Elevance Health (ELV) Return on Invested Capital [ROIC] (2009 - 2026)
Elevance Health's Return on Invested Capital [ROIC] came in at -153.19% for Q3 2026, down 11.65 percentage points from -141.53% a year earlier but up 5.63 percentage points from the prior quarter.
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Analysis
Elevance Health (ELV) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Elevance Health's Return on Invested Capital [ROIC] was -160.55%, down 28.75 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of -46.34 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was -131.79% in FY2024 (+13.13 pp), -144.93% in FY2023 (-3.67 pp), -141.25% in FY2022 (-11.81 pp) and -129.44% in FY2021 (-15.23 pp).
- The five-year range for quarterly Return on Invested Capital [ROIC] is -158.82% (Q2 2026) to -123.53% (Q4 2021).
- Year-over-year, Return on Invested Capital [ROIC] has declined for six consecutive quarters, with an average year-over-year change of -11.30 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q4 2024 (a gain of 15.77 percentage points), and the weakest in Q4 2025 (a drop of 31.00 percentage points).
- Business Quant data shows ELV's Return on Invested Capital [ROIC] at -158.82% (Q2 2026), -157.78% (Q1 2026) and -156.83% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Unitedhealth | 356.05 Bn | 236.68 Bn | 35.71 Bn | 11.34% |
| 2 | Mckesson | 123.13 Bn | 104.51 Bn | 3.96 Bn | 98.69% |
| 3 | Cvs Health | 109.04 Bn | 57.80 Bn | 47.21 Bn | 9.71% |
| 4 | Elevance Health | 90.56 Bn | -52.02 Bn | 13.65 Bn | 8.29% |
| 5 | Cigna | 77.41 Bn | 46.27 Bn | 15.09 Bn | 10.38% |
| 6 | Cencora | 66.63 Bn | 55.53 Bn | 3.61 Bn | 14.39% |
| 7 | Cardinal Health | 63.51 Bn | 46.67 Bn | 2.60 Bn | 36.52% |
| 8 | Humana | 50.79 Bn | -37.07 Bn | 5.50 Bn | 6.65% |
| 9 | Centene | 33.94 Bn | -60.76 Bn | 9.52 Bn | 2.00% |
| 10 | Molina Healthcare | 10.37 Bn | -24.63 Bn | 1.36 Bn | 2.17% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 8.29% |
| Jun 30, 2026 | 8.11% |
| Mar 31, 2026 | 8.46% |
| Dec 31, 2025 | 8.99% |
| Sep 30, 2025 | 8.79% |
| Jun 30, 2025 | 8.66% |
| Mar 31, 2025 | 9.45% |
| Dec 31, 2024 | 9.56% |
| Sep 30, 2024 | 10.27% |
| Jun 30, 2024 | 10.95% |
| Mar 31, 2024 | 10.70% |
| Dec 31, 2023 | 10.62% |
| Sep 30, 2023 | 10.75% |
| Jun 30, 2023 | 11.19% |
| Mar 31, 2023 | 11.04% |
| Dec 31, 2022 | 10.89% |
| Sep 30, 2022 | 11.44% |
| Jun 30, 2022 | 11.31% |
| Mar 31, 2022 | 11.62% |
| Dec 31, 2021 | 11.49% |
API Access
Elevance Health 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=ELV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "ELV", "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=ELV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();