Chipotle Mexican Grill, Inc. (CMG) 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 5, 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 Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CMG SEC filings page.
Chipotle Mexican Grill, Inc. (CMG) reported $12.4B in revenue over the twelve months to Jun 30, 2026, up 7.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Chipotle’s growth still converts to cash, but 2025’s heavier reinvestment and buybacks tightened liquidity and reduced balance-sheet cushion.
Operating cash flow exceeded net income by about$0.6B in both FY2023 and FY2025, showing earnings were accompanied by cash rather than mainly non-cash accounting gains. But free-cash-flow margin eased from12.4% in FY2023 to12.1% in FY2025 as capital expenditures rose, so expansion is consuming more cash even while conversion remains favorable.
The business has become more efficient at the operating line: operating margin rose from
The balance sheet remains debt-light, with reported long-term debt at
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 Chipotle Mexican Grill, 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.
Chipotle Mexican Grill, Inc. has an operating margin of 16.2%, meaning the company retains $16 of operating profit per $100 of revenue. This strong profitability earns a score of 81/100, reflecting efficient cost management and pricing power. This is down from 16.9% the prior year.
Chipotle Mexican Grill, Inc.'s revenue grew 5.4% year-over-year to $11.9B, a solid pace of expansion. This earns a growth score of 65/100.
Chipotle Mexican Grill, Inc. carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
Chipotle Mexican Grill, Inc.'s current ratio of 1.23 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.
Chipotle Mexican Grill, Inc. converts 12.1% of revenue into free cash flow ($1.4B). This strong cash generation earns a score of 73/100.
Chipotle Mexican Grill, Inc. earns a strong 54.3% return on equity (ROE), meaning it generates $54 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 89/100. This is up from 42.0% the prior year.
Chipotle Mexican Grill, Inc. scores 6.16, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($40.9B) relative to total liabilities ($6.2B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Chipotle Mexican Grill, Inc. passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Chipotle Mexican Grill, Inc. generates $1.38 in operating cash flow ($2.1B OCF vs $1.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Chipotle Mexican Grill, Inc. generated $3.3B in revenue in Q2 2026. This represents an increase of 9.3% from the same quarter a year earlier. Against the prior quarter it is up 8.4%.
Chipotle Mexican Grill, Inc.'s EBITDA was $623.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 4.0% from the same quarter a year earlier. Against the prior quarter it is up 26.4%.
Chipotle Mexican Grill, Inc. reported $403.5M in net income in Q2 2026. This represents a decrease of 7.5% from the same quarter a year earlier. Against the prior quarter it is up 33.3%.
Chipotle Mexican Grill, Inc. earned $0.32 per diluted share (EPS) in Q2 2026. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 39.1%.
Cash & Balance Sheet
Chipotle Mexican Grill, Inc. generated $463.4M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 15.6% from the same quarter a year earlier. Against the prior quarter it is down 1.6%.
Chipotle Mexican Grill, Inc. held $228.2M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Chipotle Mexican Grill, Inc.'s operating margin was 15.7% in Q2 2026, reflecting core business profitability. This is down 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.8 percentage points.
Chipotle Mexican Grill, Inc.'s net profit margin was 12.0% in Q2 2026, showing the share of revenue converted to profit. This is down 2.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.
Chipotle Mexican Grill, Inc.'s ROE was 18.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 6.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.8 percentage points.
Not reported for Q2 2026.
Capital Allocation
Chipotle Mexican Grill, Inc. spent $653.9M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 47.5% from the same quarter a year earlier. Against the prior quarter it is down 6.7%.
Chipotle Mexican Grill, Inc. invested $217.3M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 35.3% from the same quarter a year earlier. Against the prior quarter it is up 20.5%.
Not reported for Q2 2026.
CMG 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 | $3.3B+9.3% | $3.1B+7.4% | $3.0B+4.9% | $3.0B+7.5% | $3.1B+3.0% | $2.9B+6.4% | $2.8B+13.1% | $2.8B+13.0% |
| SG&A Expenses | $190.5M+10.6% | $203.7M+17.9% | $160.3M-16.1% | $146.7M+15.9% | $172.2M-1.6% | $172.8M-15.6% | $191.2M+13.0% | $126.6M-20.6% |
| Operating Income | $525.6M-6.0% | $397.1M-17.1% | $420.3M+1.1% | $477.2M+0.8% | $559.1M-4.6% | $479.3M+8.6% | $415.7M+14.4% | $473.3M+19.8% |
| EBITDA | $623.9M-4.0% | $493.8M-12.8% | $513.0M+2.7% | $567.7M+1.8% | $650.0M-2.9% | $566.5M+8.0% | $499.6M+11.3% | $557.6M+17.8% |
| Income Tax | $129.7M-8.2% | $103.0M-10.4% | $102.7M-4.3% | $114.9M-0.3% | $141.3M-7.2% | $114.9M+13.4% | $107.3M+7.0% | $115.2M+15.0% |
| Net Income | $403.5M-7.5% | $302.8M-21.7% | $331.2M-0.1% | $382.1M-1.4% | $436.1M-4.3% | $386.6M+7.6% | $331.7M+17.5% | $387.4M+23.7% |
| EPS (Basic) | $0.320.0% | $0.23-20.7% | $0.25+4.2% | $0.29+3.6% | $0.32-3.0% | $0.29+11.5% | $0.24+20.0% | $0.28+21.7% |
| EPS (Diluted) | $0.320.0% | $0.23-17.9% | $0.25+4.2% | $0.29+3.6% | $0.32-3.0% | $0.28 | $0.24 | $0.28 |
| Diluted Shares (Avg) | 1.28B-5.3% | 1.30B-4.3% | N/A | 1.34B-2.6% | 1.35B-2.3% | 1.36B | N/A | 1.37B |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Interest Expense.
CMG 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 | $8.9B-4.4% | $8.8B-2.7% | $9.0B-2.3% | $9.3B+3.0% | $9.3B+3.9% | $9.0B+7.5% | $9.2B+14.4% | $9.0B+13.9% |
| Current Assets | $940.7M-49.7% | $1.1B-31.6% | $1.5B-17.6% | $1.8B+5.6% | $1.9B+4.6% | $1.7B+1.0% | $1.8B+9.9% | $1.7B+0.7% |
| Cash & Equivalents | $228.2M-73.0% | $246.6M-66.0% | $350.5M-53.2% | $698.7M0.0% | $844.5M+4.7% | $725.6M-0.2% | $748.5M+33.5% | $698.5M+16.0% |
| Short-Term Investments | $449.7M-35.9% | $624.8M-9.3% | $698.6M+3.6% | $722.5M+8.1% | $702.0M+2.7% | $689.1M-0.5% | $674.4M-8.2% | $668.7M-21.5% |
| Inventory | $46.6M+15.4% | $44.7M+8.0% | $49.5M+1.2% | $46.4M-6.8% | $40.4M+13.6% | $41.4M+9.1% | $48.9M+24.5% | $49.8M+24.1% |
| Accounts Receivable | $100.3M-4.5% | $94.9M-6.6% | $156.5M+8.7% | $95.8M+2.8% | $105.0M+7.7% | $101.6M+13.1% | $144.0M+24.6% | $93.2M+31.0% |
| Long-Term Investments | $19.0M-95.8% | $19.5M-96.9% | $120.1M-85.0% | $269.7M-67.3% | $448.2M-52.1% | $628.1M-14.0% | $799.0M+54.1% | $824.0M+90.4% |
| Goodwill | $21.9M0.0% | $21.9M0.0% | $21.9M0.0% | $21.9M0.0% | $21.9M0.0% | $21.9M0.0% | $21.9M0.0% | $21.9M0.0% |
| Total Liabilities | $6.7B+16.1% | $6.4B+15.2% | $6.2B+11.1% | $6.1B+12.3% | $5.7B+10.2% | $5.6B+10.0% | $5.5B+11.4% | $5.4B+7.4% |
| Current Liabilities | $1.3B+16.1% | $1.2B+13.4% | $1.2B+1.7% | $1.2B+10.8% | $1.1B+8.5% | $1.1B+9.4% | $1.2B+13.4% | $1.0B-4.6% |
| Non-Current Liabilities | $5.3B+16.1% | $5.2B+15.6% | $5.0B+13.6% | $4.9B+12.6% | $4.6B+10.6% | $4.5B+10.1% | $4.4B+10.8% | $4.4B+10.7% |
| Long-Term Debt | N/A | N/A | $0 | N/A | N/A | N/A | $0 | N/A |
| Total Equity | $2.2B-37.7% | $2.4B-31.0% | $2.8B-22.6% | $3.2B-10.8% | $3.5B-4.9% | $3.5B+3.9% | $3.7B+19.4% | $3.6B+25.2% |
| Retained Earnings | -$67.2M-104.9% | $167.7M-87.8% | $619.9M-60.6% | $1.0B-34.2% | $1.4B-18.9% | $1.4B-78.7% | $1.6B-74.0% | $1.6B-72.7% |
CMG 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 | $680.7M+21.3% | $651.4M+16.9% | $425.8M-19.2% | $569.7M+27.6% | $561.3M-0.2% | $557.1M-2.1% | $526.8M+98.4% | $446.5M-7.1% |
| Depreciation & Amortization | $98.3M+8.1% | $96.7M+10.9% | $92.7M+10.5% | $90.5M+7.3% | $90.9M+8.8% | $87.2M+4.8% | $83.9M-1.9% | $84.3M+7.4% |
| Stock-Based Compensation | N/A | $28.0M-25.5% | N/A | N/A | N/A | $37.6M+4.4% | N/A | N/A |
| Capital Expenditures | $217.3M+35.3% | $180.3M+24.5% | $197.5M+14.2% | $163.5M+10.8% | $160.6M+14.3% | $144.8M+9.1% | $172.9M+0.6% | $147.5M+12.4% |
| Free Cash Flow | $463.4M+15.6% | $471.0M+14.3% | $228.4M-35.5% | $406.2M+35.9% | $400.7M-5.1% | $412.3M-5.6% | $353.9M+278.4% | $299.0M-14.4% |
| Investing Cash Flow | -$45.3M-2377.8% | -$8.1M-232.8% | -$27.7M+79.6% | -$15.4M+76.0% | $2.0M+100.6% | $6.1M+102.0% | -$136.0M+10.5% | -$64.2M+61.4% |
| Financing Cash Flow | -$654.0M-47.4% | -$747.5M-27.7% | -$741.6M-118.9% | -$700.5M-43.1% | -$443.7M-205.3% | -$585.2M-484.7% | -$338.7M-118.1% | -$489.6M-126.4% |
| Share Buybacks | $653.9M+47.5% | $701.0M+26.6% | $741.8M+118.8% | $686.7M+40.1% | $443.3M+204.9% | $553.8M+1950.7% | $339.0M+118.6% | $490.2M+127.4% |
Not reported in any period shown, so not listed: Dividends Paid.
CMG 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 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 15.7%-2.5pp | 12.9%-3.8pp | 14.1%-0.5pp | 15.9%-1.0pp | 18.3%-1.5pp | 16.7%+0.3pp | 14.6%+0.2pp | 16.9%+1.0pp |
| Net Margin | 12.0%-2.2pp | 9.8%-3.6pp | 11.1%-0.6pp | 12.7%-1.1pp | 14.2%-1.1pp | 13.5%+0.2pp | 11.7%+0.4pp | 13.9%+1.2pp |
| Return on Equity | 18.3%+6.0pp | 12.6%+1.5pp | 11.7%+2.6pp | 11.9%+1.1pp | 12.4%+0.1pp | 11.1%+0.4pp | 9.1%-0.2pp | 10.7%-0.1pp |
| Return on Assets | 4.5%-0.2pp | 3.4%-0.8pp | 3.7%+0.1pp | 4.1%-0.2pp | 4.7%-0.4pp | 4.3%0.0pp | 3.6%+0.1pp | 4.3%+0.3pp |
| Current Ratio | 0.72-0.9x | 0.92-0.6x | 1.23-0.3x | 1.54-0.1x | 1.65-0.1x | 1.52-0.1x | 1.520.0x | 1.62+0.1x |
| Debt-to-Equity | 3.03+1.4x | 2.66+1.1x | 0.000.0x | 1.88+0.4x | 1.63+0.2x | 1.59+0.1x | 0.000.0x | 1.49-0.2x |
| Asset Turnover | 0.380.0x | 0.350.0x | 0.330.0x | 0.320.0x | 0.330.0x | 0.320.0x | 0.310.0x | 0.310.0x |
| FCF Margin | 13.8%+0.8pp | 15.3%+0.9pp | 7.7%-4.8pp | 13.5%+2.8pp | 13.1%-1.1pp | 14.3%-1.8pp | 12.4%+8.7pp | 10.7%-3.4pp |
Not reported in any period shown, so not listed: Gross Margin.
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 |
|---|---|---|---|---|---|---|
| Chipotle Mexican Grill, Inc. CMG | FY2025 | $11.9B | $1.5B | 12.9% | $40.9B | 72/100 |
| Yum! Brands, Inc. YUM | FY2025 | $8.2B | $1.6B | 19.0% | $37.1B | 65/100 |
| Starbucks Corp SBUX | FY2025 | $37.2B | $1.9B | 5.0% | $108.0B | 48/100 |
| Restaurant Brands International Inc. QSR | FY2025 | $9.4B | $1.1B | 11.4% | $24.4B | 59/100 |
| Darden Restaurants, Inc. DRI | FY2026 | $13.2B | $1.2B | 9.1% | $22.7B | 57/100 |
| Yum China Holdings, Inc. YUMC | FY2025 | $11.8B | $929.0M | 7.9% | $13.5B | 53/100 |
Where Chipotle Mexican Grill, Inc. Ranks
Frequently Asked Questions
What is Chipotle Mexican Grill, Inc.'s annual revenue?
Chipotle Mexican Grill, Inc. (CMG) reported $11.9B in total revenue for fiscal year 2025. This represents a 5.4% 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 Chipotle Mexican Grill, Inc.'s revenue growing?
Chipotle Mexican Grill, Inc. (CMG) revenue grew by 5.4% year-over-year, from $11.3B to $11.9B in fiscal year 2025.
Is Chipotle Mexican Grill, Inc. profitable?
Yes, Chipotle Mexican Grill, Inc. (CMG) reported a net income of $1.5B in fiscal year 2025, with a net profit margin of 12.9%.
What is Chipotle Mexican Grill, Inc.'s EBITDA?
Chipotle Mexican Grill, Inc. (CMG) had EBITDA of $2.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Chipotle Mexican Grill, Inc. have?
As of fiscal year 2025, Chipotle Mexican Grill, Inc. (CMG) had $350.5M in cash and equivalents against $0 in long-term debt.
What is Chipotle Mexican Grill, Inc.'s operating margin?
Chipotle Mexican Grill, Inc. (CMG) had an operating margin of 16.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Chipotle Mexican Grill, Inc.'s net profit margin?
Chipotle Mexican Grill, Inc. (CMG) had a net profit margin of 12.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Chipotle Mexican Grill, Inc.'s return on equity (ROE)?
Chipotle Mexican Grill, Inc. (CMG) has a return on equity of 54.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Chipotle Mexican Grill, Inc.'s free cash flow?
Chipotle Mexican Grill, Inc. (CMG) generated $1.4B in free cash flow during fiscal year 2025. This represents a -4.2% 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 Chipotle Mexican Grill, Inc.'s operating cash flow?
Chipotle Mexican Grill, Inc. (CMG) generated $2.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Chipotle Mexican Grill, Inc.'s total assets?
Chipotle Mexican Grill, Inc. (CMG) had $9.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Chipotle Mexican Grill, Inc.'s capital expenditures?
Chipotle Mexican Grill, Inc. (CMG) invested $666.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Chipotle Mexican Grill, Inc.'s current ratio?
Chipotle Mexican Grill, Inc. (CMG) had a current ratio of 1.23 as of fiscal year 2025, which is considered adequate.
What is Chipotle Mexican Grill, Inc.'s debt-to-equity ratio?
Chipotle Mexican Grill, Inc. (CMG) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Chipotle Mexican Grill, Inc.'s return on assets (ROA)?
Chipotle Mexican Grill, Inc. (CMG) had a return on assets of 17.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Chipotle Mexican Grill, Inc.'s P/E ratio?
Chipotle Mexican Grill, Inc. (CMG) trades at 28.8x earnings, its market capitalization divided by net income of $1.4B net income, trailing 12 months to June 30, 2026. The market capitalization is $40.9B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Chipotle Mexican Grill, Inc.'s price-to-sales ratio?
Chipotle Mexican Grill, Inc. (CMG) trades at 3.3x sales, its market capitalization divided by revenue of $12.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $40.9B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Chipotle Mexican Grill, Inc.'s Altman Z-Score?
Chipotle Mexican Grill, Inc. (CMG) has an Altman Z-Score of 6.16, placing it in the Safe Zone (low 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 Chipotle Mexican Grill, Inc.'s Piotroski F-Score?
Chipotle Mexican Grill, Inc. (CMG) has a Piotroski F-Score of 6 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 Chipotle Mexican Grill, Inc.'s earnings high quality?
Chipotle Mexican Grill, Inc. (CMG) has an earnings quality ratio of 1.38x, considered cash-backed (high quality). 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.
How financially healthy is Chipotle Mexican Grill, Inc.?
Chipotle Mexican Grill, Inc. (CMG) scores 72 out of 100 on our Financial Health Score, indicating strong 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.