Caledonia Mining (CMCL) Return on Invested Capital [ROIC] (2010 - 2026)
Caledonia Mining's Return on Invested Capital [ROIC] was 43.88% in the quarter ended Jun 30, 2026, up 7.16 percentage points from 36.72% a year earlier and up 0.18 percentage points from the prior quarter.
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Analysis
Caledonia Mining (CMCL) Return on Invested Capital [ROIC] (2010 - 2026) Analysis & Trends
For the year ended Dec 31, 2025, Return on Invested Capital [ROIC] at Caledonia Mining came in at 42.09%, up 24.30 percentage points from the prior year.
- Return on Invested Capital [ROIC] shows a five-year change of +11.68 percentage points (years ended Dec 2020 to Dec 2025).
- In earlier years, Return on Invested Capital [ROIC] was 17.80% in the year ended Dec 31, 2024 (+12.48 pp), 5.32% in the year ended Dec 31, 2023 (-4.28 pp), 9.60% in the year ended Dec 31, 2022 (-15.78 pp) and 25.38% in the year ended Dec 31, 2021 (-5.04 pp).
- The figure for the quarter ended Jun 30, 2026 marks the highest quarterly Return on Invested Capital [ROIC] in data going back to the quarter ended Jun 30, 2010.
- Compared with a year earlier, Return on Invested Capital [ROIC] has increased for three straight quarters, with an average year-over-year change of +17.39 percentage points over the last five quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was the quarter ended Mar 31, 2025 (a gain of 27.79 percentage points); the worst was the quarter ended Mar 31, 2023 (a drop of 21.71 percentage points).
- Per Business Quant data, CMCL's Return on Invested Capital [ROIC] in the three quarters before the quarter ended Jun 30, 2026 was 43.71% (quarter ended Mar 31, 2026), 39.28% (quarter ended Dec 31, 2025) and 34.62% (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 193.68 Bn | 159.81 Bn | - | - |
| 2 | Southern Copper | 171.36 Bn | 150.22 Bn | 2.90 Bn | - |
| 3 | Newmont | 121.76 Bn | 89.94 Bn | 4.03 Bn | 7.86% |
| 4 | Ternium | 113.51 Bn | 78.56 Bn | 941.02 Mn | 4.89% |
| 5 | Freeport-Mcmoran | 103.45 Bn | 99.60 Bn | 2.19 Bn | 11.56% |
| 6 | Agnico Eagle Mines | 91.92 Bn | 91.92 Bn | 2.43 Bn | 35.18% |
| 7 | Barrick Mining | 67.42 Bn | 52.16 Bn | 2.90 Bn | 29.31% |
| 8 | Nucor | 54.54 Bn | 45.08 Bn | 2.03 Bn | 11.01% |
| 9 | ArcelorMittal | 49.09 Bn | 30.12 Bn | - | 3.54% |
| 10 | Caledonia Mining | 463.70 Mn | 100.15 Mn | 39.18 Mn | 43.88% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 43.88% |
| Mar 31, 2026 | 43.71% |
| Dec 31, 2025 | 39.28% |
| Sep 30, 2025 | 34.62% |
| Jun 30, 2025 | 28.67% |
| Mar 31, 2025 | 22.53% |
| Dec 31, 2024 | 16.71% |
| Sep 30, 2024 | 11.06% |
| Jun 30, 2024 | 7.87% |
| Mar 31, 2024 | 3.22% |
| Dec 31, 2023 | 0.00% |
| Sep 30, 2023 | 0.83% |
| Jun 30, 2023 | 0.00% |
| Mar 31, 2023 | 2.70% |
| Dec 31, 2022 | 9.15% |
| Mar 31, 2022 | 24.41% |
| Dec 31, 2021 | 24.32% |
| Sep 30, 2021 | 24.90% |
| Jun 30, 2021 | 23.64% |
| Mar 31, 2021 | 24.56% |
API Access
Caledonia Mining Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=CMCL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "CMCL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=CMCL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();