Normalized Return On Invested Capital (Historical)
Returns the normalized return on invested capital (ROIC) for a company, adjusted for non-recurring items. ROIC measures how efficiently a company uses capital invested in operations.
Supported Symbol Formats
| Type | Format | Example |
|---|---|---|
| US Stocks | SYMBOL | AAPL, MSFT |
| ETFs | SYMBOL | SPY, QQQ |
Parameters
| Parameter | Required | Description |
|---|---|---|
| Symbol | Yes | Stock ticker symbol |
| Year | Yes | Fiscal year (2020, 2021, etc.) or period code (lq, ly) |
| Quarter | No | Calendar quarter 1-4 (default: 1) |
| TTM | No | Enter "TTM" for trailing twelve months |
Syntax
=hf_Normalized_return_on_invested_capital(Symbol, Year, [Quarter], [TTM])Parameters
symbolstringRequired
Stock ticker symbol
yearstringRequired
Fiscal year or period code
quarterstring
Calendar quarter (1-4)
TTMstring
Use TTM for trailing twelve months
Returns
number
Normalized return on invested capital as a ratio
Examples
=hf_Normalized_return_on_invested_capital("AAPL", 2023, 4)=hf_Normalized_return_on_invested_capital("MSFT", 2022, , "TTM")=hf_Normalized_return_on_invested_capital("GOOGL", "ly")=hf_Normalized_return_on_invested_capital(A1, B1, C1)When to Use
- Analyzing capital efficiency trends over time
- Comparing normalized capital returns across companies
- Building historical investment models
- Excluding one-time items from capital return analysis
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need current ROIC | Return_On_Invested_Capital() |
| Need unadjusted historical ROIC | hf_Return_on_invested_capital() |
| Need return on equity | hf_Normalized_return_on_stock_equity() |
| Need return on assets | hf_Normalized_return_on_assets() |
Common Issues & FAQ
Why am I getting "NA"?
Check that the symbol is valid and the year/quarter combination exists.
What is invested capital?
Invested capital = Total Debt + Shareholders' Equity - Cash and Cash Equivalents.
Related Formulas
More MarketXLS Historical Fundamentals formulas you can use in the same worksheet:
- Notes Payable (Historical)
- Number Of Days Cost Of Goods Sold In Inventory (Historical)
- Number Of Employees (Historical)
- Number of Part-time Employees (Historical)
- Operating Expenses (Historical)
- Operating Gains Losses (Historical)
- Operating Income (Historical)
- Operating Income After Depreciation (Historical)
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