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 5.23% is 28% below its 5-year average of 7.23%, near the low end of its 5-year range (4.16%–18.50%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.85% above its 12-month average of 4.94%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 5.23%.
RETURN ON INVESTED CAPITAL (ROIC)
5.23%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
4.94%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
5.79%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
7.23%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+5.85%
CURRENT VS 3Y AVG
-9.70%
CURRENT VS 5Y AVG
-27.61%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · ENERGY
5.87%
median of 111 covered companies
CURRENT VS SECTOR MEDIAN
-10.88%
vs the sector median at left
Shoals Technologies Group, Inc.
Market Cap
$1.42B
Return on Invested Capital (ROIC)
5.23%
TTM Avg
4.94%
3Y Avg
5.79%
5Y Avg
7.23%
Market Cap
$1.40B
Return on Invested Capital (ROIC)
34.01%
TTM Avg
22.12%
3Y Avg
45.21%
5Y Avg
42.46%
Market Cap
$1.46B
Return on Invested Capital (ROIC)
16.32%
TTM Avg
22.74%
3Y Avg
28.03%
5Y Avg
20.53%
Market Cap
$1.04B
Return on Invested Capital (ROIC)
4.43%
TTM Avg
6.16%
3Y Avg
9.86%
5Y Avg
7.45%
Market Cap
$1.82B
Return on Invested Capital (ROIC)
-1.68%
TTM Avg
-2.50%
3Y Avg
-7.10%
5Y Avg
-8.12%
Market Cap
$1.85B
Return on Invested Capital (ROIC)
0.41%
TTM Avg
-10.10%
3Y Avg
-8.49%
5Y Avg
-6.93%
Market Cap
$881.99M
Return on Invested Capital (ROIC)
-10.43%
TTM Avg
-4.27%
3Y Avg
3.72%
5Y Avg
-1.68%
Market Cap
$844.61M
Return on Invested Capital (ROIC)
4.97%
TTM Avg
6.24%
3Y Avg
6.24%
5Y Avg
6.24%
Market Cap
$785.55M
Return on Invested Capital (ROIC)
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Shoals Technologies Group, Inc. (SHLS) | $1.42B | 5.23% | 4.94% | 5.79% | 7.23% |
| Dorchester Minerals, L.P. (DMLP)vs › | $1.40B | 34.01% | 22.12% | 45.21% | 42.46% |
| Natural Resource Partners L.P. (NRP)vs › | $1.46B | 16.32% | 22.74% | 28.03% | 20.53% |
| HighPeak Energy, Inc. (HPK)vs › | $1.04B | 4.43% | 6.16% | 9.86% | 7.45% |
| Nextdecade Corp (NEXT)vs › | $1.82B | -1.68% | -2.50% | -7.10% | -8.12% |
| Sunrun Inc. (RUN)vs › | $1.85B | 0.41% | -10.10% | -8.49% | -6.93% |
| ProFrac Holding Corp. (ACDC)vs › | $881.99M | -10.43% | -4.27% | 3.72% | -1.68% |
| HMH Holding Inc. Class A Common Stock (HMH)vs › | $844.61M | 4.97% | 6.24% | 6.24% | 6.24% |
| New Fortress Energy Inc. Series A Mandatorily Convertible Preferred Stock (NFEGP)vs › | $785.55M | N/A | N/A | N/A | N/A |
| Canadian Solar Inc. (CSIQ)vs › | $783.53M | -0.22% | 0.03% | 2.20% | 2.60% |
ROIC
5.2%
ROE
5.2%
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 | 5.23% |
| 2026-03-31 | 5.29% |
| 2025-12-31 | 5.02% |
| 2025-09-30 | 5.00% |
| 2025-06-30 | 4.16% |
| 2025-03-31 | 4.27% |
| 2024-12-31 | 5.23% |
| 2024-09-30 | 6.76% |
| 2024-06-30 | 5.21% |
| 2024-03-31 | 6.27% |
| 2023-12-31 | 8.15% |
| 2023-09-30 | 8.93% |
| 2023-06-30 | 12.45% |
| 2023-03-31 | 10.35% |
| 2022-12-31 | 11.47% |
| 2022-09-30 | 7.14% |
| 2022-06-30 | 5.99% |
| 2022-03-31 | 7.02% |
| 2021-12-31 | 8.93% |
| 2021-09-30 | 11.66% |
| 2021-06-30 | 18.50% |
| 2021-03-31 | 16.29% |
| 2020-12-31 | 21.34% |
| 2020-09-30 | 22.12% |
