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Return on Capital (ROC)
Difficulty: Advanced
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)
Cisco Systems Inc., ROIC calculation
| Jul 28, 2018 | Jul 29, 2017 | Jul 30, 2016 | Jul 25, 2015 | Jul 26, 2014 | Jul 27, 2013 | ||
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| Selected Financial Data (USD $ in millions) | |||||||
| Net operating profit after taxes (NOPAT)1 | |
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| ROIC3 | |
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Based on: 10-K (filing date: 2018-09-06), 10-K (filing date: 2017-09-07), 10-K (filing date: 2016-09-08), 10-K (filing date: 2015-09-08), 10-K (filing date: 2014-09-09), 10-K (filing date: 2013-09-10).
2018 Calculations
1 NOPAT. See Details »
2 Invested capital. See Details »
3 ROIC = 100 × NOPAT ÷ Invested capital
= 100 × ÷ =
| Ratio | Description | The company |
|---|---|---|
| ROIC | A measure of the periodic, after tax, cash-on-cash yield earned in the business. | Cisco Systems Inc.’s ROIC deteriorated from 2016 to 2017 and from 2017 to 2018. |
