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 6.05% is in line with its 5-year average of 6.42%, around the middle of its 5-year range (-0.36%–11.50%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.39% below its 12-month average of 6.19%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
6.05%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
6.19%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
6.55%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
6.42%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
5.73%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
5.43%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
6.36%
CURRENT VS TTM AVG
-2.39%
CURRENT VS 3Y AVG
-7.71%
CURRENT VS 5Y AVG
-5.84%
CURRENT VS 10Y AVG
+5.50%
CURRENT VS 15Y AVG
+11.24%
CURRENT VS 20Y AVG
-4.89%
SECTOR MEDIAN · ENERGY
8.71%
median of 48 covered companies
CURRENT VS SECTOR MEDIAN
-30.55%
vs the sector median at left
Pembina Pipeline Corporation
Market Cap
$27.91B
Return on Invested Capital (ROIC)
6.05%
TTM Avg
6.19%
3Y Avg
6.55%
5Y Avg
6.42%
Market Cap
$28.96B
Return on Invested Capital (ROIC)
9.69%
TTM Avg
10.46%
3Y Avg
14.02%
5Y Avg
9.25%
Market Cap
$30.22B
Return on Invested Capital (ROIC)
9.86%
TTM Avg
11.71%
3Y Avg
12.95%
5Y Avg
7.90%
Market Cap
$25.13B
Return on Invested Capital (ROIC)
30.14%
TTM Avg
32.86%
3Y Avg
38.58%
5Y Avg
37.62%
Market Cap
$22.72B
Return on Invested Capital (ROIC)
10.91%
TTM Avg
1.59%
3Y Avg
12.87%
5Y Avg
-13.50%
Market Cap
$21.97B
Return on Invested Capital (ROIC)
15.30%
TTM Avg
13.07%
3Y Avg
8.66%
5Y Avg
7.81%
Market Cap
$34.13B
Return on Invested Capital (ROIC)
7.85%
TTM Avg
3.92%
3Y Avg
6.67%
5Y Avg
2.34%
Market Cap
$34.63B
Return on Invested Capital (ROIC)
9.07%
TTM Avg
5.85%
3Y Avg
12.44%
5Y Avg
12.44%
Market Cap
$15.04B
Return on Invested Capital (ROIC)
4.28%
TTM Avg
12.05%
3Y Avg
21.40%
5Y Avg
17.25%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Pembina Pipeline Corporation (PBA) | $27.91B | 6.05% | 6.19% | 6.55% | 6.42% |
| Tenaris S.A. (TS)vs › | $28.96B | 9.69% | 10.46% | 14.02% | 9.25% |
| Halliburton Company (HAL)vs › | $30.22B | 9.86% | 11.71% | 12.95% | 7.90% |
| Texas Pacific Land Corporation (TPL)vs › | $25.13B | 30.14% | 32.86% | 38.58% | 37.62% |
| Expand Energy Corporation (EXE)vs › | $22.72B | 10.91% | 1.59% | 12.87% | -13.50% |
| First Solar, Inc. (FSLR)vs › | $21.97B | 15.30% | 13.07% | 8.66% | 7.81% |
| EQT Corporation (EQT)vs › | $34.13B | 7.85% | 3.92% | 6.67% | 2.34% |
| Venture Global, Inc. (VG)vs › | $34.63B | 9.07% | 5.85% | 12.44% | 12.44% |
| APA Corporation (APA)vs › | $15.04B | 4.28% | 12.05% | 21.40% | 17.25% |
| Nextpower Inc. (NXT)vs › | $12.96B | 18.50% | 21.56% | 21.42% | 20.08% |
ROIC
6.0%
ROE
10.7%
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 | 6.05% |
| 2026-03-31 | 5.73% |
| 2025-12-31 | 5.98% |
| 2025-09-30 | 6.52% |
| 2025-06-30 | 6.69% |
| 2025-03-31 | 7.19% |
| 2024-12-31 | 6.85% |
| 2024-09-30 | 6.82% |
| 2024-06-30 | 6.68% |
| 2024-03-31 | 7.30% |
| 2023-12-31 | 7.10% |
| 2023-09-30 | 5.70% |
| 2023-06-30 | 10.55% |
| 2023-03-31 | 10.97% |
| 2022-12-31 | 11.50% |
| 2022-09-30 | 11.06% |
| 2022-06-30 | 6.63% |
| 2022-03-31 | 5.80% |
| 2021-12-31 | 5.27% |
| 2021-09-30 | 1.07% |
| 2021-06-30 | -0.36% |
| 2021-03-31 | -0.49% |
| 2020-12-31 | -0.30% |
| 2020-09-30 | 4.06% |
| 2020-06-30 | 4.33% |
| 2020-03-31 | 6.11% |
| 2019-12-31 | 5.53% |
| 2019-09-30 | 7.28% |
| 2019-06-30 | 7.23% |
| 2019-03-31 | 5.69% |
| 2018-12-31 | 6.01% |
| 2018-09-30 | 6.37% |
| 2018-06-30 | 5.62% |
| 2018-03-31 | 4.80% |
| 2017-12-31 | 4.19% |
| 2017-09-30 | 4.21% |
| 2017-06-30 | 4.43% |
| 2017-03-31 | 4.64% |
| 2016-12-31 | 4.13% |
| 2016-09-30 | 4.06% |
| 2016-06-30 | 3.94% |
| 2016-03-31 | 3.50% |
| 2015-12-31 | 3.95% |
| 2015-09-30 | 3.49% |
| 2015-06-30 | 3.47% |
| 2015-03-31 | 4.32% |
| 2014-12-31 | 4.93% |
| 2014-09-30 | 5.88% |
| 2014-06-30 | 5.59% |
| 2014-03-31 | 6.14% |
| 2013-12-31 | 5.58% |
| 2013-09-30 | 5.40% |
| 2013-06-30 | 5.20% |
| 2013-03-31 | 5.03% |
| 2012-12-31 | 3.97% |
| 2012-09-30 | 3.37% |
| 2012-06-30 | 3.39% |
| 2012-03-31 | 6.99% |
| 2011-12-31 | 7.34% |
| 2011-09-30 | 8.04% |
| 2011-06-30 | 7.87% |
| 2011-03-31 | 7.35% |
| 2010-12-31 | 8.76% |
| 2010-09-30 | 9.70% |
| 2010-06-30 | 10.19% |
| 2010-03-31 | 8.74% |
| 2009-12-31 | 7.95% |
| 2009-09-30 | 8.04% |
| 2009-06-30 | 7.97% |
| 2009-03-31 | 9.45% |
| 2008-12-31 | 9.85% |
| 2008-09-30 | 9.00% |
| 2008-06-30 | 8.57% |
| 2008-03-31 | 8.77% |
| 2007-12-31 | 8.19% |
| 2007-09-30 | 7.17% |
| 2007-06-30 | 7.13% |
| 2007-03-31 | 7.35% |
| 2006-12-31 | 6.94% |
| 2006-09-30 | 6.31% |
| 2006-06-30 | 5.92% |
| 2006-03-31 | 5.71% |
| 2005-12-31 | 5.44% |
| 2005-09-30 | 5.17% |
| 2005-06-30 | 5.25% |
| 2005-03-31 | 4.86% |
| 2004-12-31 | 4.56% |
| 2004-09-30 | 4.37% |
| 2004-06-30 | 4.11% |
| 2004-03-31 | 3.94% |
| 2003-12-31 | 3.62% |
| 2003-09-30 | 3.40% |
| 2003-06-30 | 2.95% |
