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 5.61% is 66% below its 5-year average of 16.59%, near the low end of its 5-year range (2.20%–31.76%).
As of the fiscal period ended Tuesday, June 30, 2026. 40.15% below its 12-month average of 9.37%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 5.61%.
RETURN ON INVESTED CAPITAL (ROIC)
5.61%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
9.37%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
13.79%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
16.59%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
10.22%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
6.74%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
6.53%
CURRENT VS TTM AVG
-40.15%
CURRENT VS 3Y AVG
-59.35%
CURRENT VS 5Y AVG
-66.20%
CURRENT VS 10Y AVG
-45.13%
CURRENT VS 15Y AVG
-16.77%
CURRENT VS 20Y AVG
-14.10%
SECTOR MEDIAN · ENERGY
8.92%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
-37.13%
vs the sector median at left
Devon Energy Corporation
Market Cap
$51.76B
Return on Invested Capital (ROIC)
5.61%
TTM Avg
9.37%
3Y Avg
13.79%
5Y Avg
16.59%
Market Cap
$52.51B
Return on Invested Capital (ROIC)
5.88%
TTM Avg
5.89%
3Y Avg
11.56%
5Y Avg
4.63%
Market Cap
$55.85B
Return on Invested Capital (ROIC)
8.77%
TTM Avg
7.46%
3Y Avg
8.21%
5Y Avg
8.27%
Market Cap
$56.55B
Return on Invested Capital (ROIC)
5.87%
TTM Avg
4.33%
3Y Avg
8.79%
5Y Avg
6.29%
Market Cap
$57.41B
Return on Invested Capital (ROIC)
9.23%
TTM Avg
11.95%
3Y Avg
9.10%
5Y Avg
6.91%
Market Cap
$57.64B
Return on Invested Capital (ROIC)
13.47%
TTM Avg
13.08%
3Y Avg
13.59%
5Y Avg
11.20%
Market Cap
$59.64B
Return on Invested Capital (ROIC)
14.09%
TTM Avg
12.00%
3Y Avg
11.71%
5Y Avg
11.51%
Market Cap
$61.19B
Return on Invested Capital (ROIC)
5.18%
TTM Avg
4.58%
3Y Avg
3.92%
5Y Avg
4.55%
Market Cap
$38.36B
Return on Invested Capital (ROIC)
4.10%
TTM Avg
4.28%
3Y Avg
2.75%
5Y Avg
1.34%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Devon Energy Corporation (DVN) | $51.76B | 5.61% | 9.37% | 13.79% | 16.59% |
| Diamondback Energy, Inc. (FANG)vs › | $52.51B | 5.88% | 5.89% | 11.56% | 4.63% |
| ONEOK, Inc. (OKE)vs › | $55.85B | 8.77% | 7.46% | 8.21% | 8.27% |
| Occidental Petroleum Corporation (OXY)vs › | $56.55B | 5.87% | 4.33% | 8.79% | 6.29% |
| Baker Hughes Company (BKR)vs › | $57.41B | 9.23% | 11.95% | 9.10% | 6.91% |
| MPLX Lp (MPLX)vs › | $57.64B | 13.47% | 13.08% | 13.59% | 11.20% |
| Targa Resources Corp. (TRGP)vs › | $59.64B | 14.09% | 12.00% | 11.71% | 11.51% |
| TC Energy Corporation (TRP)vs › | $61.19B | 5.18% | 4.58% | 3.92% | 4.55% |
| Cameco Corporation (CCJ)vs › | $38.36B | 4.10% | 4.28% | 2.75% | 1.34% |
| Kinder Morgan, Inc. (KMI)vs › | $68.47B | 5.72% | 5.22% | 5.08% | 4.88% |
ROIC
5.6%
ROE
7.9%
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 | 5.61% |
| 2026-03-31 | 8.30% |
| 2025-12-31 | 10.46% |
| 2025-09-30 | 10.94% |
| 2025-06-30 | 11.53% |
| 2025-03-31 | 12.34% |
| 2024-12-31 | 11.88% |
| 2024-09-30 | 13.85% |
| 2024-06-30 | 17.08% |
| 2024-03-31 | 16.51% |
| 2023-12-31 | 18.35% |
| 2023-09-30 | 18.85% |
| 2023-06-30 | 23.63% |
| 2023-03-31 | 29.93% |
| 2022-12-31 | 29.47% |
| 2022-09-30 | 31.76% |
| 2022-06-30 | 28.66% |
| 2022-03-31 | 20.73% |
| 2021-12-31 | 17.58% |
| 2021-09-30 | 8.73% |
| 2021-06-30 | 2.20% |
| 2021-03-31 | -2.95% |
| 2020-12-31 | -1.33% |
| 2020-09-30 | -1.39% |
| 2020-06-30 | 2.66% |
| 2020-03-31 | 11.86% |
| 2019-12-31 | 0.92% |
| 2019-09-30 | 8.77% |
| 2019-06-30 | 8.63% |
| 2019-03-31 | 4.28% |
| 2018-12-31 | 6.32% |
| 2018-09-30 | -3.23% |
| 2018-06-30 | -1.31% |
| 2018-03-31 | 1.67% |
| 2017-12-31 | 3.73% |
| 2017-09-30 | 8.36% |
| 2017-06-30 | 12.28% |
| 2017-03-31 | 3.37% |
| 2016-12-31 | -12.43% |
| 2016-09-30 | -36.84% |
| 2016-06-30 | -64.33% |
| 2016-03-31 | -70.99% |
| 2015-12-31 | -76.17% |
| 2015-09-30 | -47.34% |
| 2015-06-30 | -20.45% |
| 2015-03-31 | -3.61% |
| 2014-12-31 | 5.60% |
| 2014-09-30 | 5.69% |
| 2014-06-30 | 4.44% |
| 2014-03-31 | 3.93% |
| 2013-12-31 | 0.78% |
| 2013-09-30 | 2.60% |
| 2013-06-30 | 0.88% |
| 2013-03-31 | 0.27% |
| 2012-12-31 | 6.59% |
| 2012-09-30 | 4.22% |
| 2012-06-30 | 6.66% |
| 2012-03-31 | 6.38% |
| 2011-12-31 | 6.67% |
| 2011-09-30 | 7.37% |
| 2011-06-30 | 6.39% |
| 2011-03-31 | 7.01% |
| 2010-12-31 | 9.70% |
| 2010-09-30 | -4.58% |
| 2010-06-30 | -6.35% |
| 2010-03-31 | -7.37% |
| 2009-12-31 | -39.37% |
| 2009-09-30 | -57.60% |
| 2009-06-30 | -47.27% |
| 2009-03-31 | -46.21% |
| 2008-12-31 | -10.00% |
| 2008-09-30 | 14.14% |
| 2008-06-30 | 9.51% |
| 2008-03-31 | 10.56% |
| 2007-12-31 | 10.61% |
| 2007-09-30 | 9.28% |
| 2007-06-30 | 9.86% |
| 2007-03-31 | 10.62% |
| 2006-12-31 | 8.98% |
| 2006-09-30 | 10.48% |
| 2006-06-30 | 11.30% |
| 2006-03-31 | 11.97% |
| 2005-12-31 | 11.50% |
| 2005-09-30 | 10.90% |
| 2005-06-30 | 9.83% |
| 2005-03-31 | 9.02% |
| 2004-12-31 | 9.05% |
| 2004-09-30 | 9.55% |
| 2004-06-30 | 9.54% |
| 2004-03-31 | 8.69% |
| 2003-12-31 | 8.46% |
| 2003-09-30 | 6.42% |
| 2003-06-30 | 5.38% |
