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 7.85% is 34% above its 5-year average of 5.86%, around the middle of its 5-year range (-23.25%–23.31%).
As of the fiscal period ended Tuesday, June 30, 2026. 17.08% above its 12-month average of 6.71%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 7.85%.
RETURN ON INVESTED CAPITAL (ROIC)
7.85%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
6.71%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
5.68%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
5.86%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
-0.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
1.47%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.59%
CURRENT VS TTM AVG
+17.08%
CURRENT VS 3Y AVG
+38.14%
CURRENT VS 5Y AVG
+33.87%
CURRENT VS 10Y AVG
+1041.00%
CURRENT VS 15Y AVG
+433.26%
CURRENT VS 20Y AVG
+118.69%
SECTOR MEDIAN · ENERGY
8.92%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
-11.98%
vs the sector median at left
EQT Corporation
Market Cap
$33.82B
Return on Invested Capital (ROIC)
7.85%
TTM Avg
6.71%
3Y Avg
5.68%
5Y Avg
5.86%
Market Cap
$30.79B
Return on Invested Capital (ROIC)
9.69%
TTM Avg
10.46%
3Y Avg
14.02%
5Y Avg
9.25%
Market Cap
$29.94B
Return on Invested Capital (ROIC)
9.86%
TTM Avg
11.71%
3Y Avg
12.95%
5Y Avg
7.90%
Market Cap
$38.58B
Return on Invested Capital (ROIC)
9.07%
TTM Avg
5.85%
3Y Avg
12.44%
5Y Avg
12.44%
Market Cap
$27.80B
Return on Invested Capital (ROIC)
6.05%
TTM Avg
6.46%
3Y Avg
7.87%
5Y Avg
6.12%
Market Cap
$42.11B
Return on Invested Capital (ROIC)
4.10%
TTM Avg
4.28%
3Y Avg
2.75%
5Y Avg
1.34%
Market Cap
$25.46B
Return on Invested Capital (ROIC)
30.14%
TTM Avg
32.86%
3Y Avg
38.58%
5Y Avg
37.62%
Market Cap
$22.46B
Return on Invested Capital (ROIC)
15.30%
TTM Avg
13.07%
3Y Avg
8.66%
5Y Avg
7.81%
Market Cap
$21.95B
Return on Invested Capital (ROIC)
10.91%
TTM Avg
1.59%
3Y Avg
12.87%
5Y Avg
-13.50%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| EQT Corporation (EQT) | $33.82B | 7.85% | 6.71% | 5.68% | 5.86% |
| Tenaris S.A. (TS)vs › | $30.79B | 9.69% | 10.46% | 14.02% | 9.25% |
| Halliburton Company (HAL)vs › | $29.94B | 9.86% | 11.71% | 12.95% | 7.90% |
| Venture Global, Inc. (VG)vs › | $38.58B | 9.07% | 5.85% | 12.44% | 12.44% |
| Pembina Pipeline Corporation (PBA)vs › | $27.80B | 6.05% | 6.46% | 7.87% | 6.12% |
| Cameco Corporation (CCJ)vs › | $42.11B | 4.10% | 4.28% | 2.75% | 1.34% |
| Texas Pacific Land Corporation (TPL)vs › | $25.46B | 30.14% | 32.86% | 38.58% | 37.62% |
| First Solar, Inc. (FSLR)vs › | $22.46B | 15.30% | 13.07% | 8.66% | 7.81% |
| Expand Energy Corporation (EXE)vs › | $21.95B | 10.91% | 1.59% | 12.87% | -13.50% |
| APA Corporation (APA)vs › | $15.81B | 4.28% | 12.05% | 21.40% | 17.25% |
ROIC
7.9%
ROE
11.3%
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 | 7.85% |
| 2026-03-31 | 9.18% |
| 2025-12-31 | 6.18% |
| 2025-09-30 | 5.90% |
| 2025-06-30 | 4.43% |
| 2025-03-31 | 2.32% |
| 2024-12-31 | 1.67% |
| 2024-09-30 | 1.51% |
| 2024-06-30 | 3.99% |
| 2024-03-31 | 3.53% |
| 2023-12-31 | 8.11% |
| 2023-09-30 | 13.55% |
| 2023-06-30 | 19.05% |
| 2023-03-31 | 23.31% |
| 2022-12-31 | 10.71% |
| 2022-09-30 | 13.32% |
| 2022-06-30 | -4.27% |
| 2022-03-31 | -22.16% |
| 2021-12-31 | -7.31% |
| 2021-09-30 | -23.25% |
| 2021-06-30 | -11.61% |
| 2021-03-31 | -6.08% |
| 2020-12-31 | -5.32% |
| 2020-09-30 | -15.76% |
| 2020-06-30 | -11.46% |
| 2020-03-31 | -7.01% |
| 2019-12-31 | -6.59% |
| 2019-09-30 | -4.92% |
| 2019-06-30 | -4.79% |
| 2019-03-31 | -6.99% |
| 2018-12-31 | -18.06% |
| 2018-09-30 | -7.48% |
| 2018-06-30 | -6.27% |
| 2018-03-31 | -5.31% |
| 2017-12-31 | 3.30% |
| 2017-09-30 | 3.40% |
| 2017-06-30 | 3.03% |
| 2017-03-31 | -0.10% |
| 2016-12-31 | -1.90% |
| 2016-09-30 | -0.30% |
| 2016-06-30 | 0.13% |
| 2016-03-31 | 2.14% |
| 2015-12-31 | 3.15% |
| 2015-09-30 | 4.18% |
| 2015-06-30 | 4.45% |
| 2015-03-31 | 5.01% |
| 2014-12-31 | 5.27% |
| 2014-09-30 | 5.37% |
| 2014-06-30 | 5.27% |
| 2014-03-31 | 5.45% |
| 2013-12-31 | 4.23% |
| 2013-09-30 | 4.73% |
| 2013-06-30 | 4.30% |
| 2013-03-31 | 3.76% |
| 2012-12-31 | 3.68% |
| 2012-09-30 | 3.84% |
| 2012-06-30 | 5.51% |
| 2012-03-31 | 5.97% |
| 2011-12-31 | 6.65% |
| 2011-09-30 | 7.28% |
| 2011-06-30 | 5.54% |
| 2011-03-31 | 5.00% |
| 2010-12-31 | 4.60% |
| 2010-09-30 | 4.54% |
| 2010-06-30 | 4.06% |
| 2010-03-31 | 4.06% |
| 2009-12-31 | 4.13% |
| 2009-09-30 | 3.67% |
| 2009-06-30 | 5.26% |
| 2009-03-31 | 6.07% |
| 2008-12-31 | 6.28% |
| 2008-09-30 | 7.42% |
| 2008-06-30 | 7.73% |
| 2008-03-31 | 7.44% |
| 2007-12-31 | 6.96% |
| 2007-09-30 | 7.67% |
| 2007-06-30 | 8.85% |
| 2007-03-31 | 10.58% |
| 2006-12-31 | 10.63% |
| 2006-09-30 | 11.14% |
| 2006-06-30 | 12.75% |
| 2006-03-31 | 12.18% |
| 2005-12-31 | 12.98% |
| 2005-09-30 | 13.30% |
| 2005-06-30 | 12.00% |
| 2005-03-31 | 8.27% |
| 2004-12-31 | 7.63% |
| 2004-09-30 | 6.81% |
| 2004-06-30 | 6.48% |
| 2004-03-31 | 8.60% |
| 2003-12-31 | 8.05% |
| 2003-09-30 | 8.59% |
| 2003-06-30 | 9.17% |
