Basis: Trailing twelve months (TTM), to the latest fiscal quarter end. 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 3.41% is in line with its 5-year average of 3.63%, near the low end of its 5-year range (3.07%–4.28%).
As of the fiscal period ended Tuesday, June 30, 2026. 6.41% below its 12-month average of 3.64%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 3.41%.
RETURN ON INVESTED CAPITAL (ROIC)
3.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
3.64%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
3.53%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
3.63%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
3.80%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
3.94%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.89%
CURRENT VS TTM AVG
-6.41%
CURRENT VS 3Y AVG
-3.41%
CURRENT VS 5Y AVG
-6.00%
CURRENT VS 10Y AVG
-10.23%
CURRENT VS 15Y AVG
-13.51%
CURRENT VS 20Y AVG
-12.31%
SECTOR MEDIAN · UTILITIES
4.09%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
-16.69%
vs the sector median at left
CMS Energy Corporation
Market Cap
$21.06B
Return on Invested Capital (ROIC)
3.41%
TTM Avg
3.64%
3Y Avg
3.53%
5Y Avg
3.63%
Market Cap
$21.55B
Return on Invested Capital (ROIC)
3.91%
TTM Avg
4.93%
3Y Avg
3.77%
5Y Avg
3.19%
Market Cap
$19.86B
Return on Invested Capital (ROIC)
4.54%
TTM Avg
4.33%
3Y Avg
4.19%
5Y Avg
3.88%
Market Cap
$18.81B
Return on Invested Capital (ROIC)
4.51%
TTM Avg
4.38%
3Y Avg
4.33%
5Y Avg
4.25%
Market Cap
$23.94B
Return on Invested Capital (ROIC)
5.38%
TTM Avg
9.31%
3Y Avg
7.50%
5Y Avg
8.74%
Market Cap
$17.37B
Return on Invested Capital (ROIC)
4.04%
TTM Avg
4.10%
3Y Avg
4.40%
5Y Avg
4.42%
Market Cap
$25.65B
Return on Invested Capital (ROIC)
4.24%
TTM Avg
3.82%
3Y Avg
3.55%
5Y Avg
3.29%
Market Cap
$25.76B
Return on Invested Capital (ROIC)
4.14%
TTM Avg
4.05%
3Y Avg
3.86%
5Y Avg
3.63%
Market Cap
$25.77B
Return on Invested Capital (ROIC)
4.87%
TTM Avg
3.93%
3Y Avg
3.96%
5Y Avg
3.80%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| CMS Energy Corporation (CMS) | $21.06B | 3.41% | 3.64% | 3.53% | 3.63% |
| Edison International (EIX)vs › | $21.55B | 3.91% | 4.93% | 3.77% | 3.19% |
| NiSource Inc (NI)vs › | $19.86B | 4.54% | 4.33% | 4.19% | 3.88% |
| Evergy, Inc. (EVRG)vs › | $18.81B | 4.51% | 4.38% | 4.33% | 4.25% |
| NRG Energy, Inc. (NRG)vs › | $23.94B | 5.38% | 9.31% | 7.50% | 8.74% |
| Alliant Energy Corporation (LNT)vs › | $17.37B | 4.04% | 4.10% | 4.40% | 4.42% |
| PPL Corporation (PPL)vs › | $25.65B | 4.24% | 3.82% | 3.55% | 3.29% |
| CenterPoint Energy, Inc. (CNP)vs › | $25.76B | 4.14% | 4.05% | 3.86% | 3.63% |
| Eversource Energy (ES)vs › | $25.77B | 4.87% | 3.93% | 3.96% | 3.80% |
| FirstEnergy Corp. (FE)vs › | $26.69B | 4.43% | 4.06% | 3.67% | 3.75% |
ROIC
3.4%
ROE
10.5%
ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)
Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2026-06-30 | 3.41% |
| 2026-03-31 | 3.56% |
| 2025-12-31 | 3.67% |
| 2025-09-30 | 3.83% |
| 2025-06-30 | 3.74% |
| 2025-03-31 | 3.85% |
| 2024-12-31 | 3.73% |
| 2024-09-30 | 3.68% |
| 2024-06-30 | 3.50% |
| 2024-03-31 | 3.43% |
| 2023-12-31 | 3.30% |
| 2023-09-30 | 3.10% |
| 2023-06-30 | 3.07% |
| 2023-03-31 | 3.22% |
| 2022-12-31 | 3.72% |
| 2022-09-30 | 3.64% |
| 2022-06-30 | 3.81% |
| 2022-03-31 | 3.83% |
| 2021-12-31 | 3.76% |
| 2021-09-30 | 4.00% |
| 2021-06-30 | 4.28% |
| 2021-03-31 | 4.11% |
| 2020-12-31 | 4.11% |
| 2020-09-30 | 3.84% |
| 2020-06-30 | 4.00% |
| 2020-03-31 | 4.04% |
| 2019-12-31 | 4.02% |
| 2019-09-30 | 3.93% |
| 2019-06-30 | 3.89% |
| 2019-03-31 | 4.11% |
| 2018-12-31 | 4.31% |
| 2018-09-30 | 3.58% |
| 2018-06-30 | 3.71% |
| 2018-03-31 | 3.51% |
| 2017-12-31 | 3.42% |
| 2017-09-30 | 4.08% |
| 2017-06-30 | 4.16% |
| 2017-03-31 | 4.32% |
| 2016-12-31 | 4.19% |
| 2016-09-30 | 4.12% |
| 2016-06-30 | 4.05% |
| 2016-03-31 | 3.84% |
| 2015-12-31 | 4.04% |
| 2015-09-30 | 4.26% |
| 2015-06-30 | 4.05% |
| 2015-03-31 | 4.16% |
| 2014-12-31 | 4.25% |
| 2014-09-30 | 4.29% |
| 2014-06-30 | 4.67% |
| 2014-03-31 | 4.53% |
| 2013-12-31 | 4.24% |
| 2013-09-30 | 4.06% |
| 2013-06-30 | 4.12% |
| 2013-03-31 | 4.23% |
| 2012-12-31 | 3.80% |
| 2012-09-30 | 3.76% |
| 2012-05-30 | 3.85% |
| 2012-03-31 | 4.04% |
| 2011-12-31 | 4.53% |
| 2011-09-30 | 4.55% |
| 2011-06-30 | 4.56% |
| 2011-03-31 | 4.51% |
| 2010-12-31 | 4.23% |
| 2010-09-30 | 4.19% |
| 2010-06-30 | 3.89% |
| 2010-03-31 | 3.33% |
| 2009-12-31 | 3.28% |
| 2009-09-30 | 3.62% |
| 2009-06-30 | 3.54% |
| 2009-03-31 | 3.66% |
| 2008-12-31 | 3.99% |
| 2008-09-30 | 3.00% |
| 2008-06-30 | 2.97% |
| 2008-03-31 | 1.71% |
| 2007-12-31 | -0.64% |
| 2007-09-30 | 0.03% |
| 2007-06-30 | -1.79% |
| 2007-03-31 | -1.30% |
| 2006-12-31 | -1.10% |
| 2006-09-30 | -0.36% |
| 2006-06-30 | -5.98% |
| 2006-03-31 | -5.89% |
| 2005-12-31 | -2.79% |
| 2005-09-30 | -0.95% |
| 2005-06-30 | 4.71% |
| 2005-03-31 | 4.69% |
| 2004-12-31 | 4.05% |
| 2004-09-30 | 2.62% |
| 2004-06-30 | 2.02% |
| 2004-03-31 | 2.16% |
| 2003-12-31 | 2.88% |
| 2003-09-30 | -2.36% |
| 2003-06-30 | -1.42% |
