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 10.46% is 29% below its 5-year average of 14.65%, around the middle of its 5-year range (0.00%–29.47%).
As of the fiscal period ended Wednesday, December 31, 2025. 6.77% below its 12-month average of 11.22%.
Annual fiscal-year return on invested capital; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
10.46%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
11.22%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
17.56%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
14.65%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
2.82%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
5.20%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
5.13%
CURRENT VS TTM AVG
-6.77%
CURRENT VS 3Y AVG
-40.45%
CURRENT VS 5Y AVG
-28.62%
CURRENT VS 10Y AVG
+270.68%
CURRENT VS 15Y AVG
+101.10%
CURRENT VS 20Y AVG
+103.75%
SECTOR MEDIAN · ENERGY
7.14%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+46.40%
vs the sector median at left
Devon Energy Corporation
Market Cap
$31.01B
Return on Invested Capital (ROIC)
10.46%
TTM Avg
11.22%
3Y Avg
17.56%
5Y Avg
14.65%
Market Cap
$32.99B
Return on Invested Capital (ROIC)
8.20%
TTM Avg
5.85%
3Y Avg
12.44%
5Y Avg
9.95%
Market Cap
$28.30B
Return on Invested Capital (ROIC)
10.12%
TTM Avg
10.43%
3Y Avg
14.13%
5Y Avg
9.32%
Market Cap
$33.75B
Return on Invested Capital (ROIC)
6.18%
TTM Avg
3.92%
3Y Avg
6.66%
5Y Avg
2.88%
Market Cap
$27.49B
Return on Invested Capital (ROIC)
8.38%
TTM Avg
11.54%
3Y Avg
12.77%
5Y Avg
8.00%
Market Cap
$24.02B
Return on Invested Capital (ROIC)
30.12%
TTM Avg
32.86%
3Y Avg
38.58%
5Y Avg
37.62%
Market Cap
$21.96B
Return on Invested Capital (ROIC)
6.38%
TTM Avg
1.84%
3Y Avg
12.91%
5Y Avg
-13.44%
Market Cap
$42.72B
Return on Invested Capital (ROIC)
4.77%
TTM Avg
4.28%
3Y Avg
2.75%
5Y Avg
1.34%
Market Cap
$14.07B
Return on Invested Capital (ROIC)
9.96%
TTM Avg
12.00%
3Y Avg
21.17%
5Y Avg
17.07%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Devon Energy Corporation (DVN) | $31.01B | 10.46% | 11.22% | 17.56% | 14.65% |
| Venture Global, Inc. (VG)vs › | $32.99B | 8.20% | 5.85% | 12.44% | 9.95% |
| Tenaris S.A. (TS)vs › | $28.30B | 10.12% | 10.43% | 14.13% | 9.32% |
| EQT Corporation (EQT)vs › | $33.75B | 6.18% | 3.92% | 6.66% | 2.88% |
| Halliburton Company (HAL)vs › | $27.49B | 8.38% | 11.54% | 12.77% | 8.00% |
| Texas Pacific Land Corporation (TPL)vs › | $24.02B | 30.12% | 32.86% | 38.58% | 37.62% |
| Expand Energy Corporation (EXE)vs › | $21.96B | 6.38% | 1.84% | 12.91% | -13.44% |
| Cameco Corporation (CCJ)vs › | $42.72B | 4.77% | 4.28% | 2.75% | 1.34% |
| APA Corporation (APA)vs › | $14.07B | 9.96% | 12.00% | 21.17% | 17.07% |
| Antero Midstream Corporation (AM)vs › | $10.51B | 8.18% | 8.25% | 7.88% | 6.27% |
ROIC
10.5%
ROE
7.9%
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 | 10.46% |
| 2024-12-31 | 11.98% |
| 2023-12-31 | 18.35% |
| 2022-12-31 | 29.47% |
| 2021-12-31 | 17.66% |
| 2020-12-31 | 0.00% |
| 2019-12-31 | 0.98% |
| 2018-12-31 | 6.45% |
| 2017-12-31 | 0.46% |
| 2016-12-31 | -12.43% |
| 2015-12-31 | -52.34% |
| 2014-12-31 | 4.24% |
| 2013-12-31 | -0.19% |
| 2012-12-31 | 0.11% |
| 2011-12-31 | 6.03% |
| 2010-12-31 | 8.72% |
| 2009-12-31 | 5.00% |
| 2008-12-31 | -9.49% |
| 2007-12-31 | 8.68% |
| 2006-12-31 | 9.17% |
| 2005-12-31 | 11.36% |
| 2004-12-31 | 8.90% |
| 2003-12-31 | 8.46% |
| 2002-12-31 | -1.06% |
| 2001-12-31 | 1.20% |
| 2000-12-31 | 11.78% |
| 1999-12-31 | -1.41% |
| 1998-12-31 | -17.56% |
| 1997-12-31 | 10.14% |
| 1996-12-31 | 8.01% |
