The roic reflects the yield accruing from the capital invested. The basis for calculating the roic is the operating profit divided by the capital invested. Whereas the numerator, namely the operating profit, can be taken directly from the income statement, the denominator, namely the capital invested, is made up of property, plant and equipment, as well as intangible assets and working capital, less the sum total of tax provisions, other earnings reserves and other liabilities. In this case, working capital comprises the sum total of cash and cash equivalents, trade accounts receivable and inventories, less total trade accounts payable and liabilities to other group companies.
