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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 30, 2017||Sep 24, 2016||Sep 26, 2015||Sep 27, 2014||Sep 28, 2013||Sep 29, 2012|
|Selected Financial Data (USD $ in millions)|
|Net operating profit after taxes (NOPAT)1|
Source: Based on data from Apple Inc. Annual Reports
1 NOPAT. See Details »
2 Invested capital. See Details »
3 ROIC = 100 × NOPAT ÷ Invested capital
= 100 × ÷ = %
|ROIC||A measure of the periodic, after tax, cash-on-cash yield earned in the business.||Apple Inc.'s ROIC deteriorated from 2015 to 2016 and from 2016 to 2017.|