American Well Corporation (AMWL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 7, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AMWL SEC filings page.
American Well Corporation (AMWL) reported $218.5M in revenue over the twelve months to Jun 30, 2026, down 19.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Nearly flat sales now carry a much wider gross margin, but the business still converts that improvement into operating cash outflow.
From FY2024 to FY2025, revenue slipped while gross margin expanded from38.9% to53.3% , indicating that lower delivery costs, rather than volume growth, drove the improvement. Free cash flow nearly matched operating cash flow at-$66.0M , while capital expenditures were only$21K ; the reported cash use therefore reflects ongoing operations more than reinvestment.
The net loss narrowed from
The balance sheet became smaller but less burdened: total liabilities declined to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of American Well Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
American Well Corporation has an operating margin of -42.2%, meaning the company loses $42 on every $100 of revenue. This results in a profitability score of 16/100. This is up from -85.5% the prior year.
American Well Corporation's revenue declined 2.0% year-over-year, from $254.4M to $249.3M. This contraction results in a growth score of 24/100.
American Well Corporation carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.37, American Well Corporation holds $3.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 83/100.
American Well Corporation's operations used $66.0M of cash, and capex of $21K added to the outflow, for a free cash flow shortfall of $66.0M. This results in a cash flow score of 6/100.
American Well Corporation posts a -40.6% return on equity (ROE), meaning it loses $41 for every $100 of shareholders' equity. This results in a returns score of 15/100. This is up from -68.3% the prior year.
American Well Corporation scores -6.88, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($215.0M) relative to total liabilities ($76.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
American Well Corporation passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
American Well Corporation reported a net loss of $95.7M while operations used $66.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
American Well Corporation reported an operating loss of $105.3M against $5.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
American Well Corporation generated $52.0M in revenue in Q2 2026. This represents a decrease of 26.6% from the same quarter a year earlier. Against the prior quarter it is down 5.2%.
American Well Corporation's EBITDA was -$2.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 79.1% from the same quarter a year earlier. Against the prior quarter it is up 74.2%.
American Well Corporation reported -$9.9M in net income in Q2 2026. This represents an increase of 49.6% from the same quarter a year earlier. Against the prior quarter it is up 8.8%.
American Well Corporation earned -$0.59 per diluted share (EPS) in Q2 2026. This represents an increase of 52.4% from the same quarter a year earlier. Against the prior quarter it is up 10.6%.
Cash & Balance Sheet
American Well Corporation generated $10.7M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 326.7% from the same quarter a year earlier. Against the prior quarter it is up 1183.9%.
American Well Corporation held $195.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
American Well Corporation's gross margin was 52.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 3.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.0 percentage points.
American Well Corporation's operating margin was -18.4% in Q2 2026, reflecting core business profitability. This is up 10.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.4 percentage points.
American Well Corporation's net profit margin was -19.1% in Q2 2026, showing the share of revenue converted to profit. This is up 8.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.
American Well Corporation's ROE was -4.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.
Capital Allocation
American Well Corporation invested $10.4M in research and development in Q2 2026. This represents a decrease of 43.2% from the same quarter a year earlier. Against the prior quarter it is down 16.4%.
American Well Corporation repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
American Well Corporation invested $8K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 60.0%.
AMWL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $52.0M-26.6% | $54.9M-17.9% | $55.3M-22.1% | $56.3M-7.8% | $70.9M+12.9% | $66.8M+12.3% | $71.0M+0.5% | $61.0M-1.4% |
| Cost of Revenue | $24.5M-21.4% | $26.9M-14.7% | $27.0M-26.3% | $26.8M-30.2% | $31.1M-20.7% | $31.6M-23.3% | $36.6M-21.8% | $38.4M-5.2% |
| Gross Profit | $27.6M-30.7% | $28.0M-20.7% | $28.3M-17.6% | $29.5M+30.0% | $39.8M+69.2% | $35.3M+91.9% | $34.4M+44.2% | $22.7M+5.7% |
| R&D Expenses | $10.4M-43.2% | $12.4M-44.0% | $13.9M-25.8% | $18.6M-6.1% | $18.2M-12.3% | $22.1M-17.2% | $18.8M-28.7% | $19.8M-28.6% |
| SG&A Expenses | $13.9M-34.3% | $17.7M-23.7% | $22.0M-36.8% | $21.7M-13.7% | $21.2M-25.7% | $23.2M-29.2% | $34.8M+42.6% | $25.2M-14.8% |
| Operating Income | -$9.6M+53.1% | -$17.4M+42.7% | -$25.2M+41.2% | -$29.3M+38.1% | -$20.4M+61.1% | -$30.4M+59.5% | -$42.8M+24.9% | -$47.4M+67.0% |
| EBITDA | -$2.5M+79.1% | -$9.8M+56.5% | -$16.7M+51.8% | -$19.9M+49.1% | -$12.2M+72.5% | -$22.6M+66.2% | -$34.5M+29.0% | -$39.1M+71.1% |
| Interest Expense | $617K-55.1% | $976K-37.6% | $1.1M-45.8% | $1.2M-56.9% | $1.4M-58.3% | $1.6M-58.8% | $2.0M | $2.7M-24.1% |
| Income Tax | -$548K+24.4% | $217K-61.8% | -$626K-141.0% | $1.2M+916.8% | -$725K-847.4% | $568K-55.5% | $1.5M+179.3% | -$149K-113.3% |
| Net Income | -$9.9M+49.6% | -$10.9M+41.8% | -$24.9M+41.6% | -$32.4M+25.5% | -$19.7M+60.5% | -$18.7M+74.1% | -$42.7M+12.2% | -$43.5M+68.1% |
| EPS (Basic) | -$0.59+52.4% | -$0.66+44.5% | -$1.52+44.7% | -$2.00+30.3% | -$1.24+63.1% | -$1.19+75.9% | -$2.75+14.6% | -$2.87+69.9% |
| EPS (Diluted) | -$0.59+52.4% | -$0.66+44.5% | -$1.52+44.7% | -$2.00+30.3% | -$1.24+63.1% | -$1.19 | -$2.75 | -$2.87 |
| Diluted Shares (Avg) | 17M+5.5% | 17M+5.9% | N/A | 16M+7.1% | 16M+6.8% | 16M | N/A | 15M |
AMWL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $327.2M-15.8% | $326.0M-22.3% | $323.8M-25.7% | $359.4M-25.6% | $388.7M-23.5% | $419.5M-23.5% | $436.0M-26.1% | $483.0M-23.9% |
| Current Assets | $264.7M-8.6% | $259.1M-16.8% | $246.7M-22.2% | $271.2M-24.0% | $289.7M-23.4% | $311.5M-24.8% | $317.0M-29.5% | $356.9M-27.0% |
| Cash & Equivalents | $195.9M-10.6% | $179.2M-19.4% | $182.3M-20.1% | $200.9M-17.9% | $219.1M-20.9% | $222.4M-27.9% | $228.3M-38.6% | $244.6M-23.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% |
| Inventory | $964K-55.9% | $1.1M-54.6% | $1.2M-58.5% | $1.8M-61.7% | $2.2M-60.8% | $2.5M-61.5% | $2.9M-57.0% | $4.8M-39.2% |
| Accounts Receivable | $52.6M-1.8% | $57.1M-20.7% | $49.7M-30.9% | $55.6M-37.7% | $53.6M-29.6% | $72.0M-10.8% | $71.9M+32.8% | $89.3M+91.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | $0 | N/A |
| Total Liabilities | $92.9M-1.3% | $85.8M-24.5% | $76.0M-36.5% | $92.1M-30.7% | $94.1M-27.6% | $113.7M-9.1% | $119.7M+9.3% | $132.9M+15.3% |
| Current Liabilities | $91.3M+3.8% | $83.8M-21.5% | $73.2M-34.2% | $86.5M-29.2% | $87.9M-25.4% | $106.7M-1.6% | $111.3M+18.6% | $122.2M+23.8% |
| Non-Current Liabilities | $1.6M-73.9% | $2.1M-70.3% | $2.8M-67.1% | $5.6M-48.2% | $6.2M-48.8% | $7.0M-58.0% | $8.5M-46.2% | $10.8M-35.3% |
| Total Equity | $221.2M-21.7% | $227.3M-22.7% | $235.6M-22.7% | $254.9M-24.3% | $282.6M-22.3% | $294.0M-28.1% | $304.8M-34.3% | $336.7M-33.0% |
| Retained Earnings | -$2.1B-3.9% | -$2.1B-4.4% | -$2.1B-4.9% | -$2.0B-5.9% | -$2.0B-6.6% | -$2.0B-8.5% | -$2.0B-11.8% | -$1.9B-12.5% |
Not reported in any period shown, so not listed: Long-Term Debt.
AMWL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.7M+326.9% | -$983K+96.1% | -$17.4M-29.2% | -$18.8M+42.0% | -$4.7M+78.3% | -$25.1M+58.0% | -$13.4M+67.7% | -$32.4M+14.8% |
| Depreciation & Amortization | $7.0M-14.6% | $7.6M-2.7% | $8.5M+3.5% | $9.4M+13.6% | $8.2M+0.1% | $7.8M-5.3% | $8.2M-1.1% | $8.3M+0.6% |
| Stock-Based Compensation | $2.0M-64.2% | $2.3M-68.6% | N/A | $4.0M-62.0% | $5.7M-42.4% | $7.3M-54.8% | N/A | $10.6M-37.3% |
| Capital Expenditures | $8K | $5K-44.4% | $12K+300.0% | $0-100.0% | $0-100.0% | $9K-88.0% | $3K-96.9% | $15K-75.0% |
| Free Cash Flow | $10.7M+326.7% | -$988K+96.1% | -$17.4M-29.2% | -$18.8M+42.0% | -$4.7M+78.3% | -$25.1M+58.0% | -$13.4M+67.8% | -$32.4M+14.9% |
| Investing Cash Flow | $4.2M | -$2.8M-114.4% | -$2.3M+44.6% | $0+100.0% | $0+100.0% | $19.4M+520.8% | -$4.1M-104.4% | -$4.7M-102.4% |
| Financing Cash Flow | $0+100.0% | $303K-44.2% | -$1K+50.0% | $299K-30.0% | -$1K | $543K-43.2% | -$2K | $427K-52.3% |
| Share Buybacks | $0-100.0% | $0-100.0% | $1K-50.0% | $1K0.0% | $1K | $1K | $2K | $1K |
Not reported in any period shown, so not listed: Dividends Paid.
AMWL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.9%-3.1pp | 50.9%-1.8pp | 51.2%+2.8pp | 52.4%+15.2pp | 56.1%+18.6pp | 52.8%+21.9pp | 48.4%+14.7pp | 37.2%+2.5pp |
| Operating Margin | -18.4%+10.4pp | -31.8%+13.8pp | -45.5%+14.7pp | -52.1%+25.5pp | -28.7%+54.7pp | -45.5% | -60.2%+20.4pp | -77.6% |
| Net Margin | -19.1%+8.7pp | -19.8%+8.2pp | -45.1%+15.0pp | -57.5%+13.7pp | -27.8%+51.7pp | -28.0% | -60.1%+8.7pp | -71.2% |
| Return on Equity | -4.5%+2.5pp | -4.8%+1.6pp | -10.6%+3.4pp | -12.7%+0.2pp | -7.0%+6.7pp | -6.4%+11.3pp | -14.0%-3.5pp | -12.9%+14.3pp |
| Return on Assets | -3.0%+2.0pp | -3.3%+1.1pp | -7.7%+2.1pp | -9.0%0.0pp | -5.1%+4.8pp | -4.5%+8.7pp | -9.8%-1.5pp | -9.0%+12.5pp |
| Current Ratio | 2.90-0.4x | 3.09+0.2x | 3.37+0.5x | 3.14+0.2x | 3.29+0.1x | 2.92-0.9x | 2.85-1.9x | 2.92-2.0x |
| Debt-to-Equity | 0.42+0.1x | 0.380.0x | 0.32-0.1x | 0.360.0x | 0.330.0x | 0.39+0.1x | 0.39+0.2x | 0.39+0.2x |
| Asset Turnover | 0.160.0x | 0.170.0x | 0.170.0x | 0.160.0x | 0.18+0.1x | 0.16+0.1x | 0.160.0x | 0.130.0x |
| FCF Margin | 20.6%+27.2pp | -1.8%+35.8pp | -31.4%-12.5pp | -33.3%+19.7pp | -6.7%+28.1pp | -37.6% | -18.9%+40.0pp | -53.0%+8.4pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| American Well Corporation AMWL | FY2025 | $249.3M | -$95.7M | -38.4% | $215.0M | 35/100 |
| CareCloud, Inc. CCLD | FY2025 | $120.5M | $11K | 0.0% | $88.0M | 46/100 |
| Forian Inc. FORA | FY2025 | $30.3M | -$2.9M | -9.5% | $67.8M | 55/100 |
| Health Catalyst, Inc HCAT | FY2025 | $311.1M | -$178.0M | -57.2% | $133.2M | 38/100 |
| SOPHiA GENETICS SA SOPH | FY2025 | $77.3M | -$79.0M | N/A | $628.2M | 31/100 |
| Mobile-health Network Solutions MNDR | FY2025 | $7.6M | -$3.4M | -44.3% | $1.4M | 20/100 |
Where American Well Corporation Ranks
Frequently Asked Questions
What is American Well Corporation's annual revenue?
American Well Corporation (AMWL) reported $249.3M in total revenue for fiscal year 2025. This represents a -2.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is American Well Corporation's revenue growing?
American Well Corporation (AMWL) revenue declined by 2.0% year-over-year, from $254.4M to $249.3M in fiscal year 2025.
Is American Well Corporation profitable?
No, American Well Corporation (AMWL) reported a net income of -$95.7M in fiscal year 2025, with a net profit margin of -38.4%.
What is American Well Corporation's EBITDA?
American Well Corporation (AMWL) had EBITDA of -$71.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is American Well Corporation's gross margin?
American Well Corporation (AMWL) had a gross margin of 53.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is American Well Corporation's operating margin?
American Well Corporation (AMWL) had an operating margin of -42.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is American Well Corporation's net profit margin?
American Well Corporation (AMWL) had a net profit margin of -38.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is American Well Corporation's return on equity (ROE)?
American Well Corporation (AMWL) has a return on equity of -40.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is American Well Corporation's free cash flow?
American Well Corporation (AMWL) recorded an outflow of $66.0M in free cash flow during fiscal year 2025. This represents a 48.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is American Well Corporation's operating cash flow?
American Well Corporation (AMWL) recorded an outflow of $66.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are American Well Corporation's total assets?
American Well Corporation (AMWL) had $323.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are American Well Corporation's capital expenditures?
American Well Corporation (AMWL) invested $21K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does American Well Corporation spend on research and development?
American Well Corporation (AMWL) invested $72.9M in research and development during fiscal year 2025.
What is American Well Corporation's current ratio?
American Well Corporation (AMWL) had a current ratio of 3.37 as of fiscal year 2025, which is generally considered healthy.
What is American Well Corporation's debt-to-equity ratio?
American Well Corporation (AMWL) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is American Well Corporation's return on assets (ROA)?
American Well Corporation (AMWL) had a return on assets of -29.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is American Well Corporation's P/E ratio?
American Well Corporation (AMWL) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $215.0M as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is American Well Corporation's price-to-sales ratio?
American Well Corporation (AMWL) trades at 1.0x sales, its market capitalization divided by revenue of $218.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $215.0M as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does American Well Corporation's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, American Well Corporation (AMWL) held $182.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $66.0M over that year. Dividing the one by the other, the reported balance equals about 33 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is American Well Corporation's Altman Z-Score?
American Well Corporation (AMWL) has an Altman Z-Score of -6.88, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is American Well Corporation's Piotroski F-Score?
American Well Corporation (AMWL) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are American Well Corporation's earnings high quality?
American Well Corporation (AMWL) reported a net loss of $95.7M while operations used $66.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can American Well Corporation cover its interest payments?
American Well Corporation (AMWL) reported an operating loss of $105.3M against $5.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is American Well Corporation?
American Well Corporation (AMWL) scores 35 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.