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 14.09% is 30% above its 5-year average of 10.82%, near the high end of its 5-year range (6.69%–14.09%).
As of the fiscal period ended Tuesday, June 30, 2026. 16.06% above its 12-month average of 12.14%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 14.09%.
RETURN ON INVESTED CAPITAL (ROIC)
14.09%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
12.14%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
10.85%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
10.82%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
7.08%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
6.87%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+16.06%
CURRENT VS 3Y AVG
+29.83%
CURRENT VS 5Y AVG
+30.25%
CURRENT VS 10Y AVG
+99.05%
CURRENT VS 15Y AVG
+105.10%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · ENERGY
8.92%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
+58.00%
vs the sector median at left
Targa Resources Corp.
Market Cap
$62.11B
Return on Invested Capital (ROIC)
14.09%
TTM Avg
12.14%
3Y Avg
10.85%
5Y Avg
10.82%
Market Cap
$62.96B
Return on Invested Capital (ROIC)
5.18%
TTM Avg
4.58%
3Y Avg
3.92%
5Y Avg
4.55%
Market Cap
$59.96B
Return on Invested Capital (ROIC)
13.47%
TTM Avg
13.08%
3Y Avg
13.59%
5Y Avg
11.20%
Market Cap
$57.85B
Return on Invested Capital (ROIC)
8.77%
TTM Avg
7.46%
3Y Avg
8.21%
5Y Avg
8.27%
Market Cap
$57.41B
Return on Invested Capital (ROIC)
9.23%
TTM Avg
11.95%
3Y Avg
9.10%
5Y Avg
6.91%
Market Cap
$56.94B
Return on Invested Capital (ROIC)
5.87%
TTM Avg
4.33%
3Y Avg
8.79%
5Y Avg
6.29%
Market Cap
$70.63B
Return on Invested Capital (ROIC)
5.72%
TTM Avg
5.22%
3Y Avg
5.08%
5Y Avg
4.88%
Market Cap
$53.24B
Return on Invested Capital (ROIC)
5.88%
TTM Avg
5.89%
3Y Avg
11.56%
5Y Avg
4.63%
Market Cap
$52.35B
Return on Invested Capital (ROIC)
5.61%
TTM Avg
11.22%
3Y Avg
17.56%
5Y Avg
14.66%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Targa Resources Corp. (TRGP) | $62.11B | 14.09% | 12.14% | 10.85% | 10.82% |
| TC Energy Corporation (TRP)vs › | $62.96B | 5.18% | 4.58% | 3.92% | 4.55% |
| MPLX Lp (MPLX)vs › | $59.96B | 13.47% | 13.08% | 13.59% | 11.20% |
| ONEOK, Inc. (OKE)vs › | $57.85B | 8.77% | 7.46% | 8.21% | 8.27% |
| Baker Hughes Company (BKR)vs › | $57.41B | 9.23% | 11.95% | 9.10% | 6.91% |
| Occidental Petroleum Corporation (OXY)vs › | $56.94B | 5.87% | 4.33% | 8.79% | 6.29% |
| Kinder Morgan, Inc. (KMI)vs › | $70.63B | 5.72% | 5.22% | 5.08% | 4.88% |
| Diamondback Energy, Inc. (FANG)vs › | $53.24B | 5.88% | 5.89% | 11.56% | 4.63% |
| Devon Energy Corporation (DVN)vs › | $52.35B | 5.61% | 11.22% | 17.56% | 14.66% |
| Energy Transfer LP (ET)vs › | $71.92B | 8.16% | 7.33% | 7.52% | 6.81% |
ROIC
14.1%
ROE
61.9%
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 | 14.09% |
| 2026-03-31 | 11.21% |
| 2025-12-31 | 12.14% |
| 2025-09-30 | 11.55% |
| 2025-06-30 | 11.72% |
| 2025-03-31 | 11.83% |
| 2024-12-31 | 11.23% |
| 2024-09-30 | 10.91% |
| 2024-06-30 | 10.32% |
| 2024-03-31 | 9.57% |
| 2023-12-31 | 9.62% |
| 2023-09-30 | 10.01% |
| 2023-06-30 | 10.15% |
| 2023-03-31 | 11.56% |
| 2022-12-31 | 10.15% |
| 2022-09-30 | 6.69% |
| 2022-06-30 | 9.15% |
| 2022-03-31 | 7.52% |
| 2021-12-31 | 8.86% |
| 2021-09-30 | 13.46% |
| 2021-06-30 | 11.35% |
| 2021-03-31 | 10.03% |
| 2020-12-31 | 8.76% |
| 2020-09-30 | 5.90% |
| 2020-06-30 | 5.00% |
| 2020-03-31 | 4.44% |
| 2019-12-31 | 2.97% |
| 2019-09-30 | 2.04% |
| 2019-06-30 | 2.34% |
| 2019-03-31 | 2.81% |
| 2018-12-31 | 3.13% |
| 2018-09-30 | 3.94% |
| 2018-06-30 | 3.32% |
| 2018-03-31 | 2.72% |
| 2017-12-31 | 2.45% |
| 2017-09-30 | 1.93% |
| 2017-06-30 | 1.80% |
| 2017-03-31 | 2.11% |
| 2016-12-31 | 1.93% |
| 2016-09-30 | -0.50% |
| 2016-06-30 | 0.08% |
| 2016-03-31 | 0.45% |
| 2015-12-31 | 1.25% |
| 2015-09-30 | 2.98% |
| 2015-06-30 | 3.77% |
| 2015-03-31 | 4.11% |
| 2014-12-31 | 9.50% |
| 2014-09-30 | 9.37% |
| 2014-06-30 | 8.24% |
| 2014-03-31 | 6.99% |
| 2013-12-31 | 5.63% |
| 2013-09-30 | 4.66% |
| 2013-06-30 | 4.34% |
| 2013-03-31 | 5.18% |
| 2012-12-31 | 6.18% |
| 2012-09-30 | 9.21% |
| 2012-06-30 | 9.75% |
| 2012-03-31 | 10.93% |
| 2011-12-31 | 10.11% |
| 2011-09-30 | 8.25% |
| 2011-06-30 | 7.95% |
| 2011-03-31 | 5.63% |
| 2010-12-31 | 5.22% |
| 2010-09-30 | 6.22% |
| 2010-06-30 | 7.18% |
