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 |
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
Q: Why am I getting "NA"? A: Check that the symbol is valid and the year/quarter combination exists.
Q: What is invested capital? A: Invested capital = Total Debt + Shareholders' Equity - Cash and Cash Equivalents.
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