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 4.43% is 23% above its 5-year average of 3.60%, near the high end of its 5-year range (2.41%–4.49%).
As of the fiscal period ended Tuesday, June 30, 2026. 0.43% above its 12-month average of 4.41%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 4.43%.
RETURN ON INVESTED CAPITAL (ROIC)
4.43%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
4.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
3.96%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
3.60%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
3.56%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
3.19%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.57%
CURRENT VS TTM AVG
+0.43%
CURRENT VS 3Y AVG
+12.02%
CURRENT VS 5Y AVG
+22.99%
CURRENT VS 10Y AVG
+24.31%
CURRENT VS 15Y AVG
+38.99%
CURRENT VS 20Y AVG
+23.98%
SECTOR MEDIAN · UTILITIES
4.09%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+8.33%
vs the sector median at left
FirstEnergy Corp.
Market Cap
$26.23B
Return on Invested Capital (ROIC)
4.43%
TTM Avg
4.41%
3Y Avg
3.96%
5Y Avg
3.60%
Market Cap
$27.05B
Return on Invested Capital (ROIC)
4.81%
TTM Avg
4.67%
3Y Avg
4.44%
5Y Avg
4.38%
Market Cap
$27.13B
Return on Invested Capital (ROIC)
3.78%
TTM Avg
4.47%
3Y Avg
4.49%
5Y Avg
4.24%
Market Cap
$25.28B
Return on Invested Capital (ROIC)
4.87%
TTM Avg
3.93%
3Y Avg
3.96%
5Y Avg
3.80%
Market Cap
$27.43B
Return on Invested Capital (ROIC)
4.35%
TTM Avg
4.23%
3Y Avg
4.13%
5Y Avg
4.06%
Market Cap
$25.02B
Return on Invested Capital (ROIC)
4.14%
TTM Avg
4.05%
3Y Avg
3.86%
5Y Avg
3.63%
Market Cap
$25.01B
Return on Invested Capital (ROIC)
4.24%
TTM Avg
3.82%
3Y Avg
3.55%
5Y Avg
3.29%
Market Cap
$28.51B
Return on Invested Capital (ROIC)
4.04%
TTM Avg
3.67%
3Y Avg
3.60%
5Y Avg
3.57%
Market Cap
$22.36B
Return on Invested Capital (ROIC)
5.38%
TTM Avg
9.31%
3Y Avg
7.50%
5Y Avg
8.74%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| FirstEnergy Corp. (FE) | $26.23B | 4.43% | 4.41% | 3.96% | 3.60% |
| Atmos Energy Corporation (ATO)vs › | $27.05B | 4.81% | 4.67% | 4.44% | 4.38% |
| DTE Energy Company (DTE)vs › | $27.13B | 3.78% | 4.47% | 4.49% | 4.24% |
| Eversource Energy (ES)vs › | $25.28B | 4.87% | 3.93% | 3.96% | 3.80% |
| American Water Works Company, Inc. (AWK)vs › | $27.43B | 4.35% | 4.23% | 4.13% | 4.06% |
| CenterPoint Energy, Inc. (CNP)vs › | $25.02B | 4.14% | 4.05% | 3.86% | 3.63% |
| PPL Corporation (PPL)vs › | $25.01B | 4.24% | 3.82% | 3.55% | 3.29% |
| Ameren Corporation (AEE)vs › | $28.51B | 4.04% | 3.67% | 3.60% | 3.57% |
| NRG Energy, Inc. (NRG)vs › | $22.36B | 5.38% | 9.31% | 7.50% | 8.74% |
| Edison International (EIX)vs › | $20.99B | 3.91% | 4.93% | 3.77% | 3.19% |
ROIC
4.4%
ROE
8.4%
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 | 4.43% |
| 2026-03-31 | 4.49% |
| 2025-12-31 | 4.46% |
| 2025-09-30 | 4.39% |
| 2025-06-30 | 4.29% |
| 2025-03-31 | 3.97% |
| 2024-12-31 | 3.66% |
| 2024-09-30 | 3.62% |
| 2024-06-30 | 3.64% |
| 2024-03-31 | 3.83% |
| 2023-12-31 | 4.08% |
| 2023-09-30 | 2.61% |
| 2023-06-30 | 2.41% |
| 2023-03-31 | 2.41% |
| 2022-12-31 | 2.47% |
| 2022-09-30 | 3.39% |
| 2022-06-30 | 3.67% |
| 2022-03-31 | 3.27% |
| 2021-12-31 | 3.22% |
| 2021-09-30 | 3.64% |
| 2021-06-30 | 3.71% |
| 2021-03-31 | 4.37% |
| 2020-12-31 | 4.60% |
| 2020-09-30 | 5.44% |
| 2020-06-30 | 5.40% |
| 2020-03-31 | 5.53% |
| 2019-12-31 | 5.23% |
| 2019-09-30 | 5.14% |
| 2019-06-30 | 5.18% |
| 2019-03-31 | 5.45% |
| 2018-12-31 | 4.76% |
| 2018-09-30 | 0.44% |
| 2018-06-30 | 0.50% |
| 2018-03-31 | 0.16% |
| 2017-12-31 | 0.27% |
| 2017-09-30 | -17.06% |
| 2017-06-30 | -16.77% |
| 2017-03-31 | -20.79% |
| 2016-12-31 | -20.46% |
| 2016-09-30 | 1.83% |
| 2016-06-30 | 1.93% |
| 2016-03-31 | 3.18% |
| 2015-12-31 | 3.00% |
| 2015-09-30 | 2.40% |
| 2015-06-30 | 2.28% |
| 2015-03-31 | 2.17% |
| 2014-12-31 | 2.16% |
| 2014-09-30 | 2.59% |
| 2014-06-30 | 2.34% |
| 2014-03-31 | 1.95% |
| 2013-12-31 | 2.20% |
| 2013-09-30 | 1.84% |
| 2013-06-30 | 1.79% |
| 2013-03-31 | 2.59% |
| 2012-12-31 | 2.70% |
| 2012-09-30 | 2.67% |
| 2012-06-30 | 2.98% |
| 2012-03-31 | 3.00% |
| 2011-12-31 | 2.46% |
| 2011-09-30 | 3.26% |
| 2011-06-30 | 2.24% |
| 2011-03-31 | 2.32% |
| 2010-12-31 | 3.42% |
| 2010-09-30 | 4.27% |
| 2010-06-30 | 4.24% |
| 2010-03-31 | 4.72% |
| 2009-12-31 | 4.71% |
| 2009-09-30 | 4.48% |
| 2009-06-30 | 5.27% |
| 2009-03-31 | 5.02% |
| 2008-12-31 | 5.48% |
| 2008-09-30 | 5.00% |
| 2008-06-30 | 4.61% |
| 2008-03-31 | 4.80% |
| 2007-12-31 | 5.09% |
| 2007-09-30 | 5.30% |
| 2007-06-30 | 5.11% |
| 2007-03-31 | 5.03% |
| 2006-12-31 | 4.94% |
| 2006-09-30 | 5.03% |
| 2006-06-30 | 4.63% |
| 2006-03-31 | 4.26% |
| 2005-12-31 | 3.73% |
| 2005-09-30 | 3.58% |
| 2005-06-30 | 3.52% |
| 2005-03-31 | 3.70% |
| 2004-12-31 | 4.03% |
| 2004-09-30 | 3.93% |
| 2004-06-30 | 3.59% |
| 2004-03-31 | 3.05% |
| 2003-12-31 | 2.95% |
| 2003-09-30 | 2.57% |
| 2003-06-30 | 3.00% |
