Howmet Aerospace
Howmet Aerospace returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 23.48% | 24.47% | 24.21% | 34.71% | 15.4% | 15.8 pp |
| FY 2026 Q1 | Mar 31, 2026 | 24.91% | 23.08% | 241.18% | 33.8% | 14.63% | 17.2 pp |
| FY 2025 Q4 | Dec 31, 2025 | 22.41% | 22.27% | 87.93% | 30.4% | 13.9% | 14.7 pp |
| FY 2025 Q3 | Sep 30, 2025 | 21.34% | 21.53% | 126.63% | 30.02% | 13.34% | 13.6 pp |
| FY 2025 Q2 | Jun 30, 2025 | 21.18% | 21.17% | 77.97% | 29.94% | 12.86% | 13.5 pp |
| FY 2025 Q1 | Mar 31, 2025 | 19.52% | 19.6% | 119.64% | 28.25% | 11.86% | 11.8 pp |
| FY 2024 Q4 | Dec 31, 2024 | 18.89% | 18.54% | 244.12% | 26.84% | 11.03% | 11.2 pp |
| FY 2024 Q3 | Sep 30, 2024 | 17.64% | 17.06% | 261.12% | 25.67% | 10.39% | 9.9 pp |
| FY 2024 Q2 | Jun 30, 2024 | 15.77% | 16.33% | — | 23.12% | 8.92% | 8.1 pp |
| FY 2024 Q1 | Mar 31, 2024 | — | 14.72% | — | 21.87% | 8.36% | — |
| FY 2023 Q4 | Dec 31, 2023 | 13.38% | 13.81% | 144.5% | 19.98% | 7.4% | 5.7 pp |
| FY 2023 Q3 | Sep 30, 2023 | 11.56% | 12.71% | 54.59% | 17.86% | 6.37% | 3.9 pp |
| FY 2023 Q2 | Jun 30, 2023 | 10.61% | 11.6% | 38.21% | 14.73% | 5.25% | 2.9 pp |
| FY 2023 Q1 | Mar 31, 2023 | — | 11.04% | — | 13.41% | 4.79% | — |
| FY 2022 Q4 | Dec 31, 2022 | 10.16% | 10.36% | — | 13.14% | 4.58% | 2.5 pp |
| FY 2022 Q3 | Sep 30, 2022 | 9.71% | 9.56% | — | 12.64% | 4.29% | 2 pp |
| FY 2022 Q2 | Jun 30, 2022 | 9.74% | 9.2% | — | 10.83% | 3.74% | 2 pp |
| FY 2022 Q1 | Mar 31, 2022 | 8.63% | 8.69% | — | 8.6% | 2.93% | 0.9 pp |
| FY 2021 Q4 | Dec 31, 2021 | 8.25% | 7.98% | — | 7.23% | 2.38% | 0.5 pp |
| FY 2021 Q3 | Sep 30, 2021 | 10.09% | 8.69% | — | 8.02% | 2.65% | 2.4 pp |
| FY 2021 Q2 | Jun 30, 2021 | — | 7.32% | — | 8.32% | 2.72% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | 4.71% | — | 2.94% | 0.86% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | 5.39% | — | 6.33% | 1.8% | — |
| FY 2020 Q3 | Sep 30, 2020 | 9.84% | 8.44% | — | 11.27% | 3.22% | 2.1 pp |
| FY 2020 Q2 | Jun 30, 2020 | 10.12% | 10.13% | — | 12.55% | 3.57% | 2.4 pp |
| FY 2020 Q1 | Mar 31, 2020 | 8.17% | 7.3% | -403.23% | 9.97% | 2.7% | 0.5 pp |
| FY 2019 Q4 | Dec 31, 2019 | 8.48% | 7.23% | — | 9.19% | 2.59% | 0.8 pp |
| FY 2019 Q3 | Sep 30, 2019 | 6.73% | 6.65% | — | 7.5% | 2.12% | -1 pp |
| FY 2019 Q2 | Jun 30, 2019 | 7.82% | 6.51% | — | 8.81% | 2.46% | 0.1 pp |
| FY 2019 Q1 | Mar 31, 2019 | 9.62% | 9.07% | — | 13.11% | 3.75% | 1.9 pp |
| FY 2018 Q4 | Dec 31, 2018 | 9.97% | 8.53% | — | 12.21% | 3.43% | 2.3 pp |
| FY 2018 Q3 | Sep 30, 2018 | — | 3.33% | — | -5.39% | -1.61% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 2.88% | — | -6.65% | -1.85% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | 2.51% | — | -5.4% | -1.32% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | 1.96% | — | -2.53% | -0.38% | — |
| FY 2017 Q3 | Sep 30, 2017 | — | 4.12% | — | -7.43% | -2.13% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | 4.1% | — | -6.76% | -2.02% | — |
| FY 2017 Q1 | Mar 31, 2017 | — | 4.02% | — | -7.76% | -2.26% | — |
| FY 2016 Q4 | Dec 31, 2016 | — | 3.93% | — | -11.77% | -3.33% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | — | — | -3.59% | -1.04% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | — | — | -4.54% | -1.39% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | — | — | -4.66% | -1.39% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 1.99% | — | -3.21% | -0.87% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | — | — | 3.89% | 1.46% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | — | — | 5.08% | 1.76% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | — | — | 5.43% | 1.8% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | — | — | 2.16% | 0.73% | — |
| FY 2014 Q3 | Sep 30, 2014 | — | — | — | -17.67% | -5.92% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | — | — | -19.25% | -6.29% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | — | — | -21.07% | -6.9% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | — | — | -19.21% | -6.02% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | — | — | 2.23% | 0.75% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | — | — | 0.97% | 0.33% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | — | — | 1.78% | 0.61% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | — | — | 1.41% | 0.48% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | — | — | -1.7% | -0.61% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | — | — | 0.5% | 0.18% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | 2.75% | 0.98% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | — | — | 4.45% | 1.54% | — |
| FY 2011 Q3 | Sep 30, 2011 | — | — | — | 7.5% | 2.72% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | — | — | 6.72% | 2.41% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | 5.56% | 1.95% | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | 1.95% | 0.65% | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | -2.11% | -0.73% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | -2.08% | -0.71% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 19, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · HWM, USD. Latest completed close Oct 22, 2026. Price data retrieved Oct 23, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.