HCA Healthcare (HCA) Return on Invested Capital [ROIC] (2015 - 2026)
HCA Healthcare (HCA) recorded Return on Invested Capital [ROIC] of 22.01% in Q2 2026, up 2.38 percentage points from 19.63% a year earlier but down 0.54 percentage points from the prior quarter.
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Analysis
HCA Healthcare (HCA) Return on Invested Capital [ROIC] (2015 - 2026) Analysis & Trends
For FY2025, HCA Healthcare reported Return on Invested Capital [ROIC] of 22.75%, up 3.12 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has a five-year change of +5.85 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at 19.63% in FY2024 (+0.25 pp), 19.38% in FY2023 (-2.81 pp), 22.19% in FY2022 (-3.39 pp) and 25.59% in FY2021 (+8.68 pp).
- Quarterly Return on Invested Capital [ROIC] has ranged from 18.93% in Q4 2024 to 25.50% in Q4 2021 over the past five years.
- On a year-over-year basis, Return on Invested Capital [ROIC] has increased for five consecutive quarters, with an average year-over-year change of +1.22 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 8.70 percentage points in Q3 2021, against a drop of 5.10 percentage points in Q3 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 22.54% (Q1 2026), 23.09% (Q4 2025) and 21.12% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 106.13 Bn | 102.23 Bn | - | 21.76% |
| 2 | Natera | 44.93 Bn | 40.56 Bn | 513.47 Mn | -9.90% |
| 3 | Labcorp Holdings | 29.97 Bn | 28.06 Bn | 1.11 Bn | 8.45% |
| 4 | Quest Diagnostics | 28.09 Bn | 25.85 Bn | 1.04 Bn | 9.85% |
| 5 | Tenet Healthcare | 22.72 Bn | 12.03 Bn | - | 21.51% |
| 6 | Guardant Health | 20.11 Bn | 15.73 Bn | 236.15 Mn | - |
| 7 | BrightSpring Health Services | 13.90 Bn | 11.66 Bn | 518.55 Mn | 10.04% |
| 8 | Tempus AI | 13.80 Bn | 10.95 Bn | 266.70 Mn | -57.17% |
| 9 | Encompass Health | 13.52 Bn | 13.15 Bn | - | 15.62% |
| 10 | Davita | 12.21 Bn | 9.59 Bn | 1.13 Bn | 16.52% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 21.76% |
| Jun 30, 2026 | 21.18% |
| Mar 31, 2026 | 22.54% |
| Dec 31, 2025 | 23.09% |
| Sep 30, 2025 | 21.12% |
| Jun 30, 2025 | 19.63% |
| Mar 31, 2025 | 18.94% |
| Dec 31, 2024 | 18.93% |
| Sep 30, 2024 | 19.58% |
| Jun 30, 2024 | 19.56% |
| Mar 31, 2024 | 19.26% |
| Dec 31, 2023 | 18.97% |
| Sep 30, 2023 | 21.20% |
| Jun 30, 2023 | 21.47% |
| Mar 31, 2023 | 21.67% |
| Dec 31, 2022 | 21.94% |
| Sep 30, 2022 | 20.14% |
| Jun 30, 2022 | 22.69% |
| Mar 31, 2022 | 23.88% |
| Dec 31, 2021 | 25.50% |
API Access
HCA Healthcare 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=HCA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "HCA", "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=HCA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();