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Johnson & Johnson (JNJ)
Return on Capital (ROC)
High level of difficulty
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)
Johnson & Johnson, ROIC calculation
| Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 28, 2014 | ||
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| Selected Financial Data (US$ in millions) | ||||||
| Net operating profit after taxes (NOPAT)1 | |
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| Invested capital2 | |
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| Performance Ratio | ||||||
| ROIC3 | |
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Based on: 10-K (filing date: 2019-02-20), 10-K (filing date: 2018-02-21), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-24).
1 NOPAT. See details »
2 Invested capital. See details »
3 2018 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. | Johnson & Johnson’s ROIC deteriorated from 2016 to 2017 but then improved from 2017 to 2018 not reaching 2016 level. |