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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)
AT&T Inc., ROIC calculation
|Dec 31, 2017||Dec 31, 2016||Dec 31, 2015||Dec 31, 2014||Dec 31, 2013|
|Selected Financial Data (USD $ in millions)|
|Net operating profit after taxes (NOPAT)1|
Source: Based on data from AT&T 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.||AT&T Inc.'s ROIC deteriorated from 2015 to 2016 but then improved from 2016 to 2017 exceeding 2015 level.|