Return on capital employed (ROCE) can be a useful measure of divisional performance.

Companies in which there is extensive investment in intellectual property and intangible assets, such as brands and trade marks.

Companies in which there is extensive investment in physical assets, such as plant and machinery, with divisions which undertake broadly similar activities.

Companies which have been created by extensive acquisition and merger activity and include divisions engaged in a variety of activities.

Companies in the not-for-profit sector.