Mercury Sys Inc Financials

MRCY

Source SEC Filings (10-K/10-Q) Updated Dec 26, 2025 Currency USD FYE June

Financial Health Signals

Financial Profile 61/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Mercury Sys Inc has an operating margin of -2.1%, meaning the company retains $-2 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -17.7% the prior year.

Growth

Mercury Sys Inc's revenue grew 9.2% year-over-year to $912.0M, a solid pace of expansion. This earns a growth score of 55/100.

Leverage

Mercury Sys Inc carries a low D/E ratio of 0.65, meaning only $0.65 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 3.52, Mercury Sys Inc holds $3.52 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

Mercury Sys Inc converts 13.1% of revenue into free cash flow ($119.0M). This strong cash generation earns a score of 65/100.

Piotroski F-Score Neutral

5/9

Mercury Sys Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-3.66x

For every $1 of reported earnings, Mercury Sys Inc generates $-3.66 in operating cash flow ($138.9M OCF vs -$37.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-0.6x

Mercury Sys Inc earns $-0.6 in operating income for every $1 of interest expense (-$19.6M vs $33.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Mercury Sys Inc (MRCY) financial statements, including the 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).

Export CSV

Key Financial Metrics

Revenue

$912.0M

YoY+9.2%

5Y CAGR+6.9%

10Y CAGR+15.9%

Mercury Sys Inc generated $912.0M in revenue in fiscal year 2025. This represents an increase of 9.2% from the prior year.

EBITDA

$62.4M

YoY+204.5%

5Y CAGR-12.7%

10Y CAGR+22.5%

Mercury Sys Inc's EBITDA was $62.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 204.5% from the prior year.

Free Cash Flow

$119.0M

YoY+356.3%

5Y CAGR+10.9%

10Y CAGR+31.8%

Mercury Sys Inc generated $119.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 356.3% from the prior year.

Net Income

-$37.9M

YoY+72.5%

Mercury Sys Inc reported -$37.9M in net income in fiscal year 2025. This represents an increase of 72.5% from the prior year.

EPS (Diluted)

$-0.65

YoY+72.7%

Mercury Sys Inc earned $-0.65 per diluted share (EPS) in fiscal year 2025. This represents an increase of 72.7% from the prior year.

Cash & Debt

$309.1M

YoY+71.2%

5Y CAGR+3.7%

10Y CAGR+20.7%

Mercury Sys Inc held $309.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

60M

YoY+0.9%

5Y CAGR+1.6%

10Y CAGR+6.0%

Mercury Sys Inc had 60M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.

Gross Margin

27.9%

YoY+4.5pp

5Y CAGR-15.8pp

10Y CAGR-17.5pp

Mercury Sys Inc's gross margin was 27.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.5 percentage points from the prior year.

Operating Margin

-2.1%

YoY+15.5pp

5Y CAGR-13.9pp

10Y CAGR+1.4pp

Mercury Sys Inc's operating margin was -2.1% in fiscal year 2025, reflecting core business profitability. This is up 15.5 percentage points from the prior year.

Net Margin

-4.2%

YoY+12.3pp

5Y CAGR-11.3pp

10Y CAGR+1.3pp

Mercury Sys Inc's net profit margin was -4.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 12.3 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$67.6M

YoY-33.2%

5Y CAGR-0.4%

10Y CAGR+6.6%

Mercury Sys Inc invested $67.6M in research and development in fiscal year 2025. This represents a decrease of 33.2% from the prior year.

Share Buybacks

YoY-100.0%

Mercury Sys Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$19.8M

YoY-42.3%

5Y CAGR-5.8%

10Y CAGR+11.4%

Mercury Sys Inc invested $19.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 42.3% from the prior year.

MRCY Income Statement

Metric	FY25	FY24	FY22	FY21	FY20	FY19
Revenue	$912.0M+9.2%	$835.3M-15.5%	$988.2M+6.9%	$924.0M+16.0%	$796.6M+21.7%	$654.7M
Cost of Revenue	$657.5M+2.8%	$639.4M+7.8%	$593.2M+10.1%	$538.8M+22.5%	$439.8M+19.3%	$368.6M
Gross Profit	$254.5M+29.9%	$195.9M-50.4%	$395.0M+2.5%	$385.2M+7.9%	$356.8M+24.7%	$286.2M
R&D Expenses	$67.6M-33.2%	$101.3M-5.5%	$107.2M-5.6%	$113.5M+15.2%	$98.5M+42.9%	$68.9M
SG&A Expenses	$154.4M-7.4%	$166.8M+6.2%	$157.0M+16.9%	$134.3M+1.6%	$132.3M+19.5%	$110.7M
Operating Income	-$19.6M+86.7%	-$147.8M-567.4%	$31.6M-61.0%	$81.0M-11.0%	$91.1M+18.9%	$76.6M
Interest Expense	$33.4M-4.5%	$35.0M+503.1%	$5.8M+375.1%	$1.2M+21.5%	$1.0M-89.0%	$9.1M
Income Tax	-$12.5M+75.8%	-$51.6M-825.2%	$7.1M-52.9%	$15.1M+84.0%	$8.2M-35.5%	$12.8M
Net Income	-$37.9M+72.5%	-$137.6M-1320.8%	$11.3M-81.8%	$62.0M-27.6%	$85.7M+83.2%	$46.8M
EPS (Diluted)	$-0.65+72.7%	$-2.38-1290.0%	$0.20-82.1%	$1.12-28.2%	$1.56+62.5%	$0.96

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Revenue	$232.9M+3.4%	$225.2M+6.6%	$211.4M-5.3%	$223.1M+9.1%	$204.4M-1.8%	$208.3M+5.5%	$197.5M+9.1%	$181.0M
Cost of Revenue	$172.2M+6.1%	$162.3M+5.2%	$154.2M-5.0%	$162.3M+6.3%	$152.6M-8.9%	$167.6M+1.0%	$165.9M+27.2%	$130.5M
Gross Profit	$60.6M-3.6%	$62.9M+10.1%	$57.1M-6.1%	$60.8M+17.4%	$51.8M+27.4%	$40.6M+28.9%	$31.5M-37.6%	$50.5M
R&D Expenses	$15.4M+16.7%	$13.2M-17.5%	$16.0M-25.2%	$21.4M+16.2%	$18.4M-14.7%	$21.6M-24.3%	$28.5M-10.7%	$31.9M
SG&A Expenses	$42.1M-8.2%	$45.9M+6.6%	$43.0M+6.3%	$40.5M+22.2%	$33.2M-23.2%	$43.2M-3.0%	$44.5M+24.2%	$35.8M
Operating Income	-$10.8M-25.8%	-$8.6M+50.4%	-$17.3M-39.7%	-$12.4M+7.5%	-$13.4M+70.6%	-$45.7M+15.3%	-$53.9M-34.1%	-$40.2M
Interest Expense	$7.8M-0.5%	$7.9M-2.3%	$8.1M-4.3%	$8.4M-5.3%	$8.9M-4.4%	$9.3M+7.4%	$8.7M+10.3%	$7.9M
Income Tax	-$2.4M+41.2%	-$4.0M-51.9%	-$2.6M+60.6%	-$6.7M-20.2%	-$5.6M+55.8%	-$12.6M+30.3%	-$18.1M-39.3%	-$13.0M
Net Income	-$15.1M-20.6%	-$12.5M+34.7%	-$19.2M-9.1%	-$17.6M-0.3%	-$17.5M+60.7%	-$44.6M+2.2%	-$45.6M-24.2%	-$36.7M
EPS (Diluted)	$-0.26-23.8%	$-0.21+36.4%	$-0.33-10.0%	$-0.300.0%	$-0.30+61.0%	$-0.77+2.5%	$-0.79-23.4%	$-0.64

MRCY Balance Sheet

Metric	FY25	FY24	FY22	FY21	FY20	FY19
Total Assets	$2.4B+2.3%	$2.4B+1.3%	$2.3B+19.5%	$2.0B+18.9%	$1.7B+16.7%	$1.4B
Current Assets	$1.1B+10.9%	$953.8M+8.5%	$878.8M+32.8%	$661.7M-2.2%	$676.7M+16.2%	$582.2M
Cash & Equivalents	$309.1M+71.2%	$180.5M+247.3%	$52.0M-45.7%	$95.8M-59.9%	$239.1M-7.3%	$257.9M
Inventory	$332.9M-0.7%	$335.3M+16.6%	$287.6M+22.7%	$234.4M+13.8%	$206.0M+50.3%	$137.1M
Accounts Receivable	$109.6M-1.7%	$111.4M-32.1%	$164.2M+53.7%	$106.8M+7.8%	$99.1M-16.6%	$118.8M
Goodwill	$938.1M0.0%	$938.1M0.0%	$937.9M+16.5%	$805.3M+31.1%	$614.4M+9.3%	$562.1M
Total Liabilities	$961.3M+6.1%	$906.1M+11.9%	$810.1M+66.8%	$485.6M+98.0%	$245.3M+85.5%	$132.2M
Current Liabilities	$300.4M+28.1%	$234.4M+28.8%	$182.0M+8.8%	$167.3M+14.1%	$146.6M+49.5%	$98.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.5B0.0%	$1.5B-4.3%	$1.5B+4.0%	$1.5B+5.1%	$1.4B+9.6%	$1.3B
Retained Earnings	$181.9M-17.2%	$219.8M-40.8%	$371.4M+1.1%	$367.4M+11.9%	$328.3M+44.8%	$226.7M

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Total Assets	$2.5B+1.8%	$2.5B+1.8%	$2.4B+0.5%	$2.4B+1.4%	$2.4B-0.4%	$2.4B-2.4%	$2.4B+1.5%	$2.4B
Current Assets	$1.1B+4.4%	$1.1B+6.4%	$1.0B+2.9%	$990.7M+3.8%	$954.3M+0.3%	$951.5M-3.3%	$983.8M+3.0%	$954.7M
Cash & Equivalents	$335.0M+9.9%	$304.7M+12.9%	$269.8M+11.2%	$242.6M+53.4%	$158.1M+10.9%	$142.6M-15.4%	$168.6M+88.7%	$89.4M
Inventory	$349.6M+2.8%	$340.2M-3.5%	$352.7M+2.4%	$344.4M-1.9%	$351.1M+2.4%	$343.0M-3.2%	$354.2M-2.4%	$362.9M
Accounts Receivable	$105.8M+14.2%	$92.6M-10.4%	$103.4M-1.0%	$104.5M-16.1%	$124.5M+35.7%	$91.8M+10.9%	$82.7M-9.5%	$91.4M
Goodwill	$938.1M0.0%	$938.1M0.0%	$938.1M0.0%	$938.1M0.0%	$938.1M0.0%	$938.1M0.0%	$938.1M0.0%	$938.1M
Total Liabilities	$1.0B+6.1%	$982.6M+2.0%	$963.3M+2.4%	$941.2M+3.5%	$909.1M+0.4%	$905.4M-2.8%	$931.8M+8.4%	$860.0M
Current Liabilities	$383.0M+18.9%	$322.2M+8.6%	$296.6M+8.4%	$273.5M+17.5%	$232.8M+12.2%	$207.6M-8.0%	$225.7M+9.9%	$205.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.5B-1.0%	$1.5B+1.6%	$1.5B-0.6%	$1.5B0.0%	$1.5B-0.9%	$1.5B-2.1%	$1.5B-2.4%	$1.5B
Retained Earnings	$154.3M-8.9%	$169.4M+2.3%	$165.5M-10.4%	$184.7M-8.7%	$202.3M-12.3%	$230.6M-16.2%	$275.1M-14.2%	$320.7M

MRCY Cash Flow Statement

Metric	FY25	FY24	FY22	FY21	FY20	FY19
Operating Cash Flow	$138.9M+130.0%	$60.4M+420.0%	-$18.9M-119.4%	$97.2M-15.6%	$115.2M+18.1%	$97.5M
Capital Expenditures	$19.8M-42.3%	$34.3M+24.0%	$27.7M-39.3%	$45.6M+5.3%	$43.3M+62.2%	$26.7M
Free Cash Flow	$119.0M+356.3%	$26.1M+156.1%	-$46.5M-190.1%	$51.6M-28.2%	$71.9M+1.5%	$70.8M
Investing Cash Flow	-$13.5M+60.6%	-$34.3M+87.5%	-$274.3M+34.2%	-$416.9M-207.7%	-$135.5M+11.9%	-$153.8M
Financing Cash Flow	$1.4M-98.3%	$82.7M-66.4%	$245.8M+19.2%	$206.2M+1986.5%	-$10.9M-104.4%	$247.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0-100.0%	$31K-99.6%	$8.2M+12333.3%	$66K-99.6%	$16.2M+103.9%	$8.0M

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Operating Cash Flow	$51.6M+2265.3%	$2.2M-92.7%	$30.0M-64.9%	$85.5M+683.0%	-$14.7M+17.7%	-$17.8M-139.1%	$45.5M+216.4%	-$39.1M
Capital Expenditures	$5.9M-9.9%	$6.5M+10.7%	$5.9M+66.4%	$3.6M-43.0%	$6.2M-21.4%	$7.9M-0.7%	$8.0M-0.3%	$8.0M
Free Cash Flow	$45.7M+1146.9%	-$4.4M-118.1%	$24.1M-70.6%	$81.9M+492.0%	-$20.9M+18.8%	-$25.7M-168.6%	$37.5M+179.7%	-$47.1M
Investing Cash Flow	-$5.9M+9.9%	-$6.5M-103.7%	-$3.2M-94.2%	-$1.7M+73.5%	-$6.2M+21.4%	-$7.9M+0.7%	-$8.0M+0.3%	-$8.0M
Financing Cash Flow	-$15.4M	$0	$0-100.0%	$1.5M+166.3%	-$2.2M	$0-100.0%	$41.2M-36.6%	$65.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	N/A	$0-100.0%	$16K	N/A	$0-100.0%	$15K	$0

MRCY Financial Ratios

Metric	FY25	FY24	FY22	FY21	FY20	FY19
Gross Margin	27.9%+4.5pp	23.4%-16.5pp	40.0%-1.7pp	41.7%-3.1pp	44.8%+1.1pp	43.7%
Operating Margin	-2.1%+15.5pp	-17.7%-20.9pp	3.2%-5.6pp	8.8%-2.7pp	11.4%-0.3pp	11.7%
Net Margin	-4.2%+12.3pp	-16.5%-17.6pp	1.1%-5.6pp	6.7%-4.0pp	10.8%+3.6pp	7.1%
Return on Equity	N/A	N/A	0.7%-3.5pp	4.2%-1.9pp	6.1%+2.5pp	3.6%
Return on Assets	-1.6%+4.2pp	-5.8%-6.3pp	0.5%-2.7pp	3.2%-2.0pp	5.2%+1.9pp	3.3%
Current Ratio	3.52-0.5	4.07-0.8	4.83+0.9	3.95-0.7	4.62-1.3	5.94
Debt-to-Equity	0.65+0.0	0.62+0.1	0.53+0.2	0.33+0.2	0.17+0.1	0.10
FCF Margin	13.1%+9.9pp	3.1%+7.8pp	-4.7%-10.3pp	5.6%-3.4pp	9.0%-1.8pp	10.8%

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Gross Margin	26.0%-1.9pp	27.9%+0.9pp	27.0%-0.2pp	27.3%+1.9pp	25.3%+5.8pp	19.5%+3.6pp	16.0%-12.0pp	27.9%
Operating Margin	-4.7%-0.8pp	-3.8%+4.4pp	-8.2%-2.7pp	-5.6%+1.0pp	-6.6%+15.4pp	-21.9%+5.4pp	-27.3%-5.1pp	-22.2%
Net Margin	-6.5%-0.9pp	-5.6%+3.5pp	-9.1%-1.2pp	-7.9%+0.7pp	-8.6%+12.8pp	-21.4%+1.7pp	-23.1%-2.8pp	-20.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-0.6%-0.1pp	-0.5%+0.3pp	-0.8%-0.1pp	-0.7%+0.0pp	-0.7%+1.1pp	-1.9%0.0pp	-1.9%-0.3pp	-1.5%
Current Ratio	2.96-0.4	3.37-0.1	3.44-0.2	3.62-0.5	4.10-0.5	4.58+0.2	4.36-0.3	4.65
Debt-to-Equity	0.71+0.0	0.670.0	0.66+0.0	0.64+0.0	0.620.0	0.610.0	0.62+0.1	0.56
FCF Margin	19.6%+21.6pp	-1.9%-13.3pp	11.4%-25.3pp	36.7%+46.9pp	-10.2%+2.1pp	-12.4%-31.4pp	19.0%+45.0pp	-26.0%

Similar Companies

Spirit Aerosys SPR

$4.6B

Hexcel Corp HXL

$6.8B

Archer Aviation Inc ACHR

$5.0B

Vse Corp VSEC

$5.7B

Aar Corp AIR

$4.5B

Frequently Asked Questions

What is Mercury Sys Inc's annual revenue?

Mercury Sys Inc (MRCY) reported $912.0M in total revenue for fiscal year 2025. This represents a 9.2% 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 Mercury Sys Inc's revenue growing?

Mercury Sys Inc (MRCY) revenue grew by 9.2% year-over-year, from $835.3M to $912.0M in fiscal year 2025.

Is Mercury Sys Inc profitable?

No, Mercury Sys Inc (MRCY) reported a net income of -$37.9M in fiscal year 2025, with a net profit margin of -4.2%.

What is Mercury Sys Inc's earnings per share (EPS)?

Mercury Sys Inc (MRCY) reported diluted earnings per share of $-0.65 for fiscal year 2025. This represents a 72.7% 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.

What is Mercury Sys Inc's EBITDA?

Mercury Sys Inc (MRCY) had EBITDA of $62.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Mercury Sys Inc's gross margin?

Mercury Sys Inc (MRCY) had a gross margin of 27.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Mercury Sys Inc's operating margin?

Mercury Sys Inc (MRCY) had an operating margin of -2.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Mercury Sys Inc's net profit margin?

Mercury Sys Inc (MRCY) had a net profit margin of -4.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Mercury Sys Inc's free cash flow?

Mercury Sys Inc (MRCY) generated $119.0M in free cash flow during fiscal year 2025. This represents a 356.3% 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.

What is Mercury Sys Inc's operating cash flow?

Mercury Sys Inc (MRCY) generated $138.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Mercury Sys Inc's total assets?

Mercury Sys Inc (MRCY) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Mercury Sys Inc's capital expenditures?

Mercury Sys Inc (MRCY) invested $19.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Mercury Sys Inc spend on research and development?

Mercury Sys Inc (MRCY) invested $67.6M in research and development during fiscal year 2025.

How many shares does Mercury Sys Inc have outstanding?

Mercury Sys Inc (MRCY) had 60M shares outstanding as of fiscal year 2025.

What is Mercury Sys Inc's current ratio?

Mercury Sys Inc (MRCY) had a current ratio of 3.52 as of fiscal year 2025, which is generally considered healthy.

What is Mercury Sys Inc's debt-to-equity ratio?

Mercury Sys Inc (MRCY) had a debt-to-equity ratio of 0.65 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Mercury Sys Inc's return on assets (ROA)?

Mercury Sys Inc (MRCY) had a return on assets of -1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Mercury Sys Inc's Piotroski F-Score?

Mercury Sys Inc (MRCY) has a Piotroski F-Score of 5 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Mercury Sys Inc's earnings high quality?

Mercury Sys Inc (MRCY) has an earnings quality ratio of -3.66x, considered mixed 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.

Can Mercury Sys Inc cover its interest payments?

Mercury Sys Inc (MRCY) has an interest coverage ratio of -0.6x, meaning it can struggle to 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.

How financially healthy is Mercury Sys Inc?

Mercury Sys Inc (MRCY) scores 61 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.