This ROIC Excel Template will aid you in calculating the NOPAT and Book Value of Invested Capital, and from these elements calculate the period ROIC.
Here is a snippet of the template:
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The ROIC Formula
Return on Invested Capital is calculated by taking into account the cost of the investment and the returns generated. Returns are all the earnings acquired after taxes but before interests are paid. The value of an investment is calculated by subtracting all current long-term liabilities, those due within the year, from the company’s assets. The cost of investment can either be the total amount of assets a company requires to run its business or the amount of financing from creditors or shareholders. The return is then divided by the cost of investment.