ROC 5Y

For similar reasons as for the Earnings Yield 5Y, this ratio smooths the ROICs of the last 5 years to smooth out business and economic cycle, as well as price fluctuations. It's calculated as follows:

$ROIC 5Y = ∑ ( Operating Income last 5 years ) ∑ ( Net Assets last 5 years ) + ∑ ( Net Working Capital last 5 years )$