What is Medical Prop's earnings per share (EPS)?

Medical Prop (MPW) reported diluted earnings per share of -$0.46 for fiscal year 2025. This represents a 88.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Medical Prop Financials

MPW

Trailing 12 months to March 31, 2026

Revenue $1.0B +5.5% YoY

Net Income -$125.9M +92.4% YoY

EPS (Diluted) -$0.46 FY2025 annual

Free Cash Flow Not reported for the trailing 12 months

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 8, 2026 Currency USD FYE December

Medical Prop (MPW) reported $1.0B in revenue over the twelve months to Mar 31, 2026, up 5.5% 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).

Rhea AI MPW FY2025 2026-08-15

Positive operating cash is being stretched across a debt-heavy asset base, leaving thin room after interest and other fixed claims.

Even after the reported loss narrowed sharply in FY2025, operating cash flow was only $230.8M against interest expense of $510.4M, so the cleaner earnings picture did not mean the balance sheet became self-funding. That mismatch helps explain why debt-to-equity still climbed from 1.3x in FY2023 to 2.1x in FY2025 as equity kept shrinking.

Depreciation and amortization was $272.8M in FY2025 against a net loss of -$277M, which is why the company could still post positive operating cash. The loss therefore reflects substantial non-cash asset charges, not just current-period cash leaving the business.

Liquidity has depended on balance-sheet actions alongside operations, not on recurring cash generation alone, which limits how much deleveraging can come from the business itself. Investing cash flow was a $1.3B inflow in FY2024, then financing cash flow turned back to a $228.1M inflow in FY2025, showing cash support came from transactions as well as operations.

Financial Health Signals

Financial health score not available

Medical Prop does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

4/8

Medical Prop passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

N/A

Medical Prop reported a net loss of $277.0M while generating $230.8M 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.

Key Financial Metrics

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Earnings & Revenue

Revenue

$972.0M

YoY-2.4%

5Y CAGR-4.9%

10Y CAGR+8.2%

Medical Prop generated $972.0M in revenue in fiscal year 2025. This represents a decrease of 2.4% from the prior year.

Net Income

-$277.0M

YoY+88.5%

Medical Prop reported -$277.0M in net income in fiscal year 2025. This represents an increase of 88.5% from the prior year.

EPS (Diluted)

-$0.46

YoY+88.6%

Medical Prop earned -$0.46 per diluted share (EPS) in fiscal year 2025. This represents an increase of 88.6% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$540.9M

YoY+62.7%

5Y CAGR-0.3%

10Y CAGR+10.7%

Medical Prop held $540.9M in cash against $9.7B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.33

YoY-28.3%

5Y CAGR-21.1%

10Y CAGR-9.3%

Medical Prop paid $0.33 per share in dividends in fiscal year 2025. This represents a decrease of 28.3% from the prior year.

Shares Outstanding

597M

YoY-0.6%

5Y CAGR+2.0%

10Y CAGR+9.7%

Medical Prop had 597M shares outstanding in fiscal year 2025. This represents a decrease of 0.6% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

90.7%

YoY-1.8pp

5Y CAGR-6.9pp

Medical Prop's gross margin was 90.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the prior year.

Net Margin

-28.5%

5Y CAGR-63.0pp

10Y CAGR-60.1pp

Medical Prop's net profit margin was -28.5% in fiscal year 2025, showing the share of revenue converted to profit. No change is given against fiscal year 2024: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

-6.0%

YoY+43.9pp

5Y CAGR-11.9pp

10Y CAGR-12.7pp

Medical Prop's ROE was -6.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 43.9 percentage points from the prior year.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$23.4M

Medical Prop spent $23.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

MPW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MPW quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$1.0B	$972.0M-2.4%	$995.5M+14.2%	$871.8M-43.5%	$1.5B-0.1%	$1.5B+23.6%	$1.2B+46.2%	$854.2M+8.9%	$784.5M+11.3%	$704.7M+30.2%	$541.1M+22.5%	$441.9M+41.4%	$312.5M+28.9%	$242.5M+22.4%	$198.1M+49.7%	$132.3M
Cost of Revenue	N/A	$90.3M+21.8%	$74.2M-32.6%	$110.1M-34.3%	$167.4M+65.0%	$101.4M+236.6%	$30.1M-82.1%	$168.2M+99.8%	$84.2M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	$881.7M-4.3%	$921.4M+21.0%	$761.7M-44.6%	$1.4B-4.7%	$1.4B+18.4%	$1.2B+77.7%	$686.0M-2.1%	$700.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$120.7M	$130.4M-2.5%	$133.8M-8.1%	$145.6M-9.3%	$160.5M+10.2%	$145.6M+10.6%	$131.7M+36.6%	$96.4M+19.0%	$81.0M+38.2%	$58.6M+19.8%	$48.9M+12.1%	$43.6M+17.1%	$37.3M+24.0%	$30.1M+5.3%	$28.6M+5.4%	$27.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$485.6M+42.1%	$341.6M+29.8%	$263.2M+84.1%	$143.0M-6.9%	$153.5M+18.2%	$129.9M+85.0%	$70.2M
Interest Expense	$527.9M	$510.4M+22.1%	$417.8M+1.6%	$411.2M+14.5%	$359.0M-2.3%	$367.4M+11.8%	$328.7M+38.2%	$237.8M+6.5%	$223.3M+26.2%	$177.0M+10.9%	$159.6M+32.0%	$120.9M+23.2%	$98.2M+47.1%	$66.7M+14.6%	$58.2M+32.9%	$43.8M
Income Tax	-$3.6M	$38.6M-12.4%	$44.1M+133.7%	-$130.7M-333.8%	$55.9M-24.4%	$73.9M+138.1%	$31.1M+1284.9%	-$2.6M-382.7%	$927K-65.4%	$2.7M+139.3%	-$6.8M-554.4%	$1.5M+342.1%	$340K-53.2%	$726K+3721.1%	$19K-85.2%	$128K
Net Income	-$125.9M	-$277.0M+88.5%	-$2.4B-333.1%	-$556.5M-161.7%	$902.6M+37.6%	$656.0M+52.0%	$431.4M+15.2%	$374.7M-63.1%	$1.0B+250.8%	$289.8M+28.8%	$225.0M+61.2%	$139.6M+176.3%	$50.5M-47.9%	$97.0M+7.9%	$89.9M+238.8%	$26.5M
EPS (Diluted)	—	-$0.46+88.6%	-$4.02-332.3%	-$0.93-162.0%	$1.50+35.1%	$1.11+37.0%	$0.81-6.9%	$0.87-68.5%	$2.76+236.6%	$0.82-4.7%	$0.86+36.5%	$0.63+117.2%	$0.29-54.0%	$0.63-6.0%	$0.67+191.3%	$0.23

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$252.1M-6.8%	$270.3M+13.8%	$237.5M-1.2%	$240.4M+7.4%	$223.8M-3.5%	$231.8M+2.7%	$225.8M-15.3%	$266.6M
Cost of Revenue	$97.3M	N/A	N/A	N/A	$81.4M	N/A	N/A	N/A
Gross Profit	$154.7M	N/A	N/A	N/A	$142.4M	N/A	N/A	N/A
SG&A Expenses	$32.2M+31.0%	$24.6M-34.8%	$37.7M+44.0%	$26.2M-37.5%	$41.9M+47.1%	$28.5M-22.2%	$36.6M+3.7%	$35.3M
Interest Expense	$133.3M+0.7%	$132.5M0.0%	$132.4M+2.1%	$129.7M+12.0%	$115.8M+14.1%	$101.5M-4.5%	$106.2M+4.7%	$101.4M
Income Tax	-$32.8M-485.9%	$8.5M-21.8%	$10.9M+10.9%	$9.8M+3.9%	$9.4M-1.3%	$9.6M+5.9%	$9.0M-38.0%	$14.6M
Net Income	$32.8M+89.1%	$17.4M+122.3%	-$77.7M+21.0%	-$98.4M+16.8%	-$118.3M+71.4%	-$412.9M+48.5%	-$801.2M-149.9%	-$320.6M
EPS (Diluted)	$0.05	N/A	-$0.13+18.8%	-$0.16+20.0%	-$0.20	N/A	-$1.34-148.1%	-$0.54

Not reported in any period shown, so not listed: R&D Expenses, Operating Income.

MPW Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MPW quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$15.0B+4.9%	$14.3B-21.9%	$18.3B-6.9%	$19.7B-4.2%	$20.5B+21.9%	$16.8B+16.3%	$14.5B+63.6%	$8.8B-2.0%	$9.0B+40.5%	$6.4B+14.4%	$5.6B+50.8%	$3.7B+28.1%	$2.9B+33.3%	$2.2B+34.3%	$1.6B
Cash & Equivalents	$540.9M+62.7%	$332.3M+32.9%	$250.0M+6.1%	$235.7M-48.7%	$459.2M-16.5%	$549.9M-62.4%	$1.5B+78.1%	$820.9M+378.7%	$171.5M+106.0%	$83.2M-57.4%	$195.5M+35.3%	$144.5M+214.4%	$46.0M+23.2%	$37.3M-63.7%	$102.7M
Total Liabilities	$10.4B+9.9%	$9.5B-11.3%	$10.7B-3.5%	$11.1B-8.4%	$12.1B+27.3%	$9.5B+27.5%	$7.4B+73.7%	$4.3B-17.4%	$5.2B+63.8%	$3.2B-9.6%	$3.5B+49.8%	$2.3B+49.8%	$1.6B+38.2%	$1.1B+42.4%	$793.1M
Long-Term Debt	$9.7B+9.6%	$8.8B-12.1%	$10.1B-2.0%	$10.3B-9.0%	$11.3B+27.3%	$8.9B+26.2%	$7.0B+74.0%	$4.0B-17.6%	$4.9B+68.4%	$2.9B-13.1%	$3.3B+52.3%	$2.2B+54.7%	$1.4B+38.7%	$1.0B+48.6%	$689.8M
Total Equity	$4.6B-4.7%	$4.8B-36.7%	$7.6B-11.2%	$8.6B+1.8%	$8.4B+15.0%	$7.3B+4.4%	$7.0B+54.6%	$4.5B+19.0%	$3.8B+17.6%	$3.2B+54.5%	$2.1B+52.1%	$1.4B+2.8%	$1.3B+28.0%	$1.0B+26.7%	$828.8M
Retained Earnings	-$4.1B-13.1%	-$3.7B-276.5%	-$971.8M-935.7%	$116.3M+232.6%	-$87.7M-22.8%	-$71.4M-186.0%	$83.0M-49.0%	$162.8M+133.5%	-$485.9M-11.9%	-$434.1M-3.7%	-$418.6M-15.9%	-$361.3M-36.5%	-$264.8M-13.4%	-$233.5M-9.1%	-$214.1M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$14.8B-1.6%	$15.0B+0.5%	$14.9B-1.5%	$15.2B+2.0%	$14.9B+3.9%	$14.3B-6.2%	$15.2B-5.9%	$16.2B
Cash & Equivalents	$425.0M-21.4%	$540.9M+36.4%	$396.6M-22.2%	$509.8M-24.3%	$673.5M+102.7%	$332.3M+20.6%	$275.6M-54.6%	$606.5M
Total Liabilities	$10.2B-1.7%	$10.4B+1.3%	$10.3B-0.5%	$10.3B+2.2%	$10.1B+6.7%	$9.5B-3.4%	$9.8B-2.1%	$10.0B
Long-Term Debt	$9.7B-0.4%	$9.7B+0.8%	$9.6B-0.3%	$9.6B+1.9%	$9.5B+7.0%	$8.8B-4.0%	$9.2B-1.6%	$9.4B
Total Equity	$4.5B-1.3%	$4.6B-1.2%	$4.7B-3.6%	$4.8B+1.5%	$4.8B-1.5%	$4.8B-11.1%	$5.4B-12.1%	$6.2B
Retained Earnings	-$4.2B-0.5%	-$4.1B-0.9%	-$4.1B-3.2%	-$4.0B-3.8%	-$3.8B-4.6%	-$3.7B-14.4%	-$3.2B-36.2%	-$2.3B

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.

MPW Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

MPW quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$216.1M	$230.8M-6.0%	$245.5M-51.5%	$505.8M-31.6%	$739.0M-9.0%	$811.7M+31.4%	$617.6M+25.0%	$494.1M+10.0%	$449.1M+24.0%	$362.2M+37.3%	$263.8M+27.5%	$207.0M+37.6%	$150.4M+6.8%	$140.8M+33.7%	$105.3M+32.8%	$79.3M
Investing Cash Flow	-$252.1M	-$264.7M-120.1%	$1.3B+154.7%	$517.6M+30.7%	$396.1M+110.3%	-$3.9B-30.9%	-$2.9B+39.7%	-$4.9B-965.7%	$564.2M+123.9%	-$2.4B-154.9%	-$926.5M+52.4%	-$1.9B-128.9%	-$850.0M-19.3%	-$712.6M-15.5%	-$617.1M-132.3%	-$265.6M
Financing Cash Flow	-$221.5M	$228.1M+115.4%	-$1.5B-45.0%	-$1.0B+24.0%	-$1.3B-145.5%	$2.9B+110.4%	$1.4B-72.2%	$5.0B+1557.7%	-$345.9M-116.7%	$2.1B+274.7%	$552.6M-69.3%	$1.8B+124.4%	$802.6M+38.4%	$579.8M+29.9%	$446.4M+134.1%	$190.7M
Share Buybacks	N/A	$23.4M	N/A	N/A	$17.9M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$14.3M-108.9%	$160.1M+761.9%	$18.6M-64.1%	$51.7M+13375.8%	$384K-99.5%	$76.7M+29.5%	$59.2M+67.9%	$35.3M
Investing Cash Flow	-$76.8M-875.7%	-$7.9M+91.7%	-$95.1M-31.6%	-$72.3M+19.1%	-$89.4M-197.5%	$91.7M-36.2%	$143.8M-88.0%	$1.2B
Financing Cash Flow	-$23.2M-158.5%	-$9.0M+73.9%	-$34.5M+77.7%	-$154.8M-136.3%	$426.3M+527.2%	-$99.8M+81.8%	-$548.1M+35.8%	-$853.5M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

MPW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

MPW quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	90.7%-1.8pp	92.5%+5.2pp	87.4%-1.8pp	89.1%-4.3pp	93.4%-4.2pp	97.6%+17.3pp	80.3%-9.0pp	89.3%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	68.9%+5.8pp	63.1%+3.6pp	59.6%+13.8pp	45.7%-17.6pp	63.3%-2.2pp	65.5%+12.5pp	53.0%
Net Margin	-28.5%	-242.1%	-63.8%-122.3pp	58.5%+16.0pp	42.5%+7.9pp	34.5%-9.3pp	43.9%	129.6%	41.1%-0.5pp	41.6%+10.0pp	31.6%+15.4pp	16.2%-23.8pp	40.0%-5.4pp	45.4%+25.3pp	20.1%
Return on Equity	-6.0%+43.9pp	-49.9%-42.6pp	-7.3%-17.8pp	10.5%+2.7pp	7.8%+1.9pp	5.9%+0.5pp	5.3%-17.0pp	22.4%+14.8pp	7.6%+0.7pp	6.9%+0.3pp	6.6%+3.0pp	3.7%-3.6pp	7.2%-1.3pp	8.6%+5.4pp	3.2%
Return on Assets	-1.8%+15.0pp	-16.9%-13.8pp	-3.0%-7.6pp	4.6%+1.4pp	3.2%+0.6pp	2.6%0.0pp	2.6%-8.9pp	11.5%+8.3pp	3.2%-0.3pp	3.5%+1.0pp	2.5%+1.1pp	1.4%-2.0pp	3.3%-0.8pp	4.1%+2.5pp	1.6%
Debt-to-Equity	2.11+0.3x	1.83+0.5x	1.32+0.1x	1.20-0.1x	1.34+0.1x	1.21+0.2x	1.00+0.1x	0.89-0.4x	1.28+0.4x	0.90-0.7x	1.590.0x	1.59+0.5x	1.06+0.1x	0.98+0.1x	0.83

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	61.4%	N/A	N/A	N/A	63.6%	N/A	N/A	N/A
Net Margin	13.0%+6.6pp	6.4%+39.1pp	-32.7%+8.2pp	-40.9%+11.9pp	-52.8%	-178.1%	-354.8%	-120.3%
Return on Equity	0.7%+0.3pp	0.4%+2.1pp	-1.7%+0.4pp	-2.0%+0.4pp	-2.5%+6.1pp	-8.5%+6.2pp	-14.7%-9.5pp	-5.2%
Return on Assets	0.2%+0.1pp	0.1%+0.6pp	-0.5%+0.1pp	-0.7%+0.2pp	-0.8%+2.1pp	-2.9%+2.4pp	-5.3%-3.3pp	-2.0%
Debt-to-Equity	2.130.0x	2.110.0x	2.06+0.1x	2.000.0x	1.99+0.2x	1.83+0.1x	1.69+0.2x	1.51

Not reported in any period shown, so not listed: Operating Margin, Current Ratio, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

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Where Medical Prop Ranks

Frequently Asked Questions

What is Medical Prop's annual revenue?

Medical Prop (MPW) reported $972.0M in total revenue for fiscal year 2025. This represents a -2.4% 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 Medical Prop's revenue growing?

Medical Prop (MPW) revenue declined by 2.4% year-over-year, from $995.5M to $972.0M in fiscal year 2025.

Is Medical Prop profitable?

No, Medical Prop (MPW) reported a net income of -$277.0M in fiscal year 2025, with a net profit margin of -28.5%.

How much debt does Medical Prop have?

As of fiscal year 2025, Medical Prop (MPW) had $540.9M in cash and equivalents against $9.7B in long-term debt.

What is Medical Prop's gross margin?

Medical Prop (MPW) had a gross margin of 90.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Medical Prop's net profit margin?

Medical Prop (MPW) had a net profit margin of -28.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Medical Prop pay dividends?

Yes, Medical Prop (MPW) paid $0.33 per share in dividends during fiscal year 2025.

What is Medical Prop's return on equity (ROE)?

Medical Prop (MPW) has a return on equity of -6.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Medical Prop's operating cash flow?

Medical Prop (MPW) generated $230.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Medical Prop's total assets?

Medical Prop (MPW) had $15.0B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Medical Prop buy back shares?

Yes, Medical Prop (MPW) spent $23.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Medical Prop have outstanding?

Medical Prop (MPW) had 597M shares outstanding as of fiscal year 2025.

What is Medical Prop's debt-to-equity ratio?

Medical Prop (MPW) had a debt-to-equity ratio of 2.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Medical Prop's return on assets (ROA)?

Medical Prop (MPW) had a return on assets of -1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Medical Prop's Piotroski F-Score?

Medical Prop (MPW) has a Piotroski F-Score of 4 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 Medical Prop's earnings high quality?

Medical Prop (MPW) reported a net loss of $277.0M while generating $230.8M 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.