Return on invested capital should more so be judged against the company's weighted average cost of capital. When the ROIC is higher than the WACC, the company is said to be generating value and when the ROIC is lower than the WACC, it is said to be destroying value.
Although Boyd's WACC is currently higher than its ROIC, I do expect this to trend downwards as we move forward. The cost of equity and the cost of debt should theoretically lower.
ROIC doesn't really tell you anything as a number by itself. A company could have a 20% ROIC but if their WACC is 22% (highly unlikely to ever be this high, but just using it as an example) it is still losing money on invested capital.