Return on capital (ROC) is a ratio used in finance, valuation, and accounting. The ratio is estimated by dividing the after-tax operating income (NOPAT) by the book value of invested capital.
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“The human heart dares not stay away too long from that which hurt it most. There is a return journey to anguish that few of us are released from making.”
—Lillian Smith (1897–1966)
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