US companies with the highest ROIC
Updated November 15, 2026
Return on invested capital (ROIC) shows how much operating profit a company earns on every $100 it has put into the business. Companies that keep ROIC above 20% for years usually have a real competitive advantage, what Warren Buffett calls a moat.
| # | Company | 5-yr avg ROIC | Net margin | Market cap | Score |
|---|---|---|---|---|---|
| 1 | NVIDIA Corp.NVDA | 47% | 43% | $3.92T | 4.8 |
| 2 | Comfort Systems USA Inc.FIX | 22% | 7% | $38.9B | 4.6 |
| 3 | EMCOR Group, Inc.EME | 23% | 5% | $28.9B | 4.4 |
| 4 | Mueller Industries Inc.MLI | 28% | 16% | $12.0B | 4.4 |
| 5 | Ameriprise Financial Inc.AMP | 66% | 20% | $45.1B | 4.2 |
| 6 | Lam Research Corp.LRCX | 37% | 28% | $282.2B | 4.0 |
| 7 | CF Industries Holdings, Inc.CF | 26% | 22% | $18.3B | 4.0 |
| 8 | Logitech International SALOGI | 24% | 13% | $14.5B | 4.0 |
| 9 | Jack Henry & Associates Inc.JKHY | 21% | 18% | $12.4B | 4.0 |
| 10 | Deckers Outdoor Corp.DECK | 30% | 17% | $11.6B | 4.0 |
| 11 | Paycom Software, Inc.PAYC | 24% | 22% | $11.2B | 4.0 |
| 12 | Alphabet Inc.GOOGL | 24% | 27% | $3.64T | 3.8 |
| 13 | Taiwan Semiconductor Manufacturing Co. Ltd.TSM | 27% | 40% | $2.07T | 3.8 |
| 14 | ASML Holding NVASML | 38% | 29% | $576.3B | 3.8 |
| 15 | Arista Networks, Inc.ANET | 25% | 35% | $249.3B | 3.8 |
| 16 | Booking Holdings Inc.BKNG | 34% | 19% | $118.7B | 3.8 |
| 17 | lululemon athletica inc.LULU | 25% | 15% | $12.2B | 3.8 |
| 18 | Microsoft Corp.MSFT | 27% | 37% | $3.89T | 3.6 |
| 19 | Meta Platforms, Inc.META | 22% | 30% | $1.64T | 3.6 |
| 20 | Qualcomm Inc/deQCOM | 25% | 24% | $184.5B | 3.6 |
| 21 | Accenture plcACN | 23% | 11% | $148.0B | 3.6 |
| 22 | Southern Copper CorpSCCO | 21% | 29% | $138.5B | 3.6 |
| 23 | Adobe Inc.ADBE | 29% | 28% | $94.6B | 3.6 |
| 24 | Fortinet, Inc.FTNT | 93% | 23% | $93.5B | 3.6 |
| 25 | Nucor Corp.NUE | 21% | 12% | $56.6B | 3.6 |
A closer look at the top three
NVIDIA Corp. (NVDA): A five-year average ROIC of 47%. It has revenue growth of 100% a year over three years, an average net margin of 53%, a P/E of about 21, an intrinsic value about 143% above the current price and an overall score of 4.8 out of 5 (strong company).
Comfort Systems USA Inc. (FIX): A five-year average ROIC of 22%. It has revenue growth of 30% a year over three years, an average net margin of 8%, a P/E of about 24, an intrinsic value about 142% above the current price and an overall score of 4.6 out of 5 (strong company).
EMCOR Group, Inc. (EME): A five-year average ROIC of 23%. It has revenue growth of 15% a year over three years, an average net margin of 6%, a P/E of about 19, an intrinsic value about 41% above the current price and an overall score of 4.4 out of 5 (strong company).
Frequently asked questions
What is a good ROIC?
Above 10–12% usually means a company earns more than its cost of capital; above 20% is excellent.
How is ROIC different from ROE?
ROE only counts shareholders’ equity and rises with debt; ROIC includes debt and gives a truer picture.
More lists and tools
Lists are generated automatically from SEC filings and market prices and rebuilt every day. They are a starting point for research, not a recommendation to buy or sell.