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 3.05% is in line with its 5-year average of 3.21%, near the low end of its 5-year range (2.67%–4.04%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.83% below its 12-month average of 3.24%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 3.05%.
RETURN ON INVESTED CAPITAL (ROIC)
3.05%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
3.24%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
3.31%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
3.21%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
3.47%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
3.34%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.35%
CURRENT VS TTM AVG
-5.83%
CURRENT VS 3Y AVG
-7.71%
CURRENT VS 5Y AVG
-4.93%
CURRENT VS 10Y AVG
-12.10%
CURRENT VS 15Y AVG
-8.47%
CURRENT VS 20Y AVG
-8.76%
SECTOR MEDIAN · UTILITIES
3.98%
median of 63 covered companies
CURRENT VS SECTOR MEDIAN
-23.27%
vs the sector median at left
H2O America
Market Cap
$2.45B
Return on Invested Capital (ROIC)
3.05%
TTM Avg
3.24%
3Y Avg
3.31%
5Y Avg
3.21%
Market Cap
$2.42B
Return on Invested Capital (ROIC)
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$2.50B
Return on Invested Capital (ROIC)
4.63%
TTM Avg
3.98%
3Y Avg
4.29%
5Y Avg
4.85%
Market Cap
$2.64B
Return on Invested Capital (ROIC)
4.72%
TTM Avg
4.97%
3Y Avg
4.79%
5Y Avg
4.74%
Market Cap
$1.99B
Return on Invested Capital (ROIC)
5.11%
TTM Avg
4.01%
3Y Avg
3.53%
5Y Avg
3.43%
Market Cap
$2.94B
Return on Invested Capital (ROIC)
4.27%
TTM Avg
3.92%
3Y Avg
3.53%
5Y Avg
3.50%
Market Cap
$3.27B
Return on Invested Capital (ROIC)
13.49%
TTM Avg
20.18%
3Y Avg
20.18%
5Y Avg
20.18%
Market Cap
$1.47B
Return on Invested Capital (ROIC)
-12.09%
TTM Avg
-0.84%
3Y Avg
-15.76%
5Y Avg
-81.23%
Market Cap
$1.00B
Return on Invested Capital (ROIC)
3.99%
TTM Avg
3.79%
3Y Avg
3.76%
5Y Avg
3.74%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| H2O America (HTO) | $2.45B | 3.05% | 3.24% | 3.31% | 3.21% |
| newcleo plc Ordinary Shares (NWCL)vs › | $2.42B | N/A | N/A | N/A | N/A |
| ReNew Energy Global Plc (RNW)vs › | $2.50B | 4.63% | 3.98% | 4.29% | 4.85% |
| MGE Energy, Inc. (MGEE)vs › | $2.64B | 4.72% | 4.97% | 4.79% | 4.74% |
| Northwest Natural Holding Company (NWN)vs › | $1.99B | 5.11% | 4.01% | 3.53% | 3.43% |
| Avista Corporation (AVA)vs › | $2.94B | 4.27% | 3.92% | 3.53% | 3.50% |
| SOLV Energy, Inc. Class A Common Stock (MWH)vs › | $3.27B | 13.49% | 20.18% | 20.18% | 20.18% |
| Fluence Energy, Inc. (FLNC)vs › | $1.47B | -12.09% | -0.84% | -15.76% | -81.23% |
| Middlesex Water Company (MSEX)vs › | $1.00B | 3.99% | 3.79% | 3.76% | 3.74% |
| XPLR Infrastructure, LP (XIFR)vs › | $978.08M | -0.01% | -1.00% | -0.49% | 0.07% |
ROIC
3.1%
ROE
5.8%
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 | 3.05% |
| 2026-03-31 | 3.09% |
| 2025-12-31 | 3.18% |
| 2025-09-30 | 3.41% |
| 2025-06-30 | 3.48% |
| 2025-03-31 | 3.51% |
| 2024-12-31 | 3.44% |
| 2024-09-30 | 3.34% |
| 2024-06-30 | 3.28% |
| 2024-03-31 | 3.29% |
| 2023-12-31 | 3.31% |
| 2023-09-30 | 4.04% |
| 2023-06-30 | 3.81% |
| 2023-03-31 | 3.55% |
| 2022-12-31 | 3.22% |
| 2022-09-30 | 2.88% |
| 2022-06-30 | 2.67% |
| 2022-03-31 | 2.88% |
| 2021-12-31 | 2.88% |
| 2021-09-30 | 2.87% |
| 2021-06-30 | 3.09% |
| 2021-03-31 | 3.19% |
| 2020-12-31 | 3.22% |
| 2020-09-30 | 2.61% |
| 2020-06-30 | 1.89% |
| 2020-03-31 | 1.46% |
| 2019-12-31 | 1.39% |
| 2019-09-30 | 2.74% |
| 2019-06-30 | 3.12% |
| 2019-03-31 | 3.19% |
| 2018-12-31 | 3.08% |
| 2018-09-30 | 3.80% |
| 2018-06-30 | 4.08% |
| 2018-03-31 | 4.38% |
| 2017-12-31 | 4.57% |
| 2017-09-30 | 4.30% |
| 2017-06-30 | 4.30% |
| 2017-03-31 | 4.20% |
| 2016-12-31 | 4.09% |
| 2016-09-30 | 4.76% |
| 2016-06-30 | 4.10% |
| 2016-03-31 | 3.66% |
| 2015-12-31 | 3.82% |
| 2015-09-30 | 3.00% |
| 2015-06-30 | 5.52% |
| 2015-03-31 | 5.39% |
| 2014-12-31 | 5.06% |
| 2014-09-30 | 5.33% |
| 2014-06-30 | 2.85% |
| 2014-03-31 | 3.03% |
| 2013-12-31 | 3.05% |
| 2013-09-30 | 3.00% |
| 2013-06-30 | 3.13% |
| 2013-03-31 | 3.02% |
| 2012-12-31 | 3.08% |
| 2012-09-30 | 3.29% |
| 2012-06-30 | 3.21% |
| 2012-03-31 | 3.23% |
| 2011-12-31 | 3.17% |
| 2011-09-30 | 2.54% |
| 2011-06-30 | 2.51% |
| 2011-03-31 | 2.50% |
| 2010-12-31 | 2.50% |
| 2010-09-30 | 2.68% |
| 2010-06-30 | 2.25% |
| 2010-03-31 | 2.14% |
| 2009-12-31 | 3.45% |
| 2009-09-30 | 2.64% |
| 2009-06-30 | 2.33% |
| 2009-03-31 | 2.41% |
| 2008-12-31 | 2.58% |
| 2008-09-30 | 2.76% |
| 2008-06-30 | 3.20% |
| 2008-03-31 | 3.41% |
| 2007-12-31 | 3.47% |
| 2007-09-30 | 4.28% |
| 2007-06-30 | 4.47% |
| 2007-03-31 | 4.64% |
| 2006-12-31 | 4.90% |
| 2006-09-30 | 4.55% |
| 2006-06-30 | 4.67% |
| 2006-03-31 | 4.73% |
| 2005-12-31 | 4.72% |
| 2005-09-30 | 5.39% |
| 2005-06-30 | 4.85% |
| 2005-03-31 | 4.80% |
| 2004-12-31 | 4.63% |
| 2004-09-30 | 4.26% |
| 2004-06-30 | 4.41% |
| 2004-03-31 | 4.30% |
| 2003-12-31 | 5.07% |
| 2003-09-30 | 4.69% |
| 2003-06-30 | 4.78% |
