Return on Invested Capital snapshot
Google's return on invested capital was 24.7% in FY2025, compared with 29.7% in FY2024. On a trailing-twelve-month basis it was 21.8% as of Q1 FY26. Return on invested capital (ROIC) is after-tax operating profit divided by invested capital (debt plus equity, less cash). It measures the return a company earns on the total capital put to work in the business.
Return on Invested Capital (latest FY)
24.7%
Return on Invested Capital (TTM)
21.8%
Return on equity (latest FY)
31.8%
Return on assets (latest FY)
22.2%
Google Return on Invested Capital
After-tax operating profit ÷ invested capital
Return on Invested Capital vs. related metrics
Google Return on Invested Capital — by fiscal year
| Fiscal year | Return on invested capital | Return on equity | Return on assets |
|---|---|---|---|
| FY2025 | 24.7% | 31.8% | 22.2% |
| FY2024 | 29.7% | 30.8% | 22.2% |
| FY2023 | 26.6% | 26.0% | 18.3% |
| FY2022 | 25.2% | 23.4% | 16.4% |
| FY2021 | 26.9% | 30.2% | 21.2% |
| FY2020 | 16.4% | 18.1% | 12.6% |
| FY2019 | 15.8% | 17.0% | 12.4% |
| FY2018 | 14.7% | 17.3% | 13.2% |
| FY2017 | 8.4% | 8.3% | 6.4% |
| FY2016 | 14.7% | 14.0% | 11.6% |
| FY2015 | 14.7% | 13.6% | 11.1% |
| FY2014 | 14.3% | 13.6% | 10.9% |
| FY2013 | — | 14.6% | — |
| FY2012 | — | — | — |
By quarter (trailing-twelve-month basis)
| Quarter | Return on invested capital | Return on equity | Return on assets |
|---|---|---|---|
| Q1 FY26 | 21.8% | 33.5% | 22.8% |
| Q4 FY25 | 24.7% | 31.8% | 22.2% |
| Q3 FY25 | 25.8% | 32.1% | 23.2% |
| Q2 FY25 | 27.0% | 31.8% | 23.0% |
| Q1 FY25 | 29.1% | 32.1% | 23.3% |
| Q4 FY24 | 29.7% | 30.8% | 22.2% |
| Q3 FY24 | 28.6% | 30.0% | 21.9% |
| Q2 FY24 | 29.4% | 29.1% | 21.1% |
| Q1 FY24 | 28.2% | 28.1% | 20.2% |
| Q4 FY23 | 26.6% | 26.0% | 18.3% |
| Q3 FY23 | 26.0% | 24.4% | 16.8% |
| Q2 FY23 | 24.1% | 22.8% | 15.9% |
Figures normalized from SEC filings. See the full Google ratios & metrics.