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 7.69% is in line with its 5-year average of 7.14%, around the middle of its 5-year range (1.26%–12.89%).
As of the fiscal period ended Tuesday, June 30, 2026. 74.12% above its 12-month average of 4.42%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 7.69%.
RETURN ON INVESTED CAPITAL (ROIC)
7.69%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
4.42%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
6.52%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
7.14%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
3.62%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
4.68%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
7.38%
CURRENT VS TTM AVG
+74.12%
CURRENT VS 3Y AVG
+18.07%
CURRENT VS 5Y AVG
+7.74%
CURRENT VS 10Y AVG
+112.36%
CURRENT VS 15Y AVG
+64.43%
CURRENT VS 20Y AVG
+4.28%
SECTOR MEDIAN · ENERGY
8.92%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
-13.75%
vs the sector median at left
Chevron Corporation
Market Cap
$425.82B
Return on Invested Capital (ROIC)
7.69%
TTM Avg
4.42%
3Y Avg
6.52%
5Y Avg
7.14%
Market Cap
$266.54B
Return on Invested Capital (ROIC)
7.87%
TTM Avg
5.59%
3Y Avg
7.46%
5Y Avg
4.45%
Market Cap
$204.08B
Return on Invested Capital (ROIC)
7.31%
TTM Avg
6.34%
3Y Avg
8.80%
5Y Avg
7.06%
Market Cap
$680.77B
Return on Invested Capital (ROIC)
7.45%
TTM Avg
6.83%
3Y Avg
9.86%
5Y Avg
5.97%
Market Cap
$166.33B
Return on Invested Capital (ROIC)
7.85%
TTM Avg
7.09%
3Y Avg
11.61%
5Y Avg
8.83%
Market Cap
$116.61B
Return on Invested Capital (ROIC)
14.33%
TTM Avg
7.20%
3Y Avg
12.52%
5Y Avg
6.48%
Market Cap
$111.99B
Return on Invested Capital (ROIC)
16.52%
TTM Avg
6.96%
3Y Avg
15.13%
5Y Avg
10.18%
Market Cap
$107.10B
Return on Invested Capital (ROIC)
13.86%
TTM Avg
12.12%
3Y Avg
13.45%
5Y Avg
10.71%
Market Cap
$104.56B
Return on Invested Capital (ROIC)
12.71%
TTM Avg
3.97%
3Y Avg
7.78%
5Y Avg
4.95%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Chevron Corporation (CVX) | $425.82B | 7.69% | 4.42% | 6.52% | 7.14% |
| Shell plc (SHEL)vs › | $266.54B | 7.87% | 5.59% | 7.46% | 4.45% |
| TotalEnergies SE (TTE)vs › | $204.08B | 7.31% | 6.34% | 8.80% | 7.06% |
| Exxon Mobil Corporation (XOM)vs › | $680.77B | 7.45% | 6.83% | 9.86% | 5.97% |
| ConocoPhillips (COP)vs › | $166.33B | 7.85% | 7.09% | 11.61% | 8.83% |
| Marathon Petroleum Corporation (MPC)vs › | $116.61B | 14.33% | 7.20% | 12.52% | 6.48% |
| Valero Energy Corporation (VLO)vs › | $111.99B | 16.52% | 6.96% | 15.13% | 10.18% |
| Canadian Natural Resources Limited (CNQ)vs › | $107.10B | 13.86% | 12.12% | 13.45% | 10.71% |
| Phillips 66 (PSX)vs › | $104.56B | 12.71% | 3.97% | 7.78% | 4.95% |
| The Williams Companies, Inc. (WMB)vs › | $91.92B | 6.64% | 5.63% | 5.90% | 5.28% |
ROIC
7.7%
ROE
10.8%
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 | 7.69% |
| 2026-03-31 | 3.31% |
| 2025-12-31 | 3.59% |
| 2025-09-30 | 3.11% |
| 2025-06-30 | 4.38% |
| 2025-03-31 | 4.79% |
| 2024-12-31 | 5.48% |
| 2024-09-30 | 6.43% |
| 2024-06-30 | 7.87% |
| 2024-03-31 | 8.49% |
| 2023-12-31 | 8.98% |
| 2023-09-30 | 9.58% |
| 2023-06-30 | 10.99% |
| 2023-03-31 | 12.89% |
| 2022-12-31 | 12.70% |
| 2022-09-30 | 12.00% |
| 2022-06-30 | 10.18% |
| 2022-03-31 | 7.15% |
| 2021-12-31 | 5.51% |
| 2021-09-30 | 3.55% |
| 2021-06-30 | 1.26% |
| 2021-03-31 | -3.17% |
| 2020-12-31 | -2.78% |
| 2020-09-30 | -7.50% |
| 2020-06-30 | -5.89% |
| 2020-03-31 | -0.17% |
| 2019-12-31 | 0.03% |
| 2019-09-30 | 3.99% |
| 2019-06-30 | 4.45% |
| 2019-03-31 | 4.32% |
| 2018-12-31 | 4.49% |
| 2018-09-30 | 4.12% |
| 2018-06-30 | 2.95% |
| 2018-03-31 | 1.98% |
| 2017-12-31 | 1.28% |
| 2017-09-30 | 0.60% |
| 2017-06-30 | 0.51% |
| 2017-03-31 | -1.09% |
| 2016-12-31 | -2.60% |
| 2016-09-30 | -3.68% |
| 2016-06-30 | -3.23% |
| 2016-03-31 | -2.69% |
| 2015-12-31 | -1.48% |
| 2015-09-30 | 0.33% |
| 2015-06-30 | 1.63% |
| 2015-03-31 | 4.01% |
| 2014-12-31 | 5.13% |
| 2014-09-30 | 6.35% |
| 2014-06-30 | 6.53% |
| 2014-03-31 | 6.59% |
| 2013-12-31 | 7.40% |
| 2013-09-30 | 7.57% |
| 2013-06-30 | 7.71% |
| 2013-03-31 | 8.74% |
| 2012-12-31 | 9.45% |
| 2012-09-30 | 7.86% |
| 2012-06-30 | 9.35% |
| 2012-03-31 | 11.87% |
| 2011-12-31 | 12.05% |
| 2011-09-30 | 15.10% |
| 2011-06-30 | 13.36% |
| 2011-03-31 | 12.21% |
| 2010-12-31 | 11.89% |
| 2010-09-30 | 11.09% |
| 2010-06-30 | 11.53% |
| 2010-03-31 | 7.79% |
| 2009-12-31 | 6.26% |
| 2009-09-30 | 7.92% |
| 2009-06-30 | 10.74% |
| 2009-03-31 | 13.66% |
| 2008-12-31 | 16.31% |
| 2008-09-30 | 18.39% |
| 2008-06-30 | 16.68% |
| 2008-03-31 | 16.92% |
| 2007-12-31 | 17.50% |
| 2007-09-30 | 21.02% |
| 2007-06-30 | 23.33% |
| 2007-03-31 | 22.55% |
| 2006-12-31 | 23.04% |
| 2006-09-30 | 22.71% |
| 2006-06-30 | 20.65% |
| 2006-03-31 | 19.92% |
| 2005-12-31 | 19.00% |
| 2005-09-30 | 18.20% |
| 2005-06-30 | 22.50% |
| 2005-03-31 | 23.16% |
| 2004-12-31 | 25.14% |
| 2004-09-30 | 18.34% |
| 2004-06-30 | 17.70% |
| 2004-03-31 | 17.01% |
| 2003-12-31 | 16.49% |
| 2003-09-30 | 15.22% |
| 2003-06-03 | 14.77% |
