Surgery Partners' historical ROCE trend doesn't indicate potential for future multi-bagger status. Persistent low return on capital from its investments makes it unlikely to be a multi-bagger.

Surgery Partners' high P/S ratio, despite industry-standard revenue forecasts, could risk shareholders' investments and potential investors may pay an unnecessary premium. This may be due to bullish sentiment, which could lead to disappointment if the P/S falls in line with the growth outlook.

Given Surgery Partners' current ROCE trends, it is not seen as a potential high-yield investment. Despite the stock's impressive performance in past years, if current underlying trends continue, the odds of it being a multi-bagger from here is slim.