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 9.93% is 12% above its 5-year average of 8.89%, near the high end of its 5-year range (4.78%–10.06%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.50% above its 12-month average of 9.41%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
9.93%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
9.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
8.98%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
8.89%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
7.20%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
8.98%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
9.88%
CURRENT VS TTM AVG
+5.50%
CURRENT VS 3Y AVG
+10.61%
CURRENT VS 5Y AVG
+11.76%
CURRENT VS 10Y AVG
+37.96%
CURRENT VS 15Y AVG
+10.62%
CURRENT VS 20Y AVG
+0.56%
SECTOR MEDIAN · BASIC MATERIALS
8.91%
median of 54 covered companies
CURRENT VS SECTOR MEDIAN
+11.42%
vs the sector median at left
Linde plc
Market Cap
$215.38B
Return on Invested Capital (ROIC)
9.93%
TTM Avg
9.41%
3Y Avg
8.98%
5Y Avg
8.89%
Market Cap
$234.69B
Return on Invested Capital (ROIC)
14.01%
TTM Avg
13.25%
3Y Avg
13.89%
5Y Avg
16.61%
Market Cap
$175.63B
Return on Invested Capital (ROIC)
26.20%
TTM Avg
21.91%
3Y Avg
19.48%
5Y Avg
18.59%
Market Cap
$168.14B
Return on Invested Capital (ROIC)
9.23%
TTM Avg
10.98%
3Y Avg
12.46%
5Y Avg
14.50%
Market Cap
$136.25B
Return on Invested Capital (ROIC)
13.76%
TTM Avg
10.18%
3Y Avg
6.03%
5Y Avg
5.49%
Market Cap
$110.22B
Return on Invested Capital (ROIC)
8.80%
TTM Avg
8.30%
3Y Avg
8.88%
5Y Avg
8.51%
Market Cap
$87.89B
Return on Invested Capital (ROIC)
9.77%
TTM Avg
7.86%
3Y Avg
7.37%
5Y Avg
6.63%
Market Cap
$77.70B
Return on Invested Capital (ROIC)
14.59%
TTM Avg
15.02%
3Y Avg
14.74%
5Y Avg
14.56%
Market Cap
$76.75B
Return on Invested Capital (ROIC)
9.42%
TTM Avg
11.92%
3Y Avg
10.20%
5Y Avg
9.64%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Linde plc (LIN) | $215.38B | 9.93% | 9.41% | 8.98% | 8.89% |
| BHP Group Limited (BHP)vs › | $234.69B | 14.01% | 13.25% | 13.89% | 16.61% |
| Southern Copper Corporation (SCCO)vs › | $175.63B | 26.20% | 21.91% | 19.48% | 18.59% |
| Rio Tinto Group (RIO)vs › | $168.14B | 9.23% | 10.98% | 12.46% | 14.50% |
| Newmont Corporation (NEM)vs › | $136.25B | 13.76% | 10.18% | 6.03% | 5.49% |
| Freeport-McMoRan Inc. (FCX)vs › | $110.22B | 8.80% | 8.30% | 8.88% | 8.51% |
| Johnson Controls International plc (JCI)vs › | $87.89B | 9.77% | 7.86% | 7.37% | 6.63% |
| The Sherwin-Williams Company (SHW)vs › | $77.70B | 14.59% | 15.02% | 14.74% | 14.56% |
| Ecolab Inc. (ECL)vs › | $76.75B | 9.42% | 11.92% | 10.20% | 9.64% |
| Barrick Mining Corporation (B)vs › | $74.64B | 17.08% | 10.16% | 7.31% | 7.34% |
ROIC
9.9%
ROE
18.6%
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 | 9.93% |
| 2026-03-31 | 10.06% |
| 2025-12-31 | 8.97% |
| 2025-09-30 | 9.25% |
| 2025-06-30 | 8.86% |
| 2025-03-31 | 9.05% |
| 2024-12-31 | 9.22% |
| 2024-09-30 | 8.91% |
| 2024-06-30 | 9.01% |
| 2024-03-31 | 8.96% |
| 2023-12-31 | 8.87% |
| 2023-09-30 | 8.84% |
| 2023-06-30 | 8.86% |
| 2023-03-31 | 8.33% |
| 2022-12-31 | 8.28% |
| 2022-09-30 | 8.48% |
| 2022-06-30 | 7.22% |
| 2022-03-31 | 6.27% |
| 2021-12-31 | 5.65% |
| 2021-09-30 | 5.11% |
| 2021-06-30 | 4.78% |
| 2021-03-31 | 4.26% |
| 2020-12-31 | 3.74% |
| 2020-09-30 | 3.46% |
| 2020-06-30 | 3.37% |
| 2020-03-31 | 3.41% |
| 2019-12-31 | 3.14% |
| 2019-09-30 | 2.84% |
| 2019-06-30 | 2.53% |
| 2019-03-31 | 2.32% |
| 2018-12-31 | 2.26% |
| 2018-09-30 | 9.05% |
| 2018-06-30 | 8.81% |
| 2018-03-31 | 8.00% |
| 2017-12-31 | 7.63% |
| 2017-09-30 | 9.64% |
| 2017-06-30 | 9.58% |
| 2017-03-31 | 9.63% |
| 2016-12-31 | 9.69% |
| 2016-09-30 | 9.48% |
| 2016-06-30 | 9.44% |
| 2016-03-31 | 9.29% |
| 2015-12-31 | 9.97% |
| 2015-09-30 | 9.35% |
| 2015-06-30 | 9.52% |
| 2015-03-31 | 10.44% |
| 2014-12-31 | 10.37% |
| 2014-09-30 | 11.06% |
| 2014-06-30 | 10.61% |
| 2014-03-31 | 10.58% |
| 2013-12-31 | 10.50% |
| 2013-09-30 | 10.02% |
| 2013-06-30 | 10.04% |
| 2013-03-31 | 10.04% |
| 2012-12-31 | 11.14% |
| 2012-09-30 | 15.40% |
| 2012-06-30 | 16.76% |
| 2012-03-31 | 16.40% |
| 2011-12-31 | 16.97% |
| 2011-09-30 | 10.38% |
| 2011-06-30 | 9.55% |
| 2011-03-31 | 9.52% |
| 2010-12-31 | 9.35% |
| 2010-09-30 | 11.14% |
| 2010-06-30 | 11.52% |
| 2010-03-31 | 10.67% |
| 2009-12-31 | 10.86% |
| 2009-09-30 | 9.98% |
| 2009-06-30 | 10.44% |
| 2009-03-31 | 11.64% |
| 2008-12-31 | 11.97% |
| 2008-09-30 | 12.29% |
| 2008-06-30 | 11.37% |
| 2008-03-31 | 11.31% |
| 2007-12-31 | 11.44% |
| 2007-09-30 | 11.66% |
| 2007-06-30 | 11.35% |
| 2007-03-31 | 11.37% |
| 2006-12-31 | 11.79% |
| 2006-09-30 | 11.45% |
| 2006-06-30 | 9.88% |
| 2006-03-31 | 9.74% |
| 2005-12-31 | 9.57% |
| 2005-09-30 | 9.40% |
| 2005-06-30 | 10.38% |
| 2005-03-31 | 10.07% |
| 2004-12-31 | 9.63% |
| 2004-09-30 | 10.44% |
| 2004-06-30 | 10.17% |
| 2004-03-31 | 10.06% |
| 2003-12-31 | 9.74% |
| 2003-09-30 | 9.81% |
| 2003-06-30 | 9.86% |
