Apple’s ROIC was 35.0 percent, which was more
than 21 percentage points higher than BlackBerry’s
(14.1 percent). This means that for every $1.00
invested into Apple, the company returned almost
$1.35, while for every $1.00 invested in the company,
BlackBerry returned $1.14. Since Apple was
2.5 times more efficient than BlackBerrry at generating
a return on invested capital, Apple had a clear
competitive advantage over BlackBerry. 2