Pulmonx (LUNG) Return on Invested Capital [ROIC] (2020 - 2025)
Pulmonx's Return on Invested Capital [ROIC] was -56.23% in Q3 2025, down 13.04 percentage points from -43.19% a year earlier and down 4.74 percentage points from the prior quarter.
Powered by 
Analysis
Pulmonx (LUNG) Return on Invested Capital [ROIC] (2020 - 2025) Analysis & Trends
For FY2024, Return on Invested Capital [ROIC] at Pulmonx came in at -41.43%, down 3.55 percentage points from FY2023.
- Return on Invested Capital [ROIC] has now declined for three consecutive years, though with a four-year change of +50.26 percentage points (FY2020 to FY2024).
- In earlier years, Return on Invested Capital [ROIC] was -37.88% in FY2023 (-7.20 pp), -30.69% in FY2022 (-9.83 pp), -20.85% in FY2021 (+70.84 pp) and -91.69% in FY2020.
- The Q3 2025 figure marks the lowest quarterly Return on Invested Capital [ROIC] since Q4 2020.
- Compared with a year earlier, Return on Invested Capital [ROIC] has declined for 15 straight quarters, with an average year-over-year change of -7.80 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q4 2021 (a gain of 100.46 percentage points); the worst was Q3 2025 (a drop of 13.04 percentage points).
- Per Business Quant data, LUNG's Return on Invested Capital [ROIC] in the three quarters before Q3 2025 was -51.49% (Q2 2025), -48.54% (Q1 2025) and -45.41% (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 242.18 Bn | 221.33 Bn | 4.88 Bn | 7.89% |
| 2 | Abbott Laboratories | 168.71 Bn | 139.79 Bn | 7.27 Bn | 6.20% |
| 3 | Danaher | 150.46 Bn | 134.27 Bn | 3.61 Bn | 5.71% |
| 4 | Intuitive Surgical | 138.71 Bn | 118.26 Bn | 1.96 Bn | - |
| 5 | Medtronic | 110.54 Bn | 76.41 Bn | 6.34 Bn | 6.90% |
| 6 | Stryker | 105.66 Bn | 91.78 Bn | 4.50 Bn | 10.46% |
| 7 | Boston Scientific | 61.74 Bn | 56.75 Bn | 3.85 Bn | 10.53% |
| 8 | Edwards Lifesciences | 49.09 Bn | 33.21 Bn | 1.35 Bn | 8.99% |
| 9 | Becton Dickinson | 48.16 Bn | 45.31 Bn | 2.32 Bn | 5.27% |
| 10 | Pulmonx | 76.26 Mn | -242.96 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | -56.23% |
| Jun 30, 2025 | -51.49% |
| Mar 31, 2025 | -48.54% |
| Dec 31, 2024 | -45.41% |
| Sep 30, 2024 | -43.19% |
| Jun 30, 2024 | -41.42% |
| Mar 31, 2024 | -39.61% |
| Dec 31, 2023 | -38.89% |
| Sep 30, 2023 | -37.49% |
| Jun 30, 2023 | -34.85% |
| Mar 31, 2023 | -33.67% |
| Dec 31, 2022 | -33.29% |
| Sep 30, 2022 | -30.44% |
| Jun 30, 2022 | -26.83% |
| Mar 31, 2022 | -24.60% |
| Dec 31, 2021 | -21.98% |
| Sep 30, 2021 | -19.89% |
| Jun 30, 2021 | -17.39% |
| Mar 31, 2021 | -16.27% |
| Dec 31, 2020 | -122.44% |
API Access
Pulmonx 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=LUNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "LUNG", "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=LUNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();