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Altria Group Inc. (MO)
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)
Altria Group Inc., ROIC calculation
|Dec 31, 2018||Dec 31, 2017||Dec 31, 2016||Dec 31, 2015||Dec 31, 2014|
|Selected Financial Data (USD $ in millions)|
|Net operating profit after taxes (NOPAT)1|
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.||Altria Group Inc.’s ROIC deteriorated from 2016 to 2017 and from 2017 to 2018.|