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 5.18% is 19% above its 5-year average of 4.36%, near the high end of its 5-year range (3.26%–5.97%).
As of the fiscal period ended Tuesday, June 30, 2026. 13.54% above its 12-month average of 4.56%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
5.18%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
4.56%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
4.26%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
4.36%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
4.81%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
4.76%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
5.07%
CURRENT VS TTM AVG
+13.54%
CURRENT VS 3Y AVG
+21.54%
CURRENT VS 5Y AVG
+18.72%
CURRENT VS 10Y AVG
+7.63%
CURRENT VS 15Y AVG
+8.67%
CURRENT VS 20Y AVG
+2.06%
SECTOR MEDIAN · ENERGY
8.71%
median of 48 covered companies
CURRENT VS SECTOR MEDIAN
-40.54%
vs the sector median at left
TC Energy Corporation
Market Cap
$64.40B
Return on Invested Capital (ROIC)
5.18%
TTM Avg
4.56%
3Y Avg
4.26%
5Y Avg
4.36%
Market Cap
$61.95B
Return on Invested Capital (ROIC)
9.23%
TTM Avg
11.95%
3Y Avg
9.10%
5Y Avg
6.91%
Market Cap
$61.78B
Return on Invested Capital (ROIC)
14.09%
TTM Avg
12.00%
3Y Avg
11.71%
5Y Avg
11.51%
Market Cap
$60.12B
Return on Invested Capital (ROIC)
13.47%
TTM Avg
13.08%
3Y Avg
13.59%
5Y Avg
11.20%
Market Cap
$59.71B
Return on Invested Capital (ROIC)
8.77%
TTM Avg
7.46%
3Y Avg
8.21%
5Y Avg
8.27%
Market Cap
$58.78B
Return on Invested Capital (ROIC)
5.87%
TTM Avg
4.33%
3Y Avg
8.79%
5Y Avg
6.29%
Market Cap
$70.28B
Return on Invested Capital (ROIC)
5.72%
TTM Avg
5.22%
3Y Avg
5.08%
5Y Avg
4.88%
Market Cap
$55.61B
Return on Invested Capital (ROIC)
5.88%
TTM Avg
5.89%
3Y Avg
11.56%
5Y Avg
4.63%
Market Cap
$73.33B
Return on Invested Capital (ROIC)
8.16%
TTM Avg
7.33%
3Y Avg
7.52%
5Y Avg
6.81%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| TC Energy Corporation (TRP) | $64.40B | 5.18% | 4.56% | 4.26% | 4.36% |
| Baker Hughes Company (BKR)vs › | $61.95B | 9.23% | 11.95% | 9.10% | 6.91% |
| Targa Resources Corp. (TRGP)vs › | $61.78B | 14.09% | 12.00% | 11.71% | 11.51% |
| MPLX Lp (MPLX)vs › | $60.12B | 13.47% | 13.08% | 13.59% | 11.20% |
| ONEOK, Inc. (OKE)vs › | $59.71B | 8.77% | 7.46% | 8.21% | 8.27% |
| Occidental Petroleum Corporation (OXY)vs › | $58.78B | 5.87% | 4.33% | 8.79% | 6.29% |
| Kinder Morgan, Inc. (KMI)vs › | $70.28B | 5.72% | 5.22% | 5.08% | 4.88% |
| Diamondback Energy, Inc. (FANG)vs › | $55.61B | 5.88% | 5.89% | 11.56% | 4.63% |
| Energy Transfer LP (ET)vs › | $73.33B | 8.16% | 7.33% | 7.52% | 6.81% |
| EOG Resources, Inc. (EOG)vs › | $76.35B | 16.57% | 14.05% | 17.01% | 13.41% |
ROIC
5.2%
ROE
13.2%
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 | 5.18% |
| 2026-03-31 | 5.06% |
| 2025-12-31 | 4.67% |
| 2025-09-30 | 3.89% |
| 2025-06-30 | 3.99% |
| 2025-03-31 | 4.02% |
| 2024-12-31 | 4.21% |
| 2024-09-30 | 4.29% |
| 2024-06-30 | 4.49% |
| 2024-03-31 | 4.34% |
| 2023-12-31 | 4.47% |
| 2023-09-30 | 3.26% |
| 2023-06-30 | 3.51% |
| 2023-03-31 | 4.30% |
| 2022-12-31 | 3.42% |
| 2022-09-30 | 4.75% |
| 2022-06-30 | 4.59% |
| 2022-03-31 | 4.67% |
| 2021-12-31 | 5.75% |
| 2021-09-30 | 5.90% |
| 2021-06-30 | 5.97% |
| 2021-03-31 | 5.91% |
| 2020-12-31 | 5.59% |
| 2020-09-30 | 5.76% |
| 2020-06-30 | 5.76% |
| 2020-03-31 | 5.73% |
| 2019-12-31 | 5.23% |
| 2019-09-30 | 5.55% |
| 2019-06-30 | 5.69% |
| 2019-03-31 | 5.58% |
| 2018-12-31 | 5.68% |
| 2018-09-30 | 5.88% |
| 2018-06-30 | 5.84% |
| 2018-03-31 | 5.57% |
| 2017-12-31 | 5.51% |
| 2017-09-30 | 3.52% |
| 2017-06-30 | 3.78% |
| 2017-03-31 | 3.53% |
| 2016-12-31 | 2.92% |
| 2016-09-30 | 4.49% |
| 2016-06-30 | 4.97% |
| 2016-03-31 | 5.51% |
| 2015-12-31 | 6.15% |
| 2015-09-30 | 4.14% |
| 2015-06-30 | 4.20% |
| 2015-03-31 | 4.25% |
| 2014-12-31 | 4.39% |
| 2014-09-30 | 4.24% |
| 2014-06-30 | 4.22% |
| 2014-03-31 | 4.27% |
| 2013-12-31 | 4.34% |
| 2013-09-30 | 4.42% |
| 2013-06-30 | 4.52% |
| 2013-03-31 | 4.46% |
| 2012-12-31 | 4.26% |
| 2012-09-30 | 4.54% |
| 2012-06-30 | 4.87% |
| 2012-03-31 | 5.19% |
| 2011-12-31 | 5.50% |
| 2011-09-30 | 5.21% |
| 2011-06-30 | 4.71% |
| 2011-03-31 | 4.48% |
| 2010-12-31 | 4.22% |
| 2010-09-30 | 4.63% |
| 2010-06-30 | 4.76% |
| 2010-03-31 | 4.70% |
| 2009-12-31 | 4.93% |
| 2009-09-30 | 6.46% |
| 2009-06-30 | 7.11% |
| 2009-03-31 | 7.84% |
| 2008-12-31 | 8.74% |
| 2008-09-30 | 6.66% |
| 2008-06-30 | 6.82% |
| 2008-03-31 | 7.13% |
| 2007-12-31 | 6.31% |
| 2007-09-30 | 7.17% |
| 2007-06-30 | 7.11% |
| 2007-03-31 | 7.30% |
| 2006-12-31 | 8.49% |
| 2006-09-30 | 7.98% |
| 2006-06-30 | 7.44% |
| 2006-03-31 | 7.59% |
| 2005-12-31 | 7.25% |
| 2005-09-30 | 7.11% |
| 2005-06-30 | 6.81% |
| 2005-03-31 | 7.00% |
| 2004-12-31 | 7.12% |
| 2004-09-30 | 8.24% |
| 2004-06-30 | 8.41% |
| 2004-03-31 | 7.92% |
| 2003-12-31 | 13.47% |
| 2003-09-30 | 4.37% |
| 2003-06-30 | 7.43% |
