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 8.48% is 49% below its 5-year average of 16.73%, near the low end of its 5-year range (7.78%–31.26%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.04% below its 12-month average of 8.65%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 8.48%.
RETURN ON INVESTED CAPITAL (ROIC)
8.48%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
8.65%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
12.17%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
16.73%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
11.95%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
10.97%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
11.82%
CURRENT VS TTM AVG
-2.04%
CURRENT VS 3Y AVG
-30.33%
CURRENT VS 5Y AVG
-49.32%
CURRENT VS 10Y AVG
-29.05%
CURRENT VS 15Y AVG
-22.72%
CURRENT VS 20Y AVG
-28.28%
SECTOR MEDIAN · BASIC MATERIALS
8.91%
median of 54 covered companies
CURRENT VS SECTOR MEDIAN
-4.91%
vs the sector median at left
Vale S.A.
Market Cap
$60.51B
Return on Invested Capital (ROIC)
8.48%
TTM Avg
8.65%
3Y Avg
12.17%
5Y Avg
16.73%
Market Cap
$58.83B
Return on Invested Capital (ROIC)
8.23%
TTM Avg
8.61%
3Y Avg
8.75%
5Y Avg
7.88%
Market Cap
$64.10B
Return on Invested Capital (ROIC)
-1.61%
TTM Avg
3.81%
3Y Avg
5.62%
5Y Avg
6.30%
Market Cap
$55.95B
Return on Invested Capital (ROIC)
10.13%
TTM Avg
7.31%
3Y Avg
10.13%
5Y Avg
15.59%
Market Cap
$53.69B
Return on Invested Capital (ROIC)
6.19%
TTM Avg
5.23%
3Y Avg
5.29%
5Y Avg
4.46%
Market Cap
$52.90B
Return on Invested Capital (ROIC)
31.40%
TTM Avg
16.34%
3Y Avg
10.27%
5Y Avg
10.53%
Market Cap
$69.85B
Return on Invested Capital (ROIC)
16.61%
TTM Avg
11.24%
3Y Avg
9.32%
5Y Avg
9.68%
Market Cap
$73.52B
Return on Invested Capital (ROIC)
17.08%
TTM Avg
10.16%
3Y Avg
7.31%
5Y Avg
7.34%
Market Cap
$77.74B
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 |
|---|---|---|---|---|---|
| Vale S.A. (VALE) | $60.51B | 8.48% | 8.65% | 12.17% | 16.73% |
| CRH plc (CRH)vs › | $58.83B | 8.23% | 8.61% | 8.75% | 7.88% |
| Air Products and Chemicals, Inc. (APD)vs › | $64.10B | -1.61% | 3.81% | 5.62% | 6.30% |
| Nucor Corporation (NUE)vs › | $55.95B | 10.13% | 7.31% | 10.13% | 15.59% |
| Corteva, Inc. (CTVA)vs › | $53.69B | 6.19% | 5.23% | 5.29% | 4.46% |
| AngloGold Ashanti plc (AU)vs › | $52.90B | 31.40% | 16.34% | 10.27% | 10.53% |
| Wheaton Precious Metals Corp. (WPM)vs › | $69.85B | 16.61% | 11.24% | 9.32% | 9.68% |
| Barrick Mining Corporation (B)vs › | $73.52B | 17.08% | 10.16% | 7.31% | 7.34% |
| Ecolab Inc. (ECL)vs › | $77.74B | 9.42% | 11.92% | 10.20% | 9.64% |
| The Sherwin-Williams Company (SHW)vs › | $79.71B | 14.59% | 15.02% | 14.74% | 14.56% |
ROIC
8.5%
ROE
5.3%
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 | 8.48% |
| 2026-03-31 | 8.09% |
| 2025-12-31 | 7.78% |
| 2025-09-30 | 9.57% |
| 2025-06-30 | 9.35% |
| 2025-03-31 | 12.57% |
| 2024-12-31 | 14.38% |
| 2024-09-30 | 17.58% |
| 2024-06-30 | 17.74% |
| 2024-03-31 | 12.85% |
| 2023-12-31 | 12.88% |
| 2023-09-30 | 14.14% |
| 2023-06-30 | 12.77% |
| 2023-03-31 | 16.46% |
| 2022-12-31 | 19.91% |
| 2022-09-30 | 21.10% |
| 2022-06-30 | 23.97% |
| 2022-03-31 | 27.92% |
| 2021-12-31 | 31.26% |
| 2021-09-30 | 29.32% |
| 2021-06-30 | 23.18% |
| 2021-03-31 | 16.74% |
| 2020-12-31 | 12.51% |
| 2020-09-30 | 9.33% |
| 2020-06-30 | 7.19% |
| 2020-03-31 | 6.64% |
| 2019-12-31 | 1.64% |
| 2019-09-30 | 8.07% |
| 2019-06-30 | 7.43% |
| 2019-03-31 | 8.54% |
| 2018-12-31 | 14.72% |
| 2018-09-30 | 13.16% |
| 2018-06-30 | 11.96% |
| 2018-03-31 | 8.98% |
| 2017-12-31 | 10.07% |
| 2017-09-30 | 9.39% |
| 2017-06-30 | 9.04% |
| 2017-03-31 | 7.28% |
| 2016-12-31 | 5.10% |
| 2016-09-30 | -4.44% |
| 2016-06-30 | -5.82% |
| 2016-03-31 | -6.50% |
| 2015-12-31 | -7.58% |
| 2015-09-30 | 3.06% |
| 2015-06-30 | 3.64% |
| 2015-03-31 | 4.99% |
| 2014-12-31 | 3.67% |
| 2014-09-30 | 4.51% |
| 2014-06-30 | 5.68% |
| 2014-03-31 | 6.33% |
| 2013-12-31 | 7.07% |
| 2013-09-30 | 7.79% |
| 2013-06-30 | 6.77% |
| 2013-03-31 | 7.61% |
| 2012-12-31 | 7.52% |
| 2012-09-30 | 12.57% |
| 2012-06-30 | 17.78% |
| 2012-03-31 | 17.18% |
| 2011-12-31 | 20.84% |
| 2011-09-30 | 20.82% |
| 2011-06-30 | 18.31% |
| 2011-03-31 | 17.95% |
| 2010-12-31 | 15.53% |
| 2010-09-30 | 12.72% |
| 2010-06-30 | 10.97% |
| 2010-03-31 | 7.55% |
| 2009-12-31 | 7.10% |
| 2009-09-30 | 6.79% |
| 2009-06-30 | 10.87% |
| 2009-03-31 | 17.80% |
| 2008-12-31 | 19.90% |
| 2008-09-30 | 17.04% |
| 2008-06-30 | 14.67% |
| 2008-03-31 | 15.15% |
| 2007-12-31 | 15.31% |
| 2007-09-30 | 14.21% |
| 2007-06-30 | 14.11% |
| 2007-03-31 | 12.35% |
| 2006-12-31 | 11.32% |
| 2006-09-30 | 22.74% |
| 2006-06-30 | 22.44% |
| 2006-03-31 | 22.06% |
| 2005-12-31 | 27.77% |
| 2005-09-30 | 19.41% |
| 2005-06-30 | 18.25% |
| 2005-03-31 | 16.90% |
| 2004-12-31 | 16.39% |
| 2004-09-30 | 17.85% |
| 2004-06-30 | 15.90% |
| 2004-03-31 | 12.65% |
| 2003-12-31 | 11.84% |
| 2003-09-30 | 13.02% |
| 2003-06-30 | 17.53% |
