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 3.99% is in line with its 5-year average of 3.74%, around the middle of its 5-year range (3.21%–4.34%).
As of the fiscal period ended Tuesday, June 30, 2026. 4.13% above its 12-month average of 3.83%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 3.99%.
RETURN ON INVESTED CAPITAL (ROIC)
3.99%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
3.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
3.65%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
3.74%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
3.95%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
3.90%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.91%
CURRENT VS TTM AVG
+4.13%
CURRENT VS 3Y AVG
+9.31%
CURRENT VS 5Y AVG
+6.52%
CURRENT VS 10Y AVG
+0.80%
CURRENT VS 15Y AVG
+2.19%
CURRENT VS 20Y AVG
+1.95%
SECTOR MEDIAN · UTILITIES
3.95%
median of 66 covered companies
CURRENT VS SECTOR MEDIAN
+1.02%
vs the sector median at left
Middlesex Water Company
Market Cap
$996.84M
Return on Invested Capital (ROIC)
3.99%
TTM Avg
3.83%
3Y Avg
3.65%
5Y Avg
3.74%
Market Cap
$978.55M
Return on Invested Capital (ROIC)
-0.01%
TTM Avg
-1.00%
3Y Avg
-0.49%
5Y Avg
0.07%
Market Cap
$698.00M
Return on Invested Capital (ROIC)
5.74%
TTM Avg
-40.45%
3Y Avg
-15.25%
5Y Avg
-10.34%
Market Cap
$611.07M
Return on Invested Capital (ROIC)
-10.98%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$1.48B
Return on Invested Capital (ROIC)
-12.09%
TTM Avg
-0.84%
3Y Avg
-15.76%
5Y Avg
-81.23%
Market Cap
$499.41M
Return on Invested Capital (ROIC)
4.45%
TTM Avg
4.22%
3Y Avg
4.58%
5Y Avg
4.79%
Market Cap
$486.09M
Return on Invested Capital (ROIC)
6.10%
TTM Avg
7.30%
3Y Avg
8.88%
5Y Avg
6.92%
Market Cap
$397.80M
Return on Invested Capital (ROIC)
-46.54%
TTM Avg
-111.72%
3Y Avg
-768.49%
5Y Avg
-768.49%
Market Cap
$357.71M
Return on Invested Capital (ROIC)
-0.01%
TTM Avg
-30.12%
3Y Avg
-42.72%
5Y Avg
-33.78%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Middlesex Water Company (MSEX) | $996.84M | 3.99% | 3.83% | 3.65% | 3.74% |
| XPLR Infrastructure, LP (XIFR)vs › | $978.55M | -0.01% | -1.00% | -0.49% | 0.07% |
| Hallador Energy Company (HNRG)vs › | $698.00M | 5.74% | -40.45% | -15.25% | -10.34% |
| General Fusion Group Ltd. (GFUZ)vs › | $611.07M | -10.98% | N/A | N/A | N/A |
| Fluence Energy, Inc. (FLNC)vs › | $1.48B | -12.09% | -0.84% | -15.76% | -81.23% |
| The York Water Company (YORW)vs › | $499.41M | 4.45% | 4.22% | 4.58% | 4.79% |
| Consolidated Water Co. Ltd. (CWCO)vs › | $486.09M | 6.10% | 7.30% | 8.88% | 6.92% |
| Terra Innovatum Global N.V. Ordinary shares (NKLR)vs › | $397.80M | -46.54% | -111.72% | -768.49% | -768.49% |
| Digi Power X Inc. (DGXX)vs › | $357.71M | -0.01% | -30.12% | -42.72% | -33.78% |
| Artesian Resources Corporation (ARTNA)vs › | $347.83M | 3.25% | 2.84% | 2.61% | 2.68% |
ROIC
4.0%
ROE
9.2%
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 | 3.99% |
| 2026-03-31 | 3.80% |
| 2025-12-31 | 3.74% |
| 2025-09-30 | 3.78% |
| 2025-06-30 | 3.83% |
| 2025-03-31 | 3.89% |
| 2024-12-31 | 3.83% |
| 2024-09-30 | 3.76% |
| 2024-06-30 | 3.32% |
| 2024-03-31 | 3.33% |
| 2023-12-31 | 3.21% |
| 2023-09-30 | 3.21% |
| 2023-06-30 | 3.72% |
| 2023-03-31 | 3.66% |
| 2022-12-31 | 4.27% |
| 2022-09-30 | 4.34% |
| 2022-06-30 | 4.06% |
| 2022-03-31 | 4.13% |
| 2021-12-31 | 3.38% |
| 2021-09-30 | 3.54% |
| 2021-06-30 | 3.80% |
| 2021-03-31 | 3.88% |
| 2020-12-31 | 4.03% |
| 2020-09-30 | 3.99% |
| 2020-06-30 | 3.89% |
| 2020-03-31 | 3.91% |
| 2019-12-31 | 4.07% |
| 2019-09-30 | 4.13% |
| 2019-06-30 | 4.67% |
| 2019-03-31 | 5.07% |
| 2018-12-31 | 4.95% |
| 2018-09-30 | 4.83% |
| 2018-06-30 | 4.25% |
| 2018-03-31 | 3.81% |
| 2017-12-31 | 4.05% |
| 2017-09-30 | 3.94% |
| 2017-06-30 | 4.22% |
| 2017-03-31 | 4.40% |
| 2016-12-31 | 4.53% |
| 2016-09-30 | 4.61% |
| 2016-06-30 | 4.39% |
| 2016-03-31 | 4.36% |
| 2015-12-31 | 4.15% |
| 2015-09-30 | 3.96% |
| 2015-06-30 | 4.12% |
| 2015-03-31 | 4.09% |
| 2014-12-31 | 4.01% |
| 2014-09-30 | 4.14% |
| 2014-06-30 | 3.98% |
| 2014-03-31 | 3.99% |
| 2013-12-31 | 3.99% |
| 2013-09-30 | 3.69% |
| 2013-06-30 | 3.80% |
| 2013-03-31 | 3.71% |
| 2012-12-31 | 3.35% |
| 2012-09-30 | 3.27% |
| 2012-06-30 | 2.99% |
| 2012-03-31 | 3.02% |
| 2011-12-31 | 3.14% |
| 2011-09-30 | 3.50% |
| 2011-06-30 | 3.79% |
| 2011-03-31 | 4.05% |
| 2010-12-31 | 3.84% |
| 2010-09-30 | 3.72% |
| 2010-06-30 | 3.31% |
| 2010-03-31 | 3.01% |
| 2009-12-31 | 2.99% |
| 2009-09-30 | 3.06% |
| 2009-06-30 | 3.36% |
| 2009-03-31 | 3.59% |
| 2008-12-31 | 3.80% |
| 2008-09-30 | 4.17% |
| 2008-06-30 | 4.09% |
| 2008-03-31 | 4.21% |
| 2007-12-31 | 4.15% |
| 2007-09-30 | 4.06% |
| 2007-06-30 | 3.86% |
| 2007-03-31 | 3.88% |
| 2006-12-31 | 4.00% |
| 2006-09-30 | 4.45% |
| 2006-06-30 | 4.41% |
| 2006-03-31 | 4.18% |
| 2005-12-31 | 4.03% |
| 2005-09-30 | 3.97% |
| 2005-06-30 | 4.22% |
| 2005-03-31 | 4.24% |
| 2004-12-31 | 4.12% |
| 2004-09-30 | 4.08% |
| 2004-06-30 | 3.85% |
| 2004-03-31 | 3.94% |
| 2003-12-31 | 4.03% |
| 2003-09-30 | 4.45% |
| 2003-06-30 | 4.59% |
