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 | 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 | Davita | 11.43 Bn | 10.20 Bn | 1.16 Bn | 16.98% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.01% |
| 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% |
| Sep 30, 2021 | 25.24% |
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();