What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Grove Collaborative Holdings GROV Return on invested capital

Return on invested capital at other companies

Walmart WMT

15.3%-1.2pp

AmazonAMZN

14%-3.8pp

The Honest CompanyHNST

-19.9%-22.4pp

B&G FoodsBGS

2.1%+1.2pp

National BeverageFIZZ

56%-3.0pp

Dollar GeneralDG

7.4%+1.7pp

Other financials

Income statement

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Revenue$36.2M-16.8%

Gross profit$19.9M-13.9%

Operating income-$901.0K+74.3%

Net income-$1.0M+71.6%

EPS (diluted)-$0.03+70.0%

Balance sheet

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Cash & equivalents$10.4M-22.8%

Total debt$19.8M-9.2%

Total equity-$17.4M-49.4%

Total assets$51.1M-14.7%

Cash flow

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Operating cash flow-$683.0K+90.1%

CapEx$294.0K-45.7%

Free cash flow-$977.0K+86.8%

Valuation

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Market cap$52.54M+13.5%

Enterprise value$61.88M+14.6%

P/S0.3×+0.1×

Profitability

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Gross margin54.1%+1.0pp

Operating margin-5.2%-2.0pp

Net margin-5.5%-2.1pp

FCF margin-1.3%—

Returns & leverage

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Return on equity-311%+140pp

Debt / equity30.9×+24.5×

Current ratio1.3×-0.2×

Where this comes from

Calculated from Grove Collaborative Holdings’s reported figures.

nopat/invested capital=-179.2%

Based on trailing twelve months.

The official record: Grove Collaborative Holdings’s 10-Q, filed August 7, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Grove Collaborative Holdings's return on invested capital?: Grove Collaborative Holdings (GROV) reported return on invested capital of -179.2% in Q2 2024.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.