Voya Financial (VOYA) Return on Invested Capital [ROIC] (2012 - 2026)
Voya Financial's Return on Invested Capital [ROIC] came in at 21.33% for Q3 2026, up 0.13 percentage points from 21.19% a year earlier and up 1.79 percentage points from the prior quarter.
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Analysis
Voya Financial (VOYA) Return on Invested Capital [ROIC] (2012 - 2026) Analysis & Trends
For FY2025, Voya Financial's Return on Invested Capital [ROIC] was 20.71%, down 1.98 percentage points from FY2024.
- Return on Invested Capital [ROIC] carries a five-year change of +8.79 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 22.69% in FY2024 (-3.97 pp), 26.66% in FY2023 (+10.80 pp), 15.86% in FY2022 (+28.29 pp) and -12.43% in FY2021 (-24.35 pp).
- The Q3 2026 figure represents the highest quarterly Return on Invested Capital [ROIC] since Q3 2024.
- Year-over-year, Return on Invested Capital [ROIC] has increased for three consecutive quarters, with an average year-over-year change of -2.55 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 31.50 percentage points), and the weakest in Q3 2022 (a drop of 32.36 percentage points).
- Business Quant data shows VOYA's Return on Invested Capital [ROIC] at 19.54% (Q2 2026), 20.28% (Q1 2026) and 20.38% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 189.07 Bn | 145.60 Bn | - | 9.65% |
| 2 | Spdr Gold Trust | 125.11 Bn | -432.90 Bn | - | - |
| 3 | Brookfield | 101.47 Bn | -96.66 Bn | - | - |
| 4 | Blackstone | 91.35 Bn | 85.56 Bn | - | 21.77% |
| 5 | Kkr | 87.89 Bn | 54.59 Bn | 1.76 Bn | -4.58% |
| 6 | Brookfield Asset Management | 82.34 Bn | 77.22 Bn | - | 39.58% |
| 7 | Apollo Global Management | 72.94 Bn | 89.74 Bn | 4.14 Bn | 1.14% |
| 8 | Wheaton Precious Metals | 59.70 Bn | 59.70 Bn | 538.50 Mn | 22.20% |
| 9 | Ares Management | 48.49 Bn | 47.07 Bn | 376.28 Mn | -19.43% |
| 10 | Voya Financial | 9.16 Bn | 12.01 Bn | 1.51 Bn | 21.33% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 21.33% |
| Jun 30, 2026 | 19.54% |
| Mar 31, 2026 | 20.28% |
| Dec 31, 2025 | 20.38% |
| Sep 30, 2025 | 21.19% |
| Jun 30, 2025 | 19.52% |
| Mar 31, 2025 | 19.91% |
| Dec 31, 2024 | 20.78% |
| Sep 30, 2024 | 21.70% |
| Jun 30, 2024 | 26.15% |
| Mar 31, 2024 | 26.69% |
| Dec 31, 2023 | 27.35% |
| Sep 30, 2023 | 27.03% |
| Jun 30, 2023 | 21.36% |
| Mar 31, 2023 | 21.08% |
| Dec 31, 2022 | 21.10% |
| Sep 30, 2022 | 14.41% |
| Jun 30, 2022 | 17.05% |
| Mar 31, 2022 | 21.05% |
| Dec 31, 2021 | 43.27% |
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();