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 10.79% is 46% below its 5-year average of 19.86%, near the low end of its 5-year range (7.47%–38.92%).
As of the fiscal period ended Tuesday, June 30, 2026. 24.40% above its 12-month average of 8.68%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 10.79%.
RETURN ON INVESTED CAPITAL (ROIC)
10.79%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
8.68%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
13.12%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
19.86%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
14.87%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
10.77%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
10.76%
CURRENT VS TTM AVG
+24.40%
CURRENT VS 3Y AVG
-17.72%
CURRENT VS 5Y AVG
-45.66%
CURRENT VS 10Y AVG
-27.40%
CURRENT VS 15Y AVG
+0.18%
CURRENT VS 20Y AVG
+0.35%
SECTOR MEDIAN · BASIC MATERIALS
8.91%
median of 54 covered companies
CURRENT VS SECTOR MEDIAN
+21.07%
vs the sector median at left
Steel Dynamics, Inc.
Market Cap
$33.72B
Return on Invested Capital (ROIC)
10.79%
TTM Avg
8.68%
3Y Avg
13.12%
5Y Avg
19.86%
Market Cap
$31.65B
Return on Invested Capital (ROIC)
5.63%
TTM Avg
1.37%
3Y Avg
3.09%
5Y Avg
2.95%
Market Cap
$31.21B
Return on Invested Capital (ROIC)
8.25%
TTM Avg
7.30%
3Y Avg
6.97%
5Y Avg
6.71%
Market Cap
$37.01B
Return on Invested Capital (ROIC)
7.19%
TTM Avg
5.54%
3Y Avg
8.96%
5Y Avg
7.89%
Market Cap
$29.47B
Return on Invested Capital (ROIC)
5.50%
TTM Avg
9.46%
3Y Avg
8.63%
5Y Avg
8.08%
Market Cap
$23.23B
Return on Invested Capital (ROIC)
8.84%
TTM Avg
10.23%
3Y Avg
9.31%
5Y Avg
9.08%
Market Cap
$21.19B
Return on Invested Capital (ROIC)
8.58%
TTM Avg
7.97%
3Y Avg
7.75%
5Y Avg
8.08%
Market Cap
$21.18B
Return on Invested Capital (ROIC)
2.80%
TTM Avg
3.16%
3Y Avg
-1.32%
5Y Avg
-0.03%
Market Cap
$20.75B
Return on Invested Capital (ROIC)
-0.06%
TTM Avg
1.89%
3Y Avg
4.28%
5Y Avg
5.44%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Steel Dynamics, Inc. (STLD) | $33.72B | 10.79% | 8.68% | 13.12% | 19.86% |
| Teck Resources Limited (TECK)vs › | $31.65B | 5.63% | 1.37% | 3.09% | 2.95% |
| Vulcan Materials Company (VMC)vs › | $31.21B | 8.25% | 7.30% | 6.97% | 6.71% |
| Nutrien Ltd. (NTR)vs › | $37.01B | 7.19% | 5.54% | 8.96% | 7.89% |
| Martin Marietta Materials, Inc. (MLM)vs › | $29.47B | 5.50% | 9.46% | 8.63% | 8.08% |
| PPG Industries, Inc. (PPG)vs › | $23.23B | 8.84% | 10.23% | 9.31% | 9.08% |
| Royal Gold, Inc. (RGLD)vs › | $21.19B | 8.58% | 7.97% | 7.75% | 8.08% |
| International Flavors & Fragrances Inc. (IFF)vs › | $21.18B | 2.80% | 3.16% | -1.32% | -0.03% |
| Dow Inc. (DOW)vs › | $20.75B | -0.06% | 1.89% | 4.28% | 5.44% |
| Coeur Mining, Inc. (CDE)vs › | $20.36B | 6.05% | 9.68% | 3.70% | 5.46% |
ROIC
10.8%
ROE
17.1%
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 | 10.79% |
| 2026-03-31 | 8.97% |
| 2025-12-31 | 8.19% |
| 2025-09-30 | 7.95% |
| 2025-06-30 | 7.47% |
| 2025-03-31 | 8.21% |
| 2024-12-31 | 11.50% |
| 2024-09-30 | 12.44% |
| 2024-06-30 | 14.94% |
| 2024-03-31 | 17.92% |
| 2023-12-31 | 18.53% |
| 2023-09-30 | 20.20% |
| 2023-06-30 | 23.42% |
| 2023-03-31 | 27.58% |
| 2022-12-31 | 32.29% |
| 2022-09-30 | 36.90% |
| 2022-06-30 | 38.92% |
| 2022-03-31 | 36.19% |
| 2021-12-31 | 31.90% |
| 2021-09-30 | 25.52% |
| 2021-06-30 | 17.25% |
| 2021-03-31 | 10.92% |
| 2020-12-31 | 8.47% |
| 2020-09-30 | 8.03% |
| 2020-06-30 | 8.81% |
| 2020-03-31 | 10.17% |
| 2019-12-31 | 10.39% |
| 2019-09-30 | 12.88% |
| 2019-06-30 | 16.40% |
| 2019-03-31 | 18.93% |
| 2018-12-31 | 19.91% |
| 2018-09-30 | 20.56% |
| 2018-06-30 | 17.85% |
| 2018-03-31 | 15.49% |
| 2017-12-31 | 15.28% |
| 2017-09-30 | 9.95% |
| 2017-06-30 | 10.35% |
| 2017-03-31 | 10.30% |
| 2016-12-31 | 8.13% |
| 2016-09-30 | 3.37% |
| 2016-06-30 | 2.35% |
| 2016-03-31 | -0.71% |
| 2015-12-31 | -1.28% |
| 2015-09-30 | 2.02% |
| 2015-06-30 | 2.54% |
| 2015-03-31 | 3.04% |
| 2014-12-31 | 2.74% |
| 2014-09-30 | 4.91% |
| 2014-06-30 | 5.13% |
| 2014-03-31 | 4.34% |
| 2013-12-31 | 4.54% |
| 2013-09-30 | 4.86% |
| 2013-06-30 | 4.67% |
| 2013-03-31 | 4.89% |
| 2012-12-31 | 5.21% |
| 2012-09-30 | 4.54% |
| 2012-06-30 | 4.67% |
| 2012-03-31 | 5.80% |
| 2011-12-31 | 6.88% |
| 2011-09-30 | 6.48% |
| 2011-06-30 | 6.03% |
| 2011-03-31 | 5.15% |
| 2010-12-31 | 4.40% |
| 2010-09-30 | 4.77% |
| 2010-06-30 | 5.80% |
| 2010-03-31 | 4.59% |
| 2009-12-31 | 2.54% |
| 2009-09-30 | -1.09% |
| 2009-06-30 | 3.06% |
| 2009-03-31 | 7.28% |
| 2008-12-31 | 11.30% |
| 2008-09-30 | 13.96% |
| 2008-06-30 | 12.19% |
| 2008-03-31 | 12.00% |
| 2007-12-31 | 11.07% |
| 2007-09-30 | 16.72% |
| 2007-06-30 | 20.08% |
| 2007-03-31 | 22.71% |
| 2006-12-31 | 21.47% |
| 2006-09-30 | 20.08% |
| 2006-06-30 | 15.99% |
| 2006-03-31 | 15.69% |
| 2005-12-31 | 15.57% |
| 2005-09-30 | 17.00% |
| 2005-06-30 | 20.75% |
| 2005-03-31 | 22.43% |
| 2004-12-31 | 20.91% |
| 2004-09-30 | 15.73% |
| 2004-06-30 | 9.68% |
| 2004-03-31 | 5.57% |
| 2003-12-31 | 4.61% |
| 2003-09-30 | 6.85% |
| 2003-06-30 | 8.75% |
