Voya Financial (VOYA) Return on Invested Capital [ROIC] (2013 - 2026)
Voya Financial's Return on Invested Capital [ROIC] came in at -15.19% for Q2 2026, up 5.56 percentage points from -20.75% a year earlier but down 1.81 percentage points from the prior quarter.
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Analysis
Voya Financial (VOYA) Return on Invested Capital [ROIC] (2013 - 2026) Analysis & Trends
For FY2025, Voya Financial's Return on Invested Capital [ROIC] was -14.76%, up 6.12 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of +4.22 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was -20.87% in FY2024 (-3.83 pp), -17.05% in FY2023 (-5.27 pp), -11.77% in FY2022 (+0.65 pp) and -12.43% in FY2021 (+6.55 pp).
- The five-year range for quarterly Return on Invested Capital [ROIC] is -20.75% (Q2 2025) to 31.56% (Q4 2021).
- Year-over-year, Return on Invested Capital [ROIC] has increased for four consecutive quarters, with an average year-over-year change of +0.95 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q4 2021 (a gain of 50.30 percentage points), and the weakest in Q4 2022 (a drop of 46.75 percentage points).
- Business Quant data shows VOYA's Return on Invested Capital [ROIC] at -13.38% (Q1 2026), -14.20% (Q4 2025) and -16.82% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 164.13 Bn | 110.49 Bn | - | - |
| 2 | Spdr Gold Trust | 133.82 Bn | -424.18 Bn | - | - |
| 3 | Blackstone | 84.08 Bn | 79.01 Bn | - | 21.55% |
| 4 | Brookfield | 82.97 Bn | -82.41 Bn | 4.47 Bn | -21.34% |
| 5 | Kkr | 81.05 Bn | 47.53 Bn | - | - |
| 6 | Brookfield Asset Management | 71.64 Bn | 67.88 Bn | - | 26.84% |
| 7 | Apollo Global Management | 65.67 Bn | 3.35 Bn | 10.56 Bn | - |
| 8 | Wheaton Precious Metals | 61.89 Bn | 57.32 Bn | 687.86 Mn | 20.60% |
| 9 | Franco Nevada | 46.13 Bn | 43.49 Bn | 451.00 Mn | - |
| 10 | Voya Financial | 8.76 Bn | 8.33 Bn | 1.34 Bn | -15.19% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -15.19% |
| Mar 31, 2026 | -13.38% |
| Dec 31, 2025 | -14.20% |
| Sep 30, 2025 | -16.82% |
| Jun 30, 2025 | -20.75% |
| Mar 31, 2025 | -20.46% |
| Dec 31, 2024 | -19.77% |
| Sep 30, 2024 | -18.69% |
| Jun 30, 2024 | -17.68% |
| Mar 31, 2024 | -15.61% |
| Dec 31, 2023 | -17.26% |
| Sep 30, 2023 | -16.67% |
| Jun 30, 2023 | -14.38% |
| Mar 31, 2023 | -16.43% |
| Dec 31, 2022 | -15.19% |
| Sep 30, 2022 | -10.99% |
| Jun 30, 2022 | -7.94% |
| Mar 31, 2022 | 1.30% |
| Dec 31, 2021 | 31.56% |
| Sep 30, 2021 | 28.96% |
API Access
Voya Financial 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=VOYA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "VOYA", "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=VOYA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();