Research · refreshed nightly · July 28, 2026
The Highest-ROIC Companies in the World (July 2026)
The highest returns on invested capital.
Return on invested capital is the quality metric with the least room to argue, and the highest-ROIC companies in the world are not software. Lundin Gold posts a perfect 100% ROIC at an $18B cap; Daily Journal follows at 98%, tiny Exasol at 96%, and Innodata matches it while growing revenue 32% a year.
A gold miner leading a returns ranking invites the right question: is the number structural or cyclical? ROIC this high can reflect a moat, or simply a commodity price the company does not control. The median of 68% still marks an elite group; Booking Holdings at 83% with 20% growth is the classic compounder case. Click any name for the citation-backed answer.
50companies qualify
68.5%median ROIC
58median MGI
9joined this week
The ranking
Sorted by ROIC
1
Lundin Gold Inc.LUG.CA🇨🇦
ROIC 100% · revenue +22%/yr · asset light
G 40V 58O 42Cap $13.9B
MGI
40
MVI
58
MTI
60
MOI
42
Cap
$13.9B
Growth
+22%2
Games Workshop Group PLCGAW.GB🇬🇧
ROIC 99% · revenue +16%/yr · asset light
G 61V 55O 64Cap $8.7B
MGI
61
MVI
55
MTI
27
MOI
64
Cap
$8.7B
Growth
+18%3
Daily Journal CorporationDJCO🇺🇸
ROIC 98% · revenue +13%/yr · asset light
G 53V 56O 54Cap $732.6M
MGI
53
MVI
56
MTI
47
MOI
54
Cap
$732.6M
Growth
+25%4
Innodata Inc.INOD🇺🇸
ROIC 96% · revenue +32%/yr · scale economics
G 58V 69O 63Cap $1.9B
MGI
58
MVI
69
MTI
63
MOI
63
Cap
$1.9B
Growth
+54%5
TX
Text S.A.TXT.PL🇵🇱
ROIC 95% · revenue +17%/yr · asset light
G 40V 77O 45Cap $254.1M
MGI
40
MVI
77
MTI
58
MOI
45
Cap
$254.1M
Growth
+17%6
Making Science Group, S.A.MAKS.ES🇪🇸
ROIC 94% · revenue +28%/yr · scale economics
G 20V 68O 21Cap $75.5M
MGI
20
MVI
68
MTI
63
MOI
21
Cap
$75.5M
Growth
+28%7
Powell Industries, Inc.POWL🇺🇸
ROIC 91% · revenue +19%/yr · scale economics
G 59V 57O 61Cap $7.3B
MGI
59
MVI
57
MTI
50
MOI
61
Cap
$7.3B
Growth
+7%8
Allied Gold CorporationAAUC🇨🇦
ROIC 88% · revenue +28%/yr · scale economics
G 28V 58O 29Cap $2.6B
MGI
28
MVI
58
MTI
71
MOI
29
Cap
$2.6B
Growth
+131%9
D-BOX Technologies Inc.DBO.CA🇨🇦
ROIC 85% · revenue +27%/yr · asset light
G 62V 63O 66Cap $195.2M
MGI
62
MVI
63
MTI
45
MOI
66
Cap
$195.2M
Growth
+70%10
Booking Holdings Inc.BKNG🇺🇸
ROIC 83% · revenue +20%/yr · asset light
G 60V 63O 68Cap $138.1B
MGI
60
MVI
63
MTI
48
MOI
68
Cap
$138.1B
Growth
+16%11
Planisware SAPLNW.FR🇫🇷
ROIC 82% · revenue +17%/yr · asset light
G 60V 62O 64Cap $1.8B
MGI
60
MVI
62
MTI
46
MOI
64
Cap
$1.8B
Growth
+8%12
PA
Passus S.A.PAS.PL🇵🇱
ROIC 81% · revenue +28%/yr · asset light
G 61V 84O 71Cap $54.5M
MGI
61
MVI
84
MTI
44
MOI
71
Cap
$54.5M
Growth
+28%13
Atour Lifestyle Holdings LtdATAT🇨🇳
ROIC 81% · revenue +38%/yr · scale economics
G 72V 66O 80Cap $4.6B
MGI
72
MVI
66
MTI
42
MOI
80
Cap
$4.6B
Growth
+48%14
Astera Labs, Inc.ALAB🇺🇸
ROIC 79% · revenue +105%/yr · asset light
G 73V 43O 70Cap $48.4B
MGI
73
MVI
43
MTI
55
MOI
70
Cap
$48.4B
Growth
+93%15
Catalyst Pharmaceuticals, Inc.CPRX🇺🇸
ROIC 79% · revenue +33%/yr · asset light
G 23V 52O 23Cap $3.4B
MGI
23
MVI
52
MTI
46
MOI
23
Cap
$3.4B
Growth
+33%16
Credo Technology Group Holding LtdCRDO🇺🇸
ROIC 77% · revenue +80%/yr · asset light
G 75V 54O 76Cap $36.5B
MGI
75
MVI
54
MTI
57
MOI
76
Cap
$36.5B
Growth
+80%17
AT
Atrem S.A.ATR.PL🇵🇱
ROIC 77% · revenue +24%/yr · scale economics
G 57V 66O 61Cap $116.4M
MGI
57
MVI
66
MTI
45
MOI
61
Cap
$116.4M
Growth
+24%18
Alnylam Pharmaceuticals, Inc.ALNY🇺🇸
ROIC 77% · revenue +38%/yr · asset light
G 76V 58O 80Cap $40.7B
MGI
76
MVI
58
MTI
42
MOI
80
Cap
$40.7B
Growth
+96%19
GDEV Inc.GDEV🇨🇾
ROIC 76% · revenue +9%/yr · asset light
G 44V 70O 48Cap $245M
MGI
44
MVI
70
MTI
60
MOI
48
Cap
$245M
Growth
-4%20
Dar Global PLCDAR.AE🇦🇪
ROIC 73% · revenue +89%/yr · scale economics
G 64V 65O 69Cap $1.4B
MGI
64
MVI
65
MTI
52
MOI
69
Cap
$1.4B
Growth
+124%21
Dave Inc.DAVE🇺🇸
ROIC 73% · revenue +32%/yr · asset light
G 61V 63O 65Cap $5.2B
MGI
61
MVI
63
MTI
62
MOI
65
Cap
$5.2B
Growth
+47%22
The Vita Coco Company, Inc.COCO🇺🇸
ROIC 73% · revenue +13%/yr · scale economics
G 63V 55O 65Cap $3.8B
MGI
63
MVI
55
MTI
44
MOI
65
Cap
$3.8B
Growth
+37%23
Toast, Inc.TOST🇺🇸
ROIC 72% · revenue +30%/yr · scale economics
G 68V 63O 74Cap $16.6B
MGI
68
MVI
63
MTI
45
MOI
74
Cap
$16.6B
Growth
+30%24
Tatton Asset Management plcTAM.GB🇬🇧
ROIC 70% · revenue +14%/yr · scale economics
G 69V 65O 74Cap $529.7M
MGI
69
MVI
65
MTI
37
MOI
74
Cap
$529.7M
Growth
+20%25
Campine NVCAMB.BE🇧🇪
ROIC 69% · revenue +36%/yr · scale economics
G 42V 50O 42Cap $357.9M
MGI
42
MVI
50
MTI
65
MOI
42
Cap
$357.9M
Growth
+110%26
Doximity, Inc.DOCS🇺🇸
ROIC 68% · revenue +15%/yr · asset light
G 60V 63O 65Cap $4.0B
MGI
60
MVI
63
MTI
40
MOI
65
Cap
$4.0B
Growth
+5%27
Sezzle Inc.SEZL🇺🇸
ROIC 68% · revenue +33%/yr · asset light
G 62V 54O 63Cap $5.3B
MGI
62
MVI
54
MTI
54
MOI
63
Cap
$5.3B
Growth
+33%28
Incyte CorporationINCY🇺🇸
ROIC 68% · revenue +12%/yr · asset light
G 54V 59O 57Cap $21.3B
MGI
54
MVI
59
MTI
60
MOI
57
Cap
$21.3B
Growth
+21%29
Protalix BioTherapeutics, Inc.PLX🇮🇱
ROIC 68% · revenue +15%/yr · asset light
G 45V 65O 48Cap $183.3M
MGI
45
MVI
65
MTI
57
MOI
48
Cap
$183.3M
Growth
+234%30
Micron Technology, Inc.MU🇺🇸
ROIC 66% · revenue +25%/yr · asset light
G 34V 57O 36Cap $1.03T
MGI
34
MVI
57
MTI
52
MOI
36
Cap
$1.03T
Growth
+346%31
Intercede Group plcIGP.GB🇬🇧
ROIC 64% · revenue +10%/yr · asset light
G 56V 58O 58Cap $87.5M
MGI
56
MVI
58
MTI
47
MOI
58
Cap
$87.5M
Growth
-11%32
Moury Construct S.A.MOUR.BE🇧🇪
ROIC 64% · revenue +14%/yr · scale economics
G 55V 63O 59Cap $318.7M
MGI
55
MVI
63
MTI
38
MOI
59
Cap
$318.7M
Growth
+34%33
BQE Water Inc.BQE.CA🇨🇦
ROIC 63% · revenue +34%/yr · scale economics
G 64V 72O 70Cap $65.8M
MGI
64
MVI
72
MTI
38
MOI
70
Cap
$65.8M
Growth
-35%34
R&S Group Holding AGRSGN.CH🇨🇭
ROIC 62% · revenue +38%/yr · scale economics
G 56V 64O 60Cap $819.2M
MGI
56
MVI
64
MTI
43
MOI
60
Cap
$819.2M
Growth
+47%35
KLA CorporationKLAC🇺🇸
ROIC 60% · revenue +10%/yr · asset light
G 66V 45O 63Cap $229.5B
MGI
66
MVI
45
MTI
43
MOI
63
Cap
$229.5B
Growth
+12%36
Duolingo, Inc.DUOL🇺🇸
ROIC 59% · revenue +34%/yr · asset light
G 68V 65O 73Cap $5.4B
MGI
68
MVI
65
MTI
45
MOI
73
Cap
$5.4B
Growth
+27%37
Indivior Pharmaceuticals, Inc.INDV🇺🇸
ROIC 59% · revenue +10%/yr · asset light
G 42V 57O 46Cap $4.7B
MGI
42
MVI
57
MTI
60
MOI
46
Cap
$4.7B
Growth
+19%38
SN
Synektik S.A.SNT.PL🇵🇱
ROIC 59% · revenue +35%/yr · asset light
G 73V 64O 78Cap $657.1M
MGI
73
MVI
64
MTI
46
MOI
78
Cap
$657.1M
Growth
+35%39
Blue Bird Corp.BLBD🇺🇸
ROIC 59% · revenue +17%/yr · scale economics
G 51V 61O 56Cap $2.1B
MGI
51
MVI
61
MTI
44
MOI
56
Cap
$2.1B
Growth
-2%40
Verrica Pharmaceuticals Inc.VRCA🇺🇸
ROIC 58% · revenue +25%/yr · asset light
G 33V 52O 33Cap $91.4M
MGI
33
MVI
52
MTI
62
MOI
33
Cap
$91.4M
Growth
+46%41
Comfort Systems USA, Inc.FIX🇺🇸
ROIC 57% · revenue +30%/yr · scale economics
G 68V 56O 72Cap $65.3B
MGI
68
MVI
56
MTI
46
MOI
72
Cap
$65.3B
Growth
+57%42
Sectra ABSECT.B.SE🇸🇪
ROIC 57% · revenue +15%/yr · asset light
G 71V 52O 72Cap $4.9B
MGI
71
MVI
52
MTI
28
MOI
72
Cap
$4.9B
Growth
+13%43
Grindr Inc.GRND🇺🇸
ROIC 57% · revenue +27%/yr · asset light
G 54V 67O 60Cap $2.4B
MGI
54
MVI
67
MTI
52
MOI
60
Cap
$2.4B
Growth
+38%44
UP Fintech Holding LimitedTIGR🇸🇬
ROIC 57% · revenue +18%/yr · asset light
G 57V 71O 62Cap $1.0B
MGI
57
MVI
71
MTI
63
MOI
62
Cap
$1.0B
Growth
+26%45
Zinzino ABZZ.B.SE🇸🇪
ROIC 56% · revenue +21%/yr · scale economics
G 58V 68O 63Cap $562.6M
MGI
58
MVI
68
MTI
54
MOI
63
Cap
$562.6M
Growth
+27%46
NG Energy International Corp.GASX.CA🇨🇦
ROIC 56% · revenue +52%/yr · scale economics
G 38V 62O 40Cap $263.9M
MGI
38
MVI
62
MTI
57
MOI
40
Cap
$263.9M
Growth
+48%47
Trophy Games Development A/STGAMES.DK🇩🇰
ROIC 56% · revenue +33%/yr · scale economics
G 58V 73O 64Cap $56.7M
MGI
58
MVI
73
MTI
46
MOI
64
Cap
$56.7M
Growth
+41%48
EUWAX AktiengesellschaftEUX.DE🇩🇪
ROIC 55% · revenue +335%/yr · asset light
G 31V 50O 31Cap $283.2M
MGI
31
MVI
50
MTI
60
MOI
31
Cap
$283.2M
Growth
+2%
Changed this week
Week over week, from the nightly refresh.
Entered
Wesdome Gold Mines Ltd. (WDO.CA) · joined at #50 · ROIC 53% · revenue +31%/yr · asset light
EnteredThe Vita Coco Company, Inc. (COCO) · joined at #22 · ROIC 73% · revenue +13%/yr · scale economics
EnteredComfort Systems USA, Inc. (FIX) · joined at #41 · ROIC 57% · revenue +30%/yr · scale economics
EnteredEUWAX Aktiengesellschaft (EUX.DE) · joined at #48 · ROIC 55% · revenue +335%/yr · asset light
EnteredSynektik S.A. (SNT.PL) · joined at #38 · ROIC 59% · revenue +35%/yr · asset light
+4 more
GRND, GASX.CA, MAKS.ES, TGAMES.DK also joined
Left
EXL.DE, CAMX.SE, ARGX, PDD, TSM, ANTIN.FR, WDO.CA, SRB.GB, FIX
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Research tool, not investment advice. Rankings are generated by our models from company filings and market data, refresh nightly, and are identical for every visitor. Scores reflect our methodology and are not recommendations to act. Data as of 2026-07-28.