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 34.01% is 31% below its 5-year average of 49.42%, near the low end of its 5-year range (22.33%–86.54%).
As of the fiscal period ended Tuesday, June 30, 2026. 26.29% above its 12-month average of 26.93%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 34.01%.
RETURN ON INVESTED CAPITAL (ROIC)
34.01%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
26.93%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
41.92%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
49.42%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
44.67%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
37.75%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
34.10%
CURRENT VS TTM AVG
+26.29%
CURRENT VS 3Y AVG
-18.86%
CURRENT VS 5Y AVG
-31.17%
CURRENT VS 10Y AVG
-23.86%
CURRENT VS 15Y AVG
-9.90%
CURRENT VS 20Y AVG
-0.26%
SECTOR MEDIAN · ENERGY
8.92%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
+281.33%
vs the sector median at left
Dorchester Minerals, L.P.
Market Cap
$1.40B
Return on Invested Capital (ROIC)
34.01%
TTM Avg
26.93%
3Y Avg
41.92%
5Y Avg
49.42%
Market Cap
$1.44B
Return on Invested Capital (ROIC)
16.32%
TTM Avg
22.74%
3Y Avg
28.03%
5Y Avg
20.53%
Market Cap
$1.99B
Return on Invested Capital (ROIC)
-9.31%
TTM Avg
-54.47%
3Y Avg
-26.41%
5Y Avg
-15.28%
Market Cap
$619.92M
Return on Invested Capital (ROIC)
3.49%
TTM Avg
-7.74%
3Y Avg
-1.25%
5Y Avg
1.96%
Market Cap
$421.26M
Return on Invested Capital (ROIC)
11.26%
TTM Avg
9.38%
3Y Avg
8.82%
5Y Avg
10.88%
Market Cap
$240.84M
Return on Invested Capital (ROIC)
-20.99%
TTM Avg
-20.25%
3Y Avg
-16.25%
5Y Avg
-13.67%
Market Cap
$2.79B
Return on Invested Capital (ROIC)
0.35%
TTM Avg
4.10%
3Y Avg
10.06%
5Y Avg
19.58%
Market Cap
$3.85B
Return on Invested Capital (ROIC)
4.41%
TTM Avg
4.99%
3Y Avg
5.20%
5Y Avg
-0.31%
Market Cap
$4.28B
Return on Invested Capital (ROIC)
3.82%
TTM Avg
3.62%
3Y Avg
9.03%
5Y Avg
11.22%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Dorchester Minerals, L.P. (DMLP) | $1.40B | 34.01% | 26.93% | 41.92% | 49.42% |
| Natural Resource Partners L.P. (NRP)vs › | $1.44B | 16.32% | 22.74% | 28.03% | 20.53% |
| SolarEdge Technologies, Inc. (SEDG)vs › | $1.99B | -9.31% | -54.47% | -26.41% | -15.28% |
| Array Technologies, Inc. (ARRY)vs › | $619.92M | 3.49% | -7.74% | -1.25% | 1.96% |
| Star Group, L.P. (SGU)vs › | $421.26M | 11.26% | 9.38% | 8.82% | 10.88% |
| enCore Energy Corp. (EU)vs › | $240.84M | -20.99% | -20.25% | -16.25% | -13.67% |
| Centrus Energy Corp. (LEU)vs › | $2.79B | 0.35% | 4.10% | 10.06% | 19.58% |
| Helmerich & Payne, Inc. (HP)vs › | $3.85B | 4.41% | 4.99% | 5.20% | -0.31% |
| Enphase Energy, Inc. (ENPH)vs › | $4.28B | 3.82% | 3.62% | 9.03% | 11.22% |
| Oceaneering International, Inc. (OII)vs › | $4.60B | 15.18% | 13.23% | 9.46% | 2.19% |
ROIC
34.0%
ROE
28.9%
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 | 34.01% |
| 2026-03-31 | 28.86% |
| 2025-12-31 | 24.29% |
| 2025-09-30 | 22.33% |
| 2025-06-30 | 25.16% |
| 2025-03-31 | 26.73% |
| 2024-12-31 | 25.50% |
| 2024-09-30 | 28.94% |
| 2024-06-30 | 62.91% |
| 2024-03-31 | 57.70% |
| 2023-12-31 | 64.72% |
| 2023-09-30 | 60.93% |
| 2023-06-30 | 82.88% |
| 2023-03-31 | 86.54% |
| 2022-12-31 | 80.66% |
| 2022-09-30 | 70.98% |
| 2022-06-30 | 66.17% |
| 2022-03-31 | 53.76% |
| 2021-12-31 | 48.48% |
| 2021-09-30 | 48.79% |
| 2021-06-30 | 37.40% |
| 2021-03-31 | 27.74% |
| 2020-12-31 | 25.29% |
| 2020-09-30 | 30.28% |
| 2020-06-30 | 37.26% |
| 2020-03-31 | 43.13% |
| 2019-12-31 | 45.95% |
| 2019-09-30 | 48.04% |
| 2019-06-30 | 43.03% |
| 2019-03-31 | 43.91% |
| 2018-12-31 | 61.65% |
| 2018-09-30 | 61.00% |
| 2018-06-30 | 53.11% |
| 2018-03-31 | 45.70% |
| 2017-12-31 | 42.03% |
| 2017-09-30 | 35.91% |
| 2017-06-30 | 34.00% |
| 2017-03-31 | 41.30% |
| 2016-12-31 | 31.32% |
| 2016-09-30 | 24.71% |
| 2016-06-30 | 18.47% |
| 2016-03-31 | 15.68% |
| 2015-12-31 | 18.10% |
| 2015-09-30 | 13.79% |
| 2015-06-30 | 19.07% |
| 2015-03-31 | 23.44% |
| 2014-12-31 | 25.37% |
| 2014-09-30 | 47.98% |
| 2014-06-30 | 45.66% |
| 2014-03-31 | 43.72% |
| 2013-12-31 | 38.81% |
| 2013-09-30 | 21.46% |
| 2013-06-30 | 19.88% |
| 2013-03-31 | 18.01% |
| 2012-12-31 | 16.95% |
| 2012-09-30 | 17.04% |
| 2012-06-30 | 17.63% |
| 2012-03-31 | 16.97% |
| 2011-12-31 | 16.31% |
| 2011-09-30 | 18.79% |
| 2011-06-30 | 16.56% |
| 2011-03-31 | 14.33% |
| 2010-12-31 | 13.88% |
| 2010-09-30 | 21.78% |
| 2010-06-30 | 18.15% |
| 2010-03-31 | 15.47% |
| 2009-12-31 | 13.77% |
| 2009-09-30 | 14.61% |
| 2009-06-30 | 23.25% |
| 2009-03-31 | 43.34% |
| 2008-12-31 | 47.88% |
| 2008-09-30 | 44.10% |
| 2008-06-30 | 37.25% |
| 2008-03-31 | 31.56% |
| 2007-12-31 | 27.55% |
| 2007-09-30 | 25.30% |
| 2007-06-30 | 25.20% |
| 2007-03-31 | 27.84% |
| 2006-12-31 | 29.35% |
| 2006-09-30 | 18.32% |
| 2006-06-30 | 18.96% |
| 2006-03-31 | 16.65% |
| 2005-12-31 | 14.40% |
| 2005-09-30 | 21.36% |
| 2005-06-30 | 17.20% |
| 2005-03-31 | 15.39% |
| 2004-12-31 | 14.52% |
| 2004-09-30 | 12.56% |
| 2004-06-30 | 0.95% |
| 2004-03-31 | -12.50% |
| 2003-12-31 | -13.67% |
| 2003-09-30 | -13.77% |
