Ecopetrol S.A (EC) 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 Nov 4, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EC SEC filings page.
Ecopetrol S.A (EC) reported $31.9B in revenue for fiscal year 2025, up 5.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 (20-F and 6-K reports).
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. 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 Ecopetrol S.A'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.
Ecopetrol S.A has an operating margin of 22.3%, meaning the company retains $22 of operating profit per $100 of revenue. This strong profitability earns a score of 77/100, reflecting efficient cost management and pricing power. This is down from 28.8% the prior year.
Ecopetrol S.A's revenue grew 5.4% year-over-year to $31.9B, a solid pace of expansion. This earns a growth score of 19/100.
Ecopetrol S.A has elevated debt relative to equity (D/E of 1.22), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 29/100, reflecting increased financial risk.
Ecopetrol S.A's current ratio of 1.55 indicates adequate short-term liquidity, earning a score of 58/100. The company can meet its near-term obligations, though with limited headroom.
Ecopetrol S.A converts 19.7% of revenue into free cash flow ($6.3B). This strong cash generation earns a score of 84/100.
Ecopetrol S.A earns a strong 12.9% return on equity (ROE), meaning it generates $13 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 79/100. This is down from 17.3% the prior year.
Ecopetrol S.A scores 1.28, below the 1.81 distress threshold. 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.
Ecopetrol S.A passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Ecopetrol S.A generates $3.18 in operating cash flow ($8.9B OCF vs $2.8B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Ecopetrol S.A earns $2.47 in operating income for every $1 of interest expense ($7.1B vs $2.9B). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Ecopetrol S.A generated $31.9B in revenue in fiscal year 2025. This represents an increase of 5.4% from the prior year.
Ecopetrol S.A's EBITDA was $11.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 6.4% from the prior year.
Ecopetrol S.A reported $2.8B in net income in fiscal year 2025. This represents a decrease of 11.1% from the prior year.
Ecopetrol S.A earned $0.07 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 11.0% from the prior year.
Cash & Balance Sheet
Ecopetrol S.A generated $6.3B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 22.3% from the prior year.
Ecopetrol S.A held $2.8B in cash against $26.4B in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Ecopetrol S.A's gross margin was 31.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.7 percentage points from the prior year.
Ecopetrol S.A's operating margin was 22.3% in fiscal year 2025, reflecting core business profitability. This is down 6.6 percentage points from the prior year.
Ecopetrol S.A's net profit margin was 8.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.6 percentage points from the prior year.
Ecopetrol S.A's ROE was 12.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.4 percentage points from the prior year.
Capital Allocation
Ecopetrol S.A invested $2.6B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 20.5% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
EC 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.9B+5.4% | $30.2B-19.3% | $37.5B+12.9% | $33.2B+43.8% | $23.1B+57.7% | $14.6B-32.9% | $21.8B+3.3% | $21.1B+12.6% | $18.8B+16.1% | $16.2B-2.8% | $16.6B |
| Cost of Revenue | $21.8B+11.4% | $19.6B-15.0% | $23.1B+24.1% | $18.6B+33.2% | $14.0B+27.6% | $10.9B-20.2% | $13.7B+8.3% | $12.7B+2.5% | $12.4B+8.4% | $11.4B-2.8% | $11.7B |
| Gross Profit | $10.0B-5.7% | $10.6B-26.2% | $14.4B-1.3% | $14.6B+60.0% | $9.1B+147.3% | $3.7B-54.4% | $8.1B-4.1% | $8.4B+32.2% | $6.4B+34.6% | $4.7B-2.7% | $4.9B |
| Operating Income | $7.1B-18.6% | $8.7B-20.2% | $10.9B-12.7% | $12.5B+67.9% | $7.5B+256.5% | $2.1B-67.4% | $6.4B-7.2% | $6.9B+27.5% | $5.4B+82.6% | $3.0B+338.5% | $676.7M |
| EBITDA | $11.4B-6.4% | $12.2B-16.3% | $14.5B-3.3% | $15.0B+50.3% | $10.0B+108.2% | $4.8B-46.8% | $9.0B-2.7% | $9.3B+13.3% | $8.2B+48.9% | $5.5B+94.7% | $2.8B |
| Interest Expense | $2.9B+22.6% | $2.3B-13.9% | $2.7B+62.8% | $1.7B+49.9% | $1.1B-2.8% | $1.1B+12.5% | $1.0B-5.9% | $1.1B-11.9% | $1.2B+6.3% | $1.2B+33.7% | $863.1M |
| Income Tax | $1.2B-57.5% | $2.8B-8.1% | $3.0B-23.6% | $3.9B+78.5% | $2.2B+272.0% | $593.9M-58.7% | $1.4B-43.3% | $2.5B+30.7% | $1.9B+28.4% | $1.5B+571.3% | $225.5M |
| Net Income | $2.8B-11.1% | $3.1B-43.0% | $5.5B-16.1% | $6.6B+67.2% | $3.9B+750.4% | $462.3M-89.0% | $4.2B+19.7% | $3.5B+45.6% | $2.4B+194.9% | $815.8Mn/m | -$2.3B |
| EPS (Basic) | $0.07-11.0% | $0.08-43.1% | $0.13-16.1% | $0.16+67.2% | $0.10+753.6% | $0.01-89.0% | $0.10 | N/A | N/A | N/A | N/A |
| EPS (Diluted) | $0.07-11.0% | $0.08-43.1% | $0.13-16.1% | $0.16+67.2% | $0.10+753.6% | $0.01-89.0% | $0.10 | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses, Diluted Shares (Avg).
EC 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $75.1B+11.1% | $67.6B-7.7% | $73.3B+16.4% | $62.9B+3.4% | $60.9B+51.8% | $40.1B-1.8% | $40.9B+6.5% | $38.4B-2.9% | $39.5B-0.4% | $39.6B | N/A |
| Current Assets | $14.2B+3.4% | $13.8B-23.4% | $18.0B+11.7% | $16.1B+23.7% | $13.0B+95.2% | $6.7B-6.7% | $7.1B-14.3% | $8.3B+6.9% | $7.8B-3.2% | $8.0B | N/A |
| Cash & Equivalents | $2.8B-10.7% | $3.2B-1.2% | $3.2B+0.8% | $3.2B-12.4% | $3.7B+146.8% | $1.5B-31.4% | $2.2B+11.2% | $1.9B-27.1% | $2.7B-5.0% | $2.8B+34.8% | $2.1B |
| Inventory | $2.3B+0.8% | $2.3B-14.8% | $2.7B+8.1% | $2.5B+17.1% | $2.1B+43.3% | $1.5B-14.7% | $1.7B+10.0% | $1.6B+1.8% | $1.5B+20.4% | $1.3B | N/A |
| Accounts Receivable | $4.0B-14.5% | $4.6B-46.8% | $8.7B+6.9% | $8.2B+76.0% | $4.6B+230.1% | $1.4B-19.3% | $1.7B-31.0% | $2.5B+23.4% | $2.0B+45.6% | $1.4B | N/A |
| Goodwill | $1.3B+10.2% | $1.2B-8.0% | $1.3B+14.0% | $1.1B-5.5% | $1.2B+153.4% | $464.5M+31.2% | $353.9M-0.8% | $356.9M-8.2% | $388.7M+0.6% | $386.5M | N/A |
| Total Liabilities | $46.7B+7.1% | $43.6B-7.3% | $47.1B+19.9% | $39.3B+3.0% | $38.1B+55.5% | $24.5B+6.2% | $23.1B+11.1% | $20.8B-10.9% | $23.3B-7.1% | $25.1B | N/A |
| Current Liabilities | $9.2B+2.2% | $9.0B-21.1% | $11.4B-3.4% | $11.8B+55.4% | $7.6B+42.7% | $5.3B-19.7% | $6.6B+21.0% | $5.5B-2.8% | $5.6B+3.4% | $5.5B | N/A |
| Non-Current Liabilities | $37.5B+8.3% | $34.6B-2.9% | $35.7B+29.9% | $27.5B-10.1% | $30.5B+59.1% | $19.2B+16.7% | $16.5B+7.6% | $15.3B-13.5% | $17.7B-10.0% | $19.7B | N/A |
| Long-Term Debt | $26.4B+7.0% | $24.6B+4.4% | $23.6B+22.2% | $19.3B-10.4% | $21.6B+77.1% | $12.2B+20.1% | $10.1B-3.2% | $10.5B-18.6% | $12.9B-19.7% | $16.0B | N/A |
| Total Equity | $21.7B+19.6% | $18.1B-8.6% | $19.8B+10.6% | $17.9B+4.1% | $17.2B+18.3% | $14.5B-12.4% | $16.6B-2.1% | $17.0B+9.0% | $15.6B+11.1% | $14.0B+2.3% | $13.7B |
| Retained Earnings | $2.0B-25.6% | $2.8B-39.7% | $4.6B-26.3% | $6.2B+66.0% | $3.7B+1812.5% | $195.2M-94.8% | $3.8B+22.7% | $3.1B+75.7% | $1.7Bn/m | -$134.1M | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
EC 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.9B-13.3% | $10.2B+97.6% | $5.2B-31.2% | $7.5B+33.1% | $5.7B+111.5% | $2.7B-68.3% | $8.5B+22.3% | $6.9B+21.6% | $5.7B+19.9% | $4.7B+27.9% | $3.7B |
| Depreciation & Amortization | $4.3B+24.4% | $3.4B-4.6% | $3.6B+43.3% | $2.5B-1.2% | $2.6B-6.1% | $2.7B+3.7% | $2.6B+10.5% | $2.4B-14.6% | $2.8B+9.5% | $2.5B+17.9% | $2.1B |
| Capital Expenditures | $2.6B+20.5% | $2.2B-11.7% | $2.4B+34.2% | $1.8B+18.6% | $1.5B+4.8% | $1.5B+19.7% | $1.2B+20.5% | $1.0B+28.3% | $792.0M-34.8% | $1.2B-55.2% | $2.7B |
| Free Cash Flow | $6.3B-22.3% | $8.1B+195.3% | $2.7B-52.1% | $5.7B+38.5% | $4.1B+240.7% | $1.2B-83.3% | $7.2B+22.6% | $5.9B+20.5% | $4.9B+38.8% | $3.5B+255.1% | $993.5M |
| Investing Cash Flow | -$4.8Bn/m | -$5.0Bn/m | -$5.2Bn/m | -$3.8Bn/m | -$5.2Bn/m | -$2.5Bn/m | -$3.1Bn/m | -$2.7Bn/m | -$1.5Bn/m | -$3.1Bn/m | -$4.1B |
| Financing Cash Flow | -$4.6Bn/m | -$5.1Bn/m | -$92.8Mn/m | -$3.9B-325.2% | $1.7Bn/m | -$765.9Mn/m | -$5.2Bn/m | -$4.9Bn/m | -$4.3Bn/m | -$920.8Mn/m | -$442.0M |
| Dividends Paid | $3.1B-11.7% | $3.5B+142.2% | $1.5B-47.5% | $2.8B+298.9% | $696.1M-72.6% | $2.5B-39.9% | $4.2B+210.6% | $1.4B+170.2% | $504.2M-11.6% | $570.6M-67.3% | $1.7B |
Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.
EC 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F | FY1520-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.4%-3.7pp | 35.1%-3.3pp | 38.4%-5.5pp | 44.0%+4.4pp | 39.5%+14.3pp | 25.2%-11.9pp | 37.1%-2.9pp | 40.0%+5.9pp | 34.0%+4.7pp | 29.4%0.0pp | 29.3% |
| Operating Margin | 22.3%-6.6pp | 28.8%-0.3pp | 29.2%-8.6pp | 37.7%+5.4pp | 32.3%+18.0pp | 14.3%-15.1pp | 29.4%-3.3pp | 32.7%+3.8pp | 28.9%+10.5pp | 18.4%+14.3pp | 4.1% |
| Net Margin | 8.8%-1.6pp | 10.4%-4.3pp | 14.7%-5.1pp | 19.8%+2.8pp | 17.0%+13.9pp | 3.2%-16.1pp | 19.2%+2.6pp | 16.6%+3.8pp | 12.8%+7.8pp | 5.1%+18.8pp | -13.7% |
| Return on Equity | 12.9%-4.4pp | 17.3%-10.5pp | 27.8%-8.9pp | 36.7%+13.8pp | 22.9%+19.7pp | 3.2%-22.1pp | 25.3%+4.6pp | 20.6%+5.2pp | 15.5%+9.6pp | 5.8%+22.5pp | -16.7% |
| Return on Assets | 3.7%-0.9pp | 4.6%-2.9pp | 7.5%-2.9pp | 10.4%+4.0pp | 6.5%+5.3pp | 1.1%-9.1pp | 10.3%+1.1pp | 9.1%+3.0pp | 6.1%+4.0pp | 2.1% | N/A |
| Current Ratio | 1.550.0x | 1.530.0x | 1.58+0.2x | 1.36-0.3x | 1.71+0.5x | 1.25+0.2x | 1.07-0.4x | 1.52+0.1x | 1.38-0.1x | 1.47 | N/A |
| Debt-to-Equity | 1.22-0.1x | 1.36+0.2x | 1.19+0.1x | 1.08-0.2x | 1.25+0.4x | 0.84+0.2x | 0.610.0x | 0.62-0.2x | 0.83-0.3x | 1.14 | N/A |
| Liabilities-to-Equity | 2.16-0.3x | 2.410.0x | 2.38+0.2x | 2.190.0x | 2.22+0.5x | 1.69+0.3x | 1.39+0.2x | 1.22-0.3x | 1.50-0.3x | 1.79 | N/A |
| Asset Turnover | 0.420.0x | 0.45-0.1x | 0.510.0x | 0.53+0.1x | 0.380.0x | 0.36-0.2x | 0.530.0x | 0.55+0.1x | 0.47+0.1x | 0.41 | N/A |
| FCF Margin | 19.7%-7.0pp | 26.7%+19.4pp | 7.3%-9.9pp | 17.2%-0.7pp | 17.9%+9.6pp | 8.3%-24.9pp | 33.1%+5.2pp | 27.9%+1.8pp | 26.1%+4.3pp | 21.8%+15.8pp | 6.0% |
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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Ecopetrol S.A EC | FY2025 | $31.9B | $2.8B | 8.8% | $32.7B | 58/100 |
| Cenovus Energy Inc. CVE | FY2025 | $36.2B | $2.9B | 7.9% | $52.4B | 55/100 |
| Imperial Oil Limited IMO | FY2025 | $34.3B | $2.4B | 6.9% | $60.2B | 59/100 |
| YPF Sociedad Anonima YPF | FY2025 | $18.4B | -$826.0M | -4.5% | $16.3B | 37/100 |
| Suncor Energy, Inc. SU | FY2025 | $38.2B | $4.3B | 11.3% | $84.3B | 64/100 |
| Eni S.p.A. E | FY2025 | $96.4B | $3.1B | 3.2% | $80.6B | 41/100 |
Where Ecopetrol S.A Ranks
Frequently Asked Questions
Ecopetrol S.A (EC) reported $31.9B 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.
Ecopetrol S.A (EC) revenue grew by 5.4% year-over-year, from $30.2B to $31.9B in fiscal year 2025.
Yes, Ecopetrol S.A (EC) reported a net income of $2.8B in fiscal year 2025, with a net profit margin of 8.8%.
Ecopetrol S.A (EC) had EBITDA of $11.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Ecopetrol S.A (EC) had $2.8B in cash and equivalents against $26.4B in long-term debt.
Ecopetrol S.A (EC) had a gross margin of 31.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Ecopetrol S.A (EC) had an operating margin of 22.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Ecopetrol S.A (EC) had a net profit margin of 8.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Ecopetrol S.A (EC) has a return on equity of 12.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Ecopetrol S.A (EC) generated $6.3B in free cash flow during fiscal year 2025. This represents a -22.3% 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.
Ecopetrol S.A (EC) generated $8.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Ecopetrol S.A (EC) had $75.1B in total assets as of fiscal year 2025, including both current and long-term assets.
Ecopetrol S.A (EC) invested $2.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Ecopetrol S.A (EC) had a current ratio of 1.55 as of fiscal year 2025, which is generally considered healthy.
Ecopetrol S.A (EC) had a debt-to-equity ratio of 1.22 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Ecopetrol S.A (EC) had a liabilities-to-equity ratio of 2.16 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Ecopetrol S.A (EC) had a return on assets of 3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Ecopetrol S.A (EC) trades at 11.7x earnings, its market capitalization divided by $2.8B net income, FY2025. The market capitalization is $32.7B as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Ecopetrol S.A (EC) trades at 1.0x sales, its market capitalization divided by $31.9B revenue, FY2025. The market capitalization is $32.7B as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Ecopetrol S.A (EC) has an Altman Z-Score of 1.28, 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.
Ecopetrol S.A (EC) has a Piotroski F-Score of 6 out of 9, indicating neutral 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.
Ecopetrol S.A (EC) has an earnings quality ratio of 3.18x, 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.
Ecopetrol S.A (EC) has an interest coverage ratio of 2.47x, meaning it can adequately cover its interest obligations. 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.
Ecopetrol S.A (EC) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its energy companies peer group. The score is the average 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.