.1% | 5.56% | 1.7 pp |
| FY 2020 Q1 | Mar 31, 2020 | 8.88% | 11.17% | — | 13.41% | 4.98% | 1.2 pp |
| FY 2019 Q4 | Dec 31, 2019 | 8.86% | 10.8% | — | 13.96% | 5.23% | 1.2 pp |
| FY 2019 Q3 | Sep 30, 2019 | 5.44% | 10.88% | — | 9.64% | 3.79% | -2.3 pp |
| FY 2019 Q2 | Jun 30, 2019 | 5.68% | 10.95% | — | 9.74% | 3.69% | -2 pp |
| FY 2019 Q1 | Mar 31, 2019 | 5.31% | 11.08% | — | 9.41% | 3.49% | -2.4 pp |
| FY 2018 Q4 | Dec 31, 2018 | 4.8% | 10.46% | — | 8.08% | 2.91% | -2.9 pp |
| FY 2018 Q3 | Sep 30, 2018 | 8.98% | 10.63% | — | 13.2% | 5% | 1.3 pp |
| FY 2018 Q2 | Jun 30, 2018 | 9.11% | 11.24% | -39.69% | 13.6% | 5.07% | 1.4 pp |
| FY 2018 Q1 | Mar 31, 2018 | 9.35% | 10.58% | 4.78% | 13.38% | 4.89% | 1.6 pp |
| FY 2017 Q4 | Dec 31, 2017 | 9.08% | 9.7% | 15.36% | 12.97% | 4.9% | 1.4 pp |
| FY 2017 Q3 | Sep 30, 2017 | — | 9.18% | — | 4.56% | 1.75% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | 9.17% | — | 3.93% | 1.49% | — |
| FY 2017 Q1 | Mar 31, 2017 | — | 9.19% | — | 2.62% | 1.03% | — |
| FY 2016 Q4 | Dec 31, 2016 | 8.17% | 8.84% | 18.61% | 1.96% | 0.83% | 0.5 pp |
| FY 2016 Q3 | Sep 30, 2016 | 6.53% | 8.86% | 5.76% | 8.51% | 3.62% | -1.2 pp |
| FY 2016 Q2 | Jun 30, 2016 | — | 8.8% | — | 8.54% | 3.59% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | 10.08% | — | 9.8% | 4.25% | — |
| FY 2015 Q4 | Dec 31, 2015 | 6.36% | 7.99% | — | 7.51% | 3.57% | -1.3 pp |
| FY 2015 Q3 | Sep 30, 2015 | 5.86% | 7.04% | — | 6.28% | 2.99% | -1.8 pp |
| FY 2015 Q2 | Jun 30, 2015 | — | 6.69% | — | 5.89% | 2.78% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | 6.57% | — | 5.41% | 2.53% | — |
| FY 2014 Q4 | Dec 31, 2014 | 6.52% | 7.99% | — | 6.91% | 3.36% | -1.2 pp |
| FY 2014 Q3 | Sep 30, 2014 | 6.3% | 8.51% | — | 7.69% | 3.72% | -1.4 pp |
| FY 2014 Q2 | Jun 30, 2014 | 6.22% | 8.48% | 439.94% | 7.59% | 3.65% | -1.5 pp |
| FY 2014 Q1 | Mar 31, 2014 | 6.69% | 8.96% | 5.67% | 7.78% | 4.02% | -1 pp |
| FY 2013 Q4 | Dec 31, 2013 | 5.84% | 7.65% | 0.05% | 6.76% | 3.55% | -1.9 pp |
| FY 2013 Q3 | Sep 30, 2013 | 5.22% | 6.99% | -3.21% | 5.88% | 3.07% | -2.5 pp |
| FY 2013 Q2 | Jun 30, 2013 | 5.08% | 6.79% | -5.02% | 5.64% | 2.92% | -2.6 pp |
| FY 2013 Q1 | Mar 31, 2013 | 6.02% | 7.5% | — | 5.99% | 3.4% | -1.7 pp |
| FY 2012 Q4 | Dec 31, 2012 | 6.62% | 8.48% | -28.33% | 6.91% | 3.03% | -1.1 pp |
| FY 2012 Q3 | Sep 30, 2012 | 6.79% | 8.3% | -352.34% | 6.88% | 3.15% | -0.9 pp |
| FY 2012 Q2 | Jun 30, 2012 | 7.01% | 8.63% | — | 7.3% | 3.19% | -0.7 pp |
| FY 2012 Q1 | Mar 31, 2012 | 6.61% | 8.33% | — | 7.23% | 2.72% | -1.1 pp |
| FY 2011 Q4 | Dec 31, 2011 | 6.98% | 8.68% | — | 7.98% | 2.55% | -0.7 pp |
| FY 2011 Q3 | Sep 30, 2011 | 7.72% | 8.77% | — | 8.81% | 3.77% | 0 pp |
| FY 2011 Q2 | Jun 30, 2011 | 7.8% | 8.55% | — | 8.83% | 3.6% | 0.1 pp |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | — | — | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | — | — | — |
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 7.7%, rounded from the US nonfinancial market · generic proxy 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 · NDAQ, 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.