Evolent Health (EVH) Return on Invested Capital [ROIC] (2021 - 2026)
Evolent Health's Return on Invested Capital [ROIC] came in at -31.44% for Q2 2026, down 29.29 percentage points from -2.15% a year earlier and down 1.07 percentage points from the prior quarter.
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Analysis
Evolent Health (EVH) Return on Invested Capital [ROIC] (2021 - 2026) Analysis & Trends
For FY2025, Evolent Health's Return on Invested Capital [ROIC] was -26.90%, down 24.52 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of -2.42 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was -2.38% in FY2024 (+0.33 pp), -2.71% in FY2023 (-2.81 pp), 0.10% in FY2022 (+4.76 pp) and -4.66% in FY2021 (+19.81 pp).
- The Q2 2026 figure represents the lowest quarterly Return on Invested Capital [ROIC] in data going back to Q1 2021.
- Year-over-year, Return on Invested Capital [ROIC] has declined for three consecutive quarters, with an average year-over-year change of -9.74 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q1 2022 (a gain of 25.43 percentage points), and the weakest in Q2 2026 (a drop of 29.29 percentage points).
- Business Quant data shows EVH's Return on Invested Capital [ROIC] at -30.37% (Q1 2026), -24.94% (Q4 2025) and -1.13% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 93.08 Bn | 92.52 Bn | - | 22.01% |
| 2 | Natera | 58.93 Bn | 54.61 Bn | 485.19 Mn | -11.74% |
| 3 | Quest Diagnostics | 25.75 Bn | 24.18 Bn | 1.03 Bn | 9.40% |
| 4 | Labcorp Holdings | 24.96 Bn | 22.73 Bn | 1.11 Bn | 8.25% |
| 5 | Guardant Health | 23.76 Bn | 19.82 Bn | 219.03 Mn | - |
| 6 | Tenet Healthcare | 20.83 Bn | 11.98 Bn | - | 18.77% |
| 7 | Tempus AI | 13.43 Bn | 10.46 Bn | 246.50 Mn | -51.95% |
| 8 | BrightSpring Health Services | 11.90 Bn | 10.24 Bn | 492.75 Mn | 8.62% |
| 9 | Encompass Health | 11.82 Bn | 12.29 Bn | - | 15.40% |
| 10 | Evolent Health | 392.32 Mn | -133.97 Mn | 80.84 Mn | -31.44% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -31.44% |
| Mar 31, 2026 | -30.37% |
| Dec 31, 2025 | -24.94% |
| Sep 30, 2025 | -1.13% |
| Jun 30, 2025 | -2.15% |
| Mar 31, 2025 | -1.67% |
| Dec 31, 2024 | -2.40% |
| Sep 30, 2024 | -2.18% |
| Jun 30, 2024 | -2.15% |
| Mar 31, 2024 | -3.78% |
| Dec 31, 2023 | -2.36% |
| Sep 30, 2023 | -1.67% |
| Jun 30, 2023 | -0.43% |
| Mar 31, 2023 | -0.06% |
| Dec 31, 2022 | 0.09% |
| Sep 30, 2022 | -0.05% |
| Jun 30, 2022 | -2.93% |
| Mar 31, 2022 | -3.25% |
| Dec 31, 2021 | -4.83% |
| Sep 30, 2021 | -3.03% |
API Access
Evolent 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=EVH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "EVH", "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=EVH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();