BHP Group Limited (BHP): return on invested capital, 10 filed years
ROIC at BHP Group Limited was 19.6% in FY2025, the newest filed year. Across the 7 computed years from FY2019 it ranged from 15.0% (FY2020) to 52.2% (FY2022), with a median of 19.8%.
Tonight's figure on the company page: 19.6%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | ROIC | Read from |
|---|---|---|
| FY2016 No shareholders equity line is filed for this year. | n/a | 20-F, filed 2018-09-18 |
| FY2017 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 20-F, filed 2018-09-18 |
| FY2018 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 20-F, filed 2018-09-18 |
| FY2019 | 18.1% | 20-F, filed 2019-09-17 |
| FY2020 | 15.0% | 20-F, filed 2020-09-22 |
| FY2021 | 25.2% | 20-F, filed 2021-09-21 |
| FY2022 | 52.2% | 20-F, filed 2022-09-06 |
| FY2023 | 28.2% | 20-F, filed 2023-09-05 |
| FY2024 | 19.8% | 20-F, filed 2024-08-30 |
| FY2025 | 19.6% | 20-F, filed 2025-08-22 |
How each year is computed
Operating income x (1 - effective tax rate) / (equity + total debt - cash) x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.