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 16.32% is 37% below its 5-year average of 26.03%, near the low end of its 5-year range (9.31%–37.56%).
As of the fiscal period ended Tuesday, June 30, 2026. 16.48% below its 12-month average of 19.54%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 16.32%.
RETURN ON INVESTED CAPITAL (ROIC)
16.32%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
19.54%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
27.18%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
26.03%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
15.21%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
14.93%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
11.15%
CURRENT VS TTM AVG
-16.48%
CURRENT VS 3Y AVG
-39.97%
CURRENT VS 5Y AVG
-37.32%
CURRENT VS 10Y AVG
+7.30%
CURRENT VS 15Y AVG
+9.26%
CURRENT VS 20Y AVG
+46.38%
SECTOR MEDIAN · ENERGY
8.92%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
+82.92%
vs the sector median at left
Natural Resource Partners L.P.
Market Cap
$1.45B
Return on Invested Capital (ROIC)
16.32%
TTM Avg
19.54%
3Y Avg
27.18%
5Y Avg
26.03%
Market Cap
$1.37B
Return on Invested Capital (ROIC)
34.01%
TTM Avg
22.12%
3Y Avg
45.21%
5Y Avg
42.46%
Market Cap
$1.92B
Return on Invested Capital (ROIC)
-9.31%
TTM Avg
-54.47%
3Y Avg
-26.41%
5Y Avg
-15.28%
Market Cap
$589.16M
Return on Invested Capital (ROIC)
3.49%
TTM Avg
-7.74%
3Y Avg
-1.25%
5Y Avg
1.96%
Market Cap
$419.62M
Return on Invested Capital (ROIC)
11.26%
TTM Avg
9.38%
3Y Avg
8.82%
5Y Avg
10.88%
Market Cap
$2.66B
Return on Invested Capital (ROIC)
0.35%
TTM Avg
4.10%
3Y Avg
10.06%
5Y Avg
19.58%
Market Cap
$233.07M
Return on Invested Capital (ROIC)
-20.99%
TTM Avg
-20.25%
3Y Avg
-16.25%
5Y Avg
-13.67%
Market Cap
$3.74B
Return on Invested Capital (ROIC)
4.41%
TTM Avg
4.99%
3Y Avg
5.20%
5Y Avg
-0.31%
Market Cap
$4.08B
Return on Invested Capital (ROIC)
3.82%
TTM Avg
3.62%
3Y Avg
9.03%
5Y Avg
11.22%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Natural Resource Partners L.P. (NRP) | $1.45B | 16.32% | 19.54% | 27.18% | 26.03% |
| Dorchester Minerals, L.P. (DMLP)vs › | $1.37B | 34.01% | 22.12% | 45.21% | 42.46% |
| SolarEdge Technologies, Inc. (SEDG)vs › | $1.92B | -9.31% | -54.47% | -26.41% | -15.28% |
| Array Technologies, Inc. (ARRY)vs › | $589.16M | 3.49% | -7.74% | -1.25% | 1.96% |
| Star Group, L.P. (SGU)vs › | $419.62M | 11.26% | 9.38% | 8.82% | 10.88% |
| Centrus Energy Corp. (LEU)vs › | $2.66B | 0.35% | 4.10% | 10.06% | 19.58% |
| enCore Energy Corp. (EU)vs › | $233.07M | -20.99% | -20.25% | -16.25% | -13.67% |
| Helmerich & Payne, Inc. (HP)vs › | $3.74B | 4.41% | 4.99% | 5.20% | -0.31% |
| Enphase Energy, Inc. (ENPH)vs › | $4.08B | 3.82% | 3.62% | 9.03% | 11.22% |
| Oceaneering International, Inc. (OII)vs › | $4.56B | 15.18% | 13.23% | 9.46% | 2.19% |
ROIC
16.3%
ROE
16.1%
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 | 16.32% |
| 2026-03-31 | 17.37% |
| 2025-12-31 | 20.02% |
| 2025-09-30 | 21.45% |
| 2025-06-30 | 22.52% |
| 2025-03-31 | 23.99% |
| 2024-12-31 | 26.38% |
| 2024-09-30 | 28.64% |
| 2024-06-30 | 31.76% |
| 2024-03-31 | 35.31% |
| 2023-12-31 | 37.56% |
| 2023-09-30 | 35.24% |
| 2023-06-30 | 36.79% |
| 2023-03-31 | 36.68% |
| 2022-12-31 | 34.19% |
| 2022-09-30 | 34.93% |
| 2022-06-30 | 29.73% |
| 2022-03-31 | 21.43% |
| 2021-12-31 | 15.62% |
| 2021-09-30 | 11.45% |
| 2021-06-30 | 9.31% |
| 2021-03-31 | -6.18% |
| 2020-12-31 | -5.57% |
| 2020-09-30 | -20.12% |
| 2020-06-30 | -16.41% |
| 2020-03-31 | 2.28% |
| 2019-12-31 | 4.80% |
| 2019-09-30 | 10.77% |
| 2019-06-30 | 9.90% |
| 2019-03-31 | 8.99% |
| 2018-12-31 | 8.37% |
| 2018-09-30 | 7.83% |
| 2018-06-30 | 7.91% |
| 2018-03-31 | 7.78% |
| 2017-12-31 | 7.50% |
| 2017-09-30 | 6.07% |
| 2017-06-30 | 6.09% |
| 2017-03-31 | 7.20% |
| 2016-12-31 | 8.39% |
| 2016-09-30 | 5.95% |
| 2016-06-30 | -31.14% |
| 2016-03-31 | -29.90% |
| 2015-12-31 | -29.35% |
| 2015-09-30 | -26.44% |
| 2015-06-30 | 4.86% |
| 2015-03-31 | 7.61% |
| 2014-12-31 | 7.95% |
| 2014-09-30 | 17.71% |
| 2014-06-30 | 17.30% |
| 2014-03-31 | 17.57% |
| 2013-12-31 | 12.12% |
| 2013-09-30 | 12.62% |
| 2013-06-30 | 13.18% |
| 2013-03-31 | 13.50% |
| 2012-12-31 | 15.41% |
| 2012-09-30 | 11.48% |
| 2012-06-30 | 3.69% |
| 2012-03-31 | 3.77% |
| 2011-12-31 | 3.50% |
| 2011-09-30 | 5.22% |
| 2011-06-30 | 9.08% |
| 2011-03-31 | 10.54% |
| 2010-12-31 | 11.96% |
| 2010-09-30 | 11.77% |
| 2010-06-30 | 11.14% |
| 2010-03-31 | 9.76% |
| 2009-12-31 | 10.28% |
| 2009-09-30 | 7.70% |
| 2009-06-30 | 9.44% |
| 2009-03-31 | 13.81% |
| 2008-12-31 | 15.34% |
| 2008-09-30 | 13.83% |
| 2008-06-30 | 11.66% |
| 2008-03-31 | 5.98% |
| 2007-12-31 | 5.43% |
| 2007-09-30 | 5.17% |
| 2007-06-30 | 4.88% |
| 2007-03-31 | 4.87% |
| 2006-12-31 | 6.89% |
| 2006-09-30 | 8.30% |
| 2006-06-30 | 8.59% |
| 2006-03-31 | 8.47% |
| 2005-12-31 | 8.24% |
| 2005-09-30 | 9.73% |
| 2005-06-30 | 11.86% |
| 2005-03-31 | 10.49% |
| 2004-12-31 | 9.77% |
| 2004-09-30 | 6.00% |
| 2004-06-30 | 5.19% |
| 2004-03-31 | 4.58% |
| 2003-12-31 | 4.61% |
| 2003-09-30 | 4.91% |
| 2003-06-30 | 3.47% |