Basis: Latest reported fiscal year. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the return on invested capital (ROIC) high or low?
The return on invested capital (ROIC) of 4.63% is in line with its 5-year average of 4.72%, near the low end of its 5-year range (4.60%–4.94%).
As of the fiscal period ended Wednesday, December 31, 2025. 1.28% below its 12-month average of 4.69%.
Annual fiscal-year return on invested capital; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
4.63%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
4.69%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
4.70%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
4.72%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
4.80%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
4.67%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
4.38%
CURRENT VS TTM AVG
-1.28%
CURRENT VS 3Y AVG
-1.44%
CURRENT VS 5Y AVG
-1.94%
CURRENT VS 10Y AVG
-3.58%
CURRENT VS 15Y AVG
-0.84%
CURRENT VS 20Y AVG
+5.68%
SECTOR MEDIAN · UTILITIES
4.06%
median of 43 covered companies
CURRENT VS SECTOR MEDIAN
+14.04%
vs the sector median at left
Black Hills Corporation
Market Cap
$5.46B
Return on Invested Capital (ROIC)
4.63%
TTM Avg
4.69%
3Y Avg
4.70%
5Y Avg
4.72%
Market Cap
$7.53B
Return on Invested Capital (ROIC)
-8.88%
TTM Avg
-13.96%
3Y Avg
-69.76%
5Y Avg
-65.37%
Market Cap
$3.24B
Return on Invested Capital (ROIC)
3.85%
TTM Avg
3.92%
3Y Avg
3.53%
5Y Avg
3.50%
Market Cap
$7.73B
Return on Invested Capital (ROIC)
7.61%
TTM Avg
6.02%
3Y Avg
2.94%
5Y Avg
4.93%
Market Cap
$2.83B
Return on Invested Capital (ROIC)
-4.70%
TTM Avg
-0.84%
3Y Avg
-16.00%
5Y Avg
-67.86%
Market Cap
$2.82B
Return on Invested Capital (ROIC)
-61.76%
TTM Avg
-46.13%
3Y Avg
-91.11%
5Y Avg
-314.25%
Market Cap
$8.31B
Return on Invested Capital (ROIC)
1.08%
TTM Avg
1.24%
3Y Avg
3.55%
5Y Avg
3.27%
Market Cap
$2.05B
Return on Invested Capital (ROIC)
5.17%
TTM Avg
4.01%
3Y Avg
3.53%
5Y Avg
3.43%
Market Cap
$1.11B
Return on Invested Capital (ROIC)
0.26%
TTM Avg
-0.90%
3Y Avg
-0.44%
5Y Avg
0.08%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Black Hills Corporation (BKH) | $5.46B | 4.63% | 4.69% | 4.70% | 4.72% |
| Oklo Inc. (OKLO)vs › | $7.53B | -8.88% | -13.96% | -69.76% | -65.37% |
| Avista Corporation (AVA)vs › | $3.24B | 3.85% | 3.92% | 3.53% | 3.50% |
| UGI Corporation (UGI)vs › | $7.73B | 7.61% | 6.02% | 2.94% | 4.93% |
| Fluence Energy, Inc. (FLNC)vs › | $2.83B | -4.70% | -0.84% | -16.00% | -67.86% |
| NuScale Power Corporation (SMR)vs › | $2.82B | -61.76% | -46.13% | -91.11% | -314.25% |
| Clearway Energy, Inc. (CWEN-A)vs › | $8.31B | 1.08% | 1.24% | 3.55% | 3.27% |
| Northwest Natural Holding Company (NWN)vs › | $2.05B | 5.17% | 4.01% | 3.53% | 3.43% |
| XPLR Infrastructure, LP (XIFR)vs › | $1.11B | 0.26% | -0.90% | -0.44% | 0.08% |
| Brookfield Renewable Partners L.P. (BEP)vs › | $10.07B | 1.03% | 0.55% | 1.20% | 0.71% |
ROIC
4.6%
ROE
7.3%
ROIC = NOPAT / Invested Capital
Return on invested capital measures the after-tax return a company earns on all capital (debt and equity) invested in the business.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2025-12-31 | 4.63% |
| 2024-12-31 | 4.75% |
| 2023-12-31 | 4.79% |
| 2022-12-31 | 4.62% |
| 2021-12-31 | 4.60% |
| 2020-12-31 | 4.94% |
| 2019-12-31 | 5.02% |
| 2018-12-31 | 6.10% |
| 2017-12-31 | 4.95% |
| 2016-12-31 | 3.94% |
| 2015-12-31 | 4.48% |
| 2014-12-31 | 4.40% |
| 2013-12-31 | 4.73% |
| 2012-12-31 | 5.28% |
| 2011-12-31 | 3.54% |
| 2010-12-31 | 4.24% |
| 2009-12-31 | 3.09% |
| 2008-12-31 | 1.30% |
| 2007-12-31 | 4.27% |
| 2006-12-31 | 3.83% |
| 2005-12-31 | 3.14% |
| 2004-12-31 | 5.06% |
| 2003-12-31 | 4.80% |
| 2002-12-31 | 5.57% |
| 2001-12-31 | 6.09% |
| 2000-12-31 | 7.61% |
| 1999-12-31 | 7.63% |
| 1998-12-31 | 7.34% |
| 1997-12-31 | 8.97% |
| 1996-12-31 | 8.50% |
