Tenet Healthcare (THC) Return on Invested Capital [ROIC] (2010 - 2026)
Tenet Healthcare's Return on Invested Capital [ROIC] came in at 18.77% for Q2 2026, up 3.10 percentage points from 15.67% a year earlier and up 2.24 percentage points from the prior quarter.
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Analysis
Tenet Healthcare (THC) Return on Invested Capital [ROIC] (2010 - 2026) Analysis & Trends
For FY2025, Tenet Healthcare's Return on Invested Capital [ROIC] was 15.53%, down 9.32 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of +3.04 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 24.86% in FY2024 (+13.44 pp), 11.41% in FY2023 (+1.56 pp), 9.85% in FY2022 (-3.22 pp) and 13.07% in FY2021 (+0.58 pp).
- The Q2 2026 figure represents the highest quarterly Return on Invested Capital [ROIC] since Q4 2024.
- Year-over-year, Return on Invested Capital [ROIC] increased in four of the last eight quarters, with an average year-over-year change of -0.15 percentage points.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q3 2024 (a gain of 14.72 percentage points), and the weakest in Q3 2025 (a drop of 9.74 percentage points).
- Business Quant data shows THC's Return on Invested Capital [ROIC] at 16.53% (Q1 2026), 15.54% (Q4 2025) and 15.29% (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 | Davita | 11.43 Bn | 10.20 Bn | 1.16 Bn | 16.98% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.77% |
| Mar 31, 2026 | 16.53% |
| Dec 31, 2025 | 15.54% |
| Sep 30, 2025 | 15.29% |
| Jun 30, 2025 | 15.67% |
| Mar 31, 2025 | 15.26% |
| Dec 31, 2024 | 24.74% |
| Sep 30, 2024 | 25.03% |
| Jun 30, 2024 | 23.31% |
| Mar 31, 2024 | 22.39% |
| Dec 31, 2023 | 11.29% |
| Sep 30, 2023 | 10.31% |
| Jun 30, 2023 | 10.27% |
| Mar 31, 2023 | 9.82% |
| Dec 31, 2022 | 9.88% |
| Sep 30, 2022 | 10.82% |
| Jun 30, 2022 | 13.02% |
| Mar 31, 2022 | 13.30% |
| Dec 31, 2021 | 13.42% |
| Sep 30, 2021 | 14.89% |
API Access
Tenet 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=THC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "THC", "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=THC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();