What is Lithium Americas's return on invested capital?

Lithium Americas (LAC) reported return on invested capital of -18.3% in Q4 2025.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Lithium Americas LAC Return on invested capital

Return on invested capital at other companies

AlbemarleALB

-1.3%-0.6pp

Perpetua Resources Corp.PPTA

-145.1%+559pp

Ivanhoe ElectricIE

3.9%+2.0pp

Other financials

Income statement

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Net income$4.6M+140%

EPS (diluted)$0.00+100%

Balance sheet

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Cash & equivalents$758.5M+69.8%

Total debt$702.9M—

Total equity$1.3B+115%

Total assets$3.1B+206%

Cash flow

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Operating cash flow-$18.3M+3.1%

CapEx$299.3M+154%

Free cash flow-$317.6M-132%

Valuation

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Market cap$1.38B+150%

Enterprise value$1.33B—

Returns & leverage

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Return on equity-8.4%—

Debt / equity0.5×—

Current ratio7.4×-3.0×

Where this comes from

Calculated from Lithium Americas’s reported figures.

nopat/invested capital=-18.3%

Based on trailing twelve months.

The official record: Lithium Americas’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lithium Americas's return on invested capital?: Lithium Americas (LAC) reported return on invested capital of -18.3% in Q4 2025.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.