Apple Inc. (NASDAQ:AAPL)
Return on Capital (ROC)
Return on capital (ROC) is after tax rate of return on net business assets. ROIC is unaffected by changes in interest rates or company’s debt and equity structure. It measures business productivity performance.
Return on Invested Capital (ROIC)
Apple Inc., ROIC calculation
|Sep 28, 2019||Sep 29, 2018||Sep 30, 2017||Sep 24, 2016||Sep 26, 2015||Sep 27, 2014|
|Selected Financial Data (US$ in millions)|
|Net operating profit after taxes (NOPAT)1|
Based on: 10-K (filing date: 2019-10-31), 10-K (filing date: 2018-11-05), 10-K (filing date: 2017-11-03), 10-K (filing date: 2016-10-26), 10-K (filing date: 2015-10-28), 10-K (filing date: 2014-10-27).
1 NOPAT. See details »
2 Invested capital. See details »
3 2019 Calculation
ROIC = 100 × NOPAT ÷ Invested capital
= 100 × ÷ =
|Performance ratio||Description||The company|
|ROIC||A measure of the periodic, after tax, cash-on-cash yield earned in the business.||Apple Inc.’s ROIC deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level.|