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 30.14% is 15% below its 5-year average of 35.63%, near the low end of its 5-year range (29.83%–55.16%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.40% below its 12-month average of 30.88%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 30.14%.
RETURN ON INVESTED CAPITAL (ROIC)
30.14%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
30.88%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
33.43%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
35.63%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
47.57%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
49.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
44.95%
CURRENT VS TTM AVG
-2.40%
CURRENT VS 3Y AVG
-9.82%
CURRENT VS 5Y AVG
-15.41%
CURRENT VS 10Y AVG
-36.64%
CURRENT VS 15Y AVG
-38.82%
CURRENT VS 20Y AVG
-32.94%
SECTOR MEDIAN · ENERGY
8.92%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
+237.93%
vs the sector median at left
Texas Pacific Land Corporation
Market Cap
$23.53B
Return on Invested Capital (ROIC)
30.14%
TTM Avg
30.88%
3Y Avg
33.43%
5Y Avg
35.63%
Market Cap
$25.97B
Return on Invested Capital (ROIC)
6.05%
TTM Avg
6.46%
3Y Avg
7.87%
5Y Avg
6.12%
Market Cap
$20.10B
Return on Invested Capital (ROIC)
10.91%
TTM Avg
1.59%
3Y Avg
12.87%
5Y Avg
-13.50%
Market Cap
$27.37B
Return on Invested Capital (ROIC)
9.86%
TTM Avg
11.71%
3Y Avg
12.95%
5Y Avg
7.90%
Market Cap
$19.10B
Return on Invested Capital (ROIC)
15.30%
TTM Avg
13.07%
3Y Avg
8.66%
5Y Avg
7.81%
Market Cap
$29.76B
Return on Invested Capital (ROIC)
9.69%
TTM Avg
10.46%
3Y Avg
14.02%
5Y Avg
9.25%
Market Cap
$30.82B
Return on Invested Capital (ROIC)
9.07%
TTM Avg
5.85%
3Y Avg
12.44%
5Y Avg
12.44%
Market Cap
$31.78B
Return on Invested Capital (ROIC)
7.85%
TTM Avg
3.92%
3Y Avg
6.67%
5Y Avg
2.34%
Market Cap
$15.11B
Return on Invested Capital (ROIC)
4.28%
TTM Avg
12.05%
3Y Avg
21.40%
5Y Avg
17.25%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Texas Pacific Land Corporation (TPL) | $23.53B | 30.14% | 30.88% | 33.43% | 35.63% |
| Pembina Pipeline Corporation (PBA)vs › | $25.97B | 6.05% | 6.46% | 7.87% | 6.12% |
| Expand Energy Corporation (EXE)vs › | $20.10B | 10.91% | 1.59% | 12.87% | -13.50% |
| Halliburton Company (HAL)vs › | $27.37B | 9.86% | 11.71% | 12.95% | 7.90% |
| First Solar, Inc. (FSLR)vs › | $19.10B | 15.30% | 13.07% | 8.66% | 7.81% |
| Tenaris S.A. (TS)vs › | $29.76B | 9.69% | 10.46% | 14.02% | 9.25% |
| Venture Global, Inc. (VG)vs › | $30.82B | 9.07% | 5.85% | 12.44% | 12.44% |
| EQT Corporation (EQT)vs › | $31.78B | 7.85% | 3.92% | 6.67% | 2.34% |
| APA Corporation (APA)vs › | $15.11B | 4.28% | 12.05% | 21.40% | 17.25% |
| Nextpower Inc. (NXT)vs › | $12.26B | 18.50% | 21.56% | 21.42% | 20.08% |
ROIC
30.1%
ROE
32.4%
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 | 30.14% |
| 2026-03-31 | 29.83% |
| 2025-12-31 | 30.12% |
| 2025-09-30 | 31.57% |
| 2025-06-30 | 32.76% |
| 2025-03-31 | 34.21% |
| 2024-12-31 | 35.60% |
| 2024-09-30 | 37.62% |
| 2024-06-30 | 32.99% |
| 2024-03-31 | 34.57% |
| 2023-12-31 | 34.84% |
| 2023-09-30 | 36.88% |
| 2023-06-30 | 42.98% |
| 2023-03-31 | 48.46% |
| 2022-12-31 | 53.77% |
| 2022-09-30 | 55.16% |
| 2022-06-30 | 54.80% |
| 2022-03-31 | 41.01% |
| 2021-12-31 | 38.69% |
| 2021-09-30 | 36.15% |
| 2021-06-30 | 33.01% |
| 2021-03-31 | 28.87% |
| 2020-12-31 | 32.73% |
| 2020-09-30 | 34.26% |
| 2020-06-30 | 39.83% |
| 2020-03-31 | 46.27% |
| 2019-12-31 | 55.49% |
| 2019-09-30 | 62.35% |
| 2019-06-30 | 69.65% |
| 2019-03-31 | 78.51% |
| 2018-12-31 | 76.57% |
| 2018-09-30 | 79.41% |
| 2017-12-31 | 63.06% |
| 2017-09-30 | 65.42% |
| 2017-06-30 | 69.03% |
| 2017-03-31 | 71.76% |
| 2016-12-31 | 62.66% |
| 2016-09-30 | 66.76% |
| 2016-03-31 | 74.16% |
| 2011-09-30 | 74.80% |
| 2011-06-30 | 63.31% |
| 2011-03-31 | 59.42% |
| 2010-12-31 | 60.26% |
| 2010-09-30 | 42.89% |
| 2010-06-30 | 40.94% |
| 2010-03-31 | 37.25% |
| 2009-12-31 | 33.92% |
| 2009-09-30 | 23.80% |
| 2009-06-30 | 29.28% |
| 2009-03-31 | 32.83% |
| 2008-12-31 | 44.52% |
| 2008-09-30 | 35.50% |
| 2008-06-30 | 32.95% |
| 2008-03-31 | 27.66% |
| 2007-12-31 | 31.89% |
| 2007-09-30 | 29.41% |
| 2007-06-30 | 30.34% |
| 2007-03-31 | 33.49% |
| 2006-12-31 | 34.45% |
| 2006-09-30 | 30.98% |
| 2006-06-30 | 30.08% |
| 2006-03-31 | 29.72% |
| 2005-12-31 | 28.28% |
| 2005-09-30 | 23.34% |
| 2005-06-30 | 58.62% |
| 2005-03-31 | 57.34% |
| 2004-12-31 | 55.90% |
| 2004-09-30 | 49.31% |
| 2004-06-30 | 32.53% |
| 2004-03-31 | 31.73% |
| 2003-12-31 | 29.09% |
| 2003-09-30 | 33.76% |
| 2003-06-30 | 31.04% |
