Avantor, Inc. (AVTR) 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 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2026, filed Apr 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AVTR SEC filings page.
Avantor, Inc. (AVTR) reported $6.6B in revenue over the twelve months to Mar 31, 2026, down 2.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
Avantor’s 2025 accounting loss masks positive cash generation, while weaker margins and renewed borrowing show a less efficient operating model.
The key earnings-quality split is that FY2025 produced operating cash flow of$624M despite a net loss of$530M , so the reported loss did not represent an equivalent cash drain that year. However, cash generation weakened from$841M in FY2024 to$624M , showing that positive cash flow did not prevent underlying earnings power from deteriorating.
Debt-to-equity fell from 1.7x in FY2021 to 0.5x in FY2024, making the balance sheet far less debt-dependent than earlier. The ratio then rose to 0.7x in FY2025 alongside a current ratio of 1.8x, indicating renewed borrowing without the same short-term liquidity pressure.
Gross margin slipped from
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 Avantor, Inc.'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.
Avantor, Inc. has an operating margin of -3.8%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 43/100. This is down from 16.0% the prior year.
Avantor, Inc.'s revenue declined 3.4% year-over-year, from $6.8B to $6.6B. This contraction results in a growth score of 21/100.
Avantor, Inc. has elevated debt relative to equity (D/E of 0.70), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 2/100, reflecting increased financial risk.
Avantor, Inc.'s current ratio of 1.78 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.
Avantor, Inc. has a free cash flow margin of 7.5%, earning a moderate score of 63/100. The company generates positive cash flow after capital investments, but with room for improvement.
Avantor, Inc. posts a -9.5% return on equity (ROE), meaning it loses $10 for every $100 of shareholders' equity. This results in a returns score of 42/100. This is down from 11.9% the prior year.
Avantor, Inc. scores 1.82, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($10.6B) relative to total liabilities ($6.2B). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Avantor, Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
Avantor, Inc. reported a net loss of $530.2M while generating $623.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Avantor, Inc. reported an operating loss of $246.2M against $169.8M 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
Avantor, Inc. generated $1.6B in revenue in Q1 2026. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 4.9%.
Avantor, Inc.'s EBITDA was $204.5M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 17.2% from the same quarter a year earlier. Against the prior quarter it is down 11.0%.
Avantor, Inc. reported $43.3M in net income in Q1 2026. This represents a decrease of 32.9% from the same quarter a year earlier. Against the prior quarter it is down 17.4%.
Avantor, Inc. earned $0.06 per diluted share (EPS) in Q1 2026. This represents a decrease of 33.3% from the same quarter a year earlier. Against the prior quarter it is down 25.0%.
Cash & Balance Sheet
Avantor, Inc. generated $25.2M in free cash flow in Q1 2026, representing cash available after capex. This represents a decrease of 69.0% from the same quarter a year earlier. Against the prior quarter it is down 78.5%.
Avantor, Inc. held $279.3M in cash against $3.8B in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Avantor, Inc.'s gross margin was 31.7% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 2.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.
Avantor, Inc.'s operating margin was 6.3% in Q1 2026, reflecting core business profitability. This is down 3.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.3 percentage points.
Avantor, Inc.'s net profit margin was 2.7% in Q1 2026, showing the share of revenue converted to profit. This is down 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.
Avantor, Inc.'s ROE was 0.8% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Capital Allocation
Avantor, Inc. invested $33.5M in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 19.6% from the same quarter a year earlier. Against the prior quarter it is down 5.6%.
Not reported for Q1 2026.
Not reported for Q1 2026.
AVTR 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B0.0% | $1.7B-1.4% | $1.6B-5.3% | $1.7B-1.1% | $1.6B-5.9% | $1.7B-2.1% | $1.7B-0.3% | $1.7B-2.4% |
| Cost of Revenue | $1.1B+3.3% | $1.1B+1.4% | $1.1B-4.6% | $1.1B+0.7% | $1.0B-5.7% | $1.1B-2.5% | $1.1B+0.7% | $1.1B-2.8% |
| Gross Profit | $500.7M-6.4% | $523.9M-6.9% | $526.5M-6.7% | $554.1M-4.7% | $534.9M-6.2% | $562.9M-1.3% | $564.4M-2.5% | $581.5M-1.4% |
| SG&A Expenses | $401.2M+3.5% | $392.4M+5.7% | $390.3M-11.3% | $425.3M+4.8% | $387.5M-8.7% | $371.4M-4.1% | $439.8M+19.4% | $405.7M+13.5% |
| Operating Income | $99.5M-32.5% | $126.4M-80.2% | -$648.8M-620.7% | $128.8M-26.7% | $147.4M+0.8% | $638.1M+248.1% | $124.6M-40.7% | $175.8M+145.2% |
| EBITDA | $204.5M-17.2% | $229.7M-68.9% | -$544.3M-339.8% | $231.5M-16.8% | $247.1M+0.5% | $739.0M+160.3% | $227.0M-26.3% | $278.4M+59.7% |
| Interest Expense | $42.9M+1.7% | $40.0M-10.9% | $44.2M-9.2% | $43.4M-28.7% | $42.2M-34.4% | $44.9M-31.2% | $48.7M-32.7% | $60.9M-17.0% |
| Income Tax | $12.2M-42.5% | $28.4M-66.1% | $22.3M+33.5% | $17.0M-21.7% | $21.2M+5.0% | $83.8M+299.0% | $16.7M-40.6% | $21.7M+261.7% |
| Net Income | $43.3M-32.9% | $52.4M-89.5% | -$711.8M-1331.5% | $64.7M-30.4% | $64.5M+6.8% | $500.4M+408.0% | $57.8M-46.7% | $92.9M+1372.6% |
| EPS (Basic) | $0.06-33.3% | $0.08-89.2% | -$1.04-1400.0% | $0.09-35.7% | $0.090.0% | $0.74+393.3% | $0.08-50.0% | $0.14+1500.0% |
| EPS (Diluted) | $0.06-33.3% | $0.08-89.0% | -$1.04-1400.0% | $0.09-35.7% | $0.090.0% | $0.73+421.4% | $0.08-50.0% | $0.14+1500.0% |
| Diluted Shares (Avg) | 677M-0.8% | N/A | 682M-0.2% | 682M-0.1% | 682M+0.1% | N/A | 683M+0.7% | 683M+1.1% |
Not reported in any period shown, so not listed: R&D Expenses.
AVTR 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.7B-5.4% | $11.8B-2.6% | $11.7B-9.1% | $12.8B+0.7% | $12.3B-3.4% | $12.1B-6.6% | $12.8B+0.3% | $12.7B-2.8% |
| Current Assets | $2.4B+5.3% | $2.5B+14.2% | $2.3B-9.9% | $2.5B+8.0% | $2.3B-1.7% | $2.1B-10.0% | $2.5B+5.0% | $2.3B-6.8% |
| Cash & Equivalents | $279.3M-11.5% | $365.4M+39.5% | $251.9M-11.7% | $449.4M+64.9% | $315.7M+34.4% | $261.9M-0.4% | $285.3M+20.4% | $272.6M+15.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $810.3M+8.0% | $818.2M+11.9% | $795.5M+2.0% | $779.8M-2.0% | $750.1M-7.5% | $731.5M-11.7% | $779.6M-8.3% | $795.6M-10.6% |
| Accounts Receivable | $1.1B+0.8% | $1.1B+3.9% | $1.1B-0.9% | $1.1B+1.8% | $1.1B-3.0% | $1.0B-10.1% | $1.1B-5.4% | $1.1B-7.2% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $5.0B-11.7% | $5.0B-10.0% | $5.0B-12.1% | $5.8B+1.8% | $5.6B-1.1% | $5.5B-3.1% | $5.7B+0.6% | $5.7B-0.6% |
| Total Liabilities | $6.1B-2.5% | $6.2B+1.2% | $6.1B-16.2% | $6.5B-10.6% | $6.2B-16.1% | $6.2B-20.2% | $7.3B-5.3% | $7.3B-9.9% |
| Current Liabilities | $1.4B-32.8% | $1.4B-31.3% | $1.5B-7.0% | $2.6B+75.9% | $2.0B+41.1% | $2.0B+35.6% | $1.6B+9.5% | $1.5B-5.5% |
| Non-Current Liabilities | $4.7B+12.2% | $4.9B+16.9% | $4.6B-18.9% | $3.9B-32.4% | $4.2B-29.9% | $4.2B-33.5% | $5.7B-8.9% | $5.8B-10.9% |
| Long-Term Debt | $3.8B+15.3% | $3.9B+21.0% | $3.6B-22.5% | $3.0B-38.5% | $3.3B-34.7% | $3.2B-38.7% | $4.7B-11.3% | $4.9B-12.8% |
| Total Equity | $5.6B-8.4% | $5.6B-6.6% | $5.6B+0.3% | $6.3B+15.7% | $6.1B+14.3% | $6.0B+13.4% | $5.6B+8.9% | $5.4B+8.5% |
| Retained Earnings | $1.7B-24.3% | $1.7B-24.1% | $1.6B-4.8% | $2.3B+41.8% | $2.3B+46.1% | $2.2B+47.7% | $1.7B+22.2% | $1.6B+28.0% |
AVTR 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $58.7M-46.3% | $152.7M-11.9% | $207.4M-15.3% | $154.4M-45.1% | $109.3M-22.8% | $173.3M-31.1% | $244.8M+6.1% | $281.1M+67.1% |
| Depreciation & Amortization | $105.0M+5.3% | $103.3M+2.4% | $104.5M+2.1% | $102.7M+0.1% | $99.7M+0.1% | $100.9M+0.3% | $102.4M+4.5% | $102.6M0.0% |
| Stock-Based Compensation | $8.6M-30.6% | N/A | $7.3M-38.7% | $15.5M+39.6% | $12.4M-2.4% | N/A | $11.9M+21.4% | $11.1M+20.7% |
| Capital Expenditures | $33.5M+19.6% | $35.5M+29.1% | $35.7M-12.5% | $29.6M-35.4% | $28.0M-19.3% | $27.5M-45.7% | $40.8M+8.2% | $45.8M+52.2% |
| Free Cash Flow | $25.2M-69.0% | $117.2M-19.6% | $171.7M-15.8% | $124.8M-47.0% | $81.3M-23.9% | $145.8M-27.5% | $204.0M+5.7% | $235.3M+70.4% |
| Investing Cash Flow | -$32.7M-13.1% | -$39.7M-107.1% | -$33.3M+17.8% | -$28.6M+36.3% | -$28.9M+15.5% | $558.5M+1217.0% | -$40.5M-9.5% | -$44.9M-52.7% |
| Financing Cash Flow | -$107.2M-219.0% | $700K+100.1% | -$369.6M-86.1% | -$6.9M+96.5% | -$33.6M+74.2% | -$755.3M-310.3% | -$198.6M-5.4% | -$197.1M-0.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
AVTR 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.7%-2.2pp | 31.5%-1.9pp | 32.4%-0.5pp | 32.9%-1.2pp | 33.8%-0.1pp | 33.4%+0.3pp | 32.9%-0.7pp | 34.2%+0.3pp |
| Operating Margin | 6.3%-3.0pp | 7.6%-30.2pp | -40.0%-47.2pp | 7.6%-2.7pp | 9.3%+0.6pp | 37.8%+27.2pp | 7.3%-5.0pp | 10.3%+6.2pp |
| Net Margin | 2.7%-1.3pp | 3.1%-26.5pp | -43.8%-47.2pp | 3.8%-1.6pp | 4.1%+0.5pp | 29.7%+24.0pp | 3.4%-2.9pp | 5.5%+5.9pp |
| Return on Equity | 0.8%-0.3pp | 0.9%-7.5pp | -12.8%-13.8pp | 1.0%-0.7pp | 1.1%-0.1pp | 8.4%+6.5pp | 1.0%-1.1pp | 1.7%+1.9pp |
| Return on Assets | 0.4%-0.1pp | 0.4%-3.7pp | -6.1%-6.6pp | 0.5%-0.2pp | 0.5%0.0pp | 4.1%+3.4pp | 0.4%-0.4pp | 0.7%+0.8pp |
| Current Ratio | 1.76+0.6x | 1.78+0.7x | 1.490.0x | 0.98-0.6x | 1.12-0.5x | 1.07-0.5x | 1.54-0.1x | 1.590.0x |
| Debt-to-Equity | 0.68+0.1x | 0.70+0.2x | 0.65-0.2x | 0.48-0.4x | 0.54-0.4x | 0.54-0.5x | 0.84-0.2x | 0.89-0.2x |
| Asset Turnover | 0.140.0x | 0.140.0x | 0.140.0x | 0.130.0x | 0.130.0x | 0.140.0x | 0.130.0x | 0.130.0x |
| FCF Margin | 1.6%-3.6pp | 7.0%-1.6pp | 10.6%-1.3pp | 7.4%-6.4pp | 5.1%-1.2pp | 8.6%-3.0pp | 11.9%+0.7pp | 13.8%+5.9pp |
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 |
|---|---|---|---|---|---|---|
| Avantor, Inc. AVTR | FY2025 | $6.6B | -$530.2M | -8.1% | $10.6B | 37/100 |
| AptarGroup, Inc. ATR | FY2025 | $3.8B | $392.8M | 10.4% | $7.6B | 60/100 |
| Align Technology Inc ALGN | FY2025 | $4.0B | $410.0M | 10.2% | $10.0B | 61/100 |
| Repligen Corp RGEN | FY2025 | $738.3M | $48.9M | 6.6% | $11.0B | 68/100 |
| Teleflex Incorporated TFX | FY2025 | $2.0B | -$905.6M | -45.5% | $5.3B | 48/100 |
Where Avantor, Inc. Ranks
Frequently Asked Questions
What is Avantor, Inc.'s annual revenue?
Avantor, Inc. (AVTR) reported $6.6B in total revenue for fiscal year 2025. This represents a -3.4% 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 Avantor, Inc.'s revenue growing?
Avantor, Inc. (AVTR) revenue declined by 3.4% year-over-year, from $6.8B to $6.6B in fiscal year 2025.
Is Avantor, Inc. profitable?
No, Avantor, Inc. (AVTR) reported a net income of -$530.2M in fiscal year 2025, with a net profit margin of -8.1%.
What is Avantor, Inc.'s EBITDA?
Avantor, Inc. (AVTR) had EBITDA of $164.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Avantor, Inc. have?
As of fiscal year 2025, Avantor, Inc. (AVTR) had $365.4M in cash and equivalents against $3.9B in long-term debt.
What is Avantor, Inc.'s gross margin?
Avantor, Inc. (AVTR) had a gross margin of 32.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Avantor, Inc.'s operating margin?
Avantor, Inc. (AVTR) had an operating margin of -3.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Avantor, Inc.'s net profit margin?
Avantor, Inc. (AVTR) had a net profit margin of -8.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Avantor, Inc.'s return on equity (ROE)?
Avantor, Inc. (AVTR) has a return on equity of -9.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Avantor, Inc.'s free cash flow?
Avantor, Inc. (AVTR) generated $495.0M in free cash flow during fiscal year 2025. This represents a -28.5% 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 Avantor, Inc.'s operating cash flow?
Avantor, Inc. (AVTR) generated $623.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Avantor, Inc.'s total assets?
Avantor, Inc. (AVTR) had $11.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Avantor, Inc.'s capital expenditures?
Avantor, Inc. (AVTR) invested $128.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Avantor, Inc.'s current ratio?
Avantor, Inc. (AVTR) had a current ratio of 1.78 as of fiscal year 2025, which is generally considered healthy.
What is Avantor, Inc.'s debt-to-equity ratio?
Avantor, Inc. (AVTR) had a debt-to-equity ratio of 0.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Avantor, Inc.'s return on assets (ROA)?
Avantor, Inc. (AVTR) had a return on assets of -4.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Avantor, Inc.'s P/E ratio?
Avantor, Inc. (AVTR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $10.6B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Avantor, Inc.'s price-to-sales ratio?
Avantor, Inc. (AVTR) trades at 1.6x sales, its market capitalization divided by revenue of $6.6B revenue, trailing 12 months to March 31, 2026. The market capitalization is $10.6B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Avantor, Inc.'s Altman Z-Score?
Avantor, Inc. (AVTR) has an Altman Z-Score of 1.82, placing it in the Grey Zone (moderate 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 Avantor, Inc.'s Piotroski F-Score?
Avantor, Inc. (AVTR) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 Avantor, Inc.'s earnings high quality?
Avantor, Inc. (AVTR) reported a net loss of $530.2M while generating $623.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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 Avantor, Inc. cover its interest payments?
Avantor, Inc. (AVTR) reported an operating loss of $246.2M against $169.8M 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 Avantor, Inc.?
Avantor, Inc. (AVTR) scores 37 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.