NCR Atleos Corporation (NATL) 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 13, 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 Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NATL SEC filings page.
NCR Atleos Corporation (NATL) reported $4.4B in revenue over the twelve months to Jun 30, 2026, up 3.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Revenue is nearly flat, but operating profit has nearly doubled as lower overhead and reduced leverage improve the earnings profile.
Margin expansion outpaced sales: revenue barely moved from FY2023 to FY2025 while operating margin rose from6.3% to11.0% . That pattern points to cost-structure improvement rather than sales expansion, because overhead declined while revenue remained nearly level.
2025 cash conversion was favorable: operating cash flow reached
The balance sheet is less debt-heavy than in FY2023: debt-to-equity fell from 13.4x to 6.6x as long-term debt declined and equity recovered. However, a just-below-1.0x current ratio in FY2025 means current liabilities slightly exceeded current assets, leaving limited short-term balance-sheet slack.
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 NCR Atleos Corporation'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.
NCR Atleos Corporation has an operating margin of 11.0%, meaning the company retains $11 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is up from 10.2% the prior year.
NCR Atleos Corporation's revenue grew a modest 1.1% year-over-year to $4.4B. This slow but positive growth earns a score of 38/100.
NCR Atleos Corporation has elevated debt relative to equity (D/E of 6.63), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 22/100, reflecting increased financial risk.
NCR Atleos Corporation's current ratio of 0.96 is below the typical benchmark, resulting in a score of 17/100. This tight liquidity could limit financial flexibility if cash inflows slow.
NCR Atleos Corporation has a free cash flow margin of 5.5%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.
NCR Atleos Corporation earns a strong 40.2% return on equity (ROE), meaning it generates $40 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 70/100. This is up from 36.5% the prior year.
NCR Atleos Corporation scores 1.49, 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.
NCR Atleos Corporation passes 5 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, neither operating efficiency signal passes.
For every $1 of reported earnings, NCR Atleos Corporation generates $2.20 in operating cash flow ($356.0M OCF vs $162.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
NCR Atleos Corporation earns $1.77 in operating income for every $1 of interest expense ($478.0M vs $270.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
NCR Atleos Corporation generated $1.1B in revenue in Q2 2026. This represents an increase of 0.1% from the same quarter a year earlier. Against the prior quarter it is up 5.8%.
NCR Atleos Corporation's EBITDA was $228.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 19.4% from the same quarter a year earlier. Against the prior quarter it is up 48.1%.
NCR Atleos Corporation reported $65.0M in net income in Q2 2026. This represents an increase of 66.7% from the same quarter a year earlier. Against the prior quarter it is up 195.5%.
NCR Atleos Corporation earned $0.86 per diluted share (EPS) in Q2 2026. This represents an increase of 65.4% from the same quarter a year earlier. Against the prior quarter it is up 196.6%.
Cash & Balance Sheet
NCR Atleos Corporation generated $4.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 108.7% from the same quarter a year earlier. Against the prior quarter it is up 111.1%.
NCR Atleos Corporation held $429.0M in cash against $2.7B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
NCR Atleos Corporation's operating margin was 14.1% in Q2 2026, reflecting core business profitability. This is up 3.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.1 percentage points.
NCR Atleos Corporation's net profit margin was 5.9% in Q2 2026, showing the share of revenue converted to profit. This is up 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.8 percentage points.
NCR Atleos Corporation's ROE was 14.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.5 percentage points.
Not reported for Q2 2026.
Capital Allocation
NCR Atleos Corporation invested $20.0M in research and development in Q2 2026. This represents an increase of 17.6% from the same quarter a year earlier. It is unchanged from the prior quarter.
NCR Atleos Corporation repurchased no shares in Q2 2026. Against the prior quarter it is down 100.0%.
NCR Atleos Corporation invested $26.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 23.8% from the same quarter a year earlier. Against the prior quarter it is down 3.7%.
NATL 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-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B+0.1% | $1.0B+6.5% | $1.2B+4.0% | $1.1B+4.5% | $1.1B+2.2% | $979.0M-6.4% | $1.1B+1.1% | $1.1B+0.8% |
| R&D Expenses | $20.0M+17.6% | $20.0M+17.6% | $18.0M-5.3% | $18.0M+20.0% | $17.0M+54.5% | $17.0M0.0% | $19.0M-26.9% | $15.0M-11.8% |
| SG&A Expenses | $133.0M+14.7% | $130.0M+6.6% | $132.0M+1.5% | $143.0M+12.6% | $116.0M-12.1% | $122.0M-7.6% | $130.0M-7.1% | $127.0M-20.6% |
| Operating Income | $156.0M+31.1% | $84.0M-9.7% | $156.0M+4.7% | $110.0M-3.5% | $119.0M+12.3% | $93.0M+36.8% | $149.0M+396.7% | $114.0M+26.7% |
| EBITDA | $228.0M+19.4% | $154.0M-4.9% | $222.0M+1.8% | $180.0M-4.3% | $191.0M+7.9% | $162.0M+14.9% | $218.0M | $188.0M+27.0% |
| Interest Expense | $62.0M-10.1% | $63.0M-6.0% | $66.0M | $68.0M-13.9% | $69.0M-12.7% | $67.0M-15.2% | N/A | $79.0M+1216.7% |
| Income Tax | $25.0M+31.6% | $11.0M+22.2% | -$8.0M-130.8% | $7.0M-30.0% | $19.0M+280.0% | $9.0M+200.0% | $26.0M-40.9% | $10.0M-93.2% |
| Net Income | $65.0M+66.7% | $22.0M+57.1% | $83.0M+102.4% | $26.0M+23.8% | $39.0M+44.4% | $14.0M+255.6% | $41.0M+123.4% | $21.0M+134.4% |
| EPS (Basic) | $0.88+66.0% | $0.30+57.9% | $1.13+98.2% | $0.35+20.7% | $0.53+43.2% | $0.19+246.2% | $0.57+123.0% | $0.29+133.7% |
| EPS (Diluted) | $0.86+65.4% | $0.29+52.6% | $1.09+98.2% | $0.34+21.4% | $0.52+40.5% | $0.19+246.2% | $0.55+122.2% | $0.28+132.6% |
| Diluted Shares (Avg) | 76M+1.2% | 76M+0.5% | 76M+1.7% | 76M+2.0% | 75M+1.6% | 75M+5.0% | 75M+6.2% | 75M+5.5% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
NATL 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-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.7B-2.6% | $5.6B-1.7% | $5.7B+2.4% | $5.7B-1.7% | $5.8B+0.8% | $5.7B-0.6% | $5.5B-2.9% | $5.7B-30.8% |
| Current Assets | $1.8B-6.5% | $1.8B-6.3% | $1.8B+4.3% | $1.8B-5.9% | $2.0B-0.2% | $1.9B-2.3% | $1.7B-6.0% | $1.9B+1.6% |
| Cash & Equivalents | $429.0M+20.8% | $433.0M+23.0% | $456.0M+8.8% | $412.0M+4.3% | $355.0M-5.1% | $352.0M+2.6% | $419.0M+23.6% | $395.0M-6.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $351.0M-12.3% | $366.0M+2.8% | $342.0M+11.4% | $383.0M+9.1% | $400.0M+21.6% | $356.0M+7.9% | $307.0M-7.8% | $351.0M-18.6% |
| Accounts Receivable | $601.0M-10.2% | $575.0M-12.6% | $550.0M-5.3% | $569.0M-8.7% | $669.0M-5.4% | $658.0M-11.3% | $581.0M-17.8% | $623.0M+45.6% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $2.0B+0.2% | $2.0B+0.4% | $2.0B+0.4% | $2.0B+0.3% | $2.0B+0.1% | $2.0B0.0% | $1.9B-0.1% | $2.0B+0.2% |
| Total Liabilities | $5.2B-4.8% | $5.2B-4.0% | $5.3B-0.9% | $5.3B-3.0% | $5.5B-0.9% | $5.5B-0.5% | $5.3B-3.1% | $5.5B+16.3% |
| Current Liabilities | $1.8B-4.5% | $1.9B-2.0% | $1.9B+10.3% | $1.8B-0.8% | $1.9B+1.8% | $1.9B+0.3% | $1.7B-2.9% | $1.8B+15.2% |
| Non-Current Liabilities | $3.4B-5.0% | $3.4B-5.0% | $3.4B-6.2% | $3.5B-4.1% | $3.6B-2.3% | $3.6B-0.9% | $3.6B-3.2% | $3.7B+16.8% |
| Long-Term Debt | $2.7B-3.7% | $2.7B-4.6% | $2.7B-6.5% | $2.8B-4.0% | $2.8B-3.6% | $2.8B-0.8% | $2.9B-2.7% | $2.9B |
| Total Equity | $464.0M+32.6% | $396.0M+44.0% | $403.0M+84.0% | $330.0M+25.0% | $350.0M+40.0% | $275.0M-2.8% | $219.0M0.0% | $264.0M-92.6% |
| Retained Earnings | $371.0M+34.4% | $306.0M+22.9% | $299.0M+59.0% | $268.0M+40.3% | $276.0M+65.3% | $249.0M+50.9% | $188.0M+60.7% | $191.0M |
NATL 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-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $30.0M+220.0% | -$9.0M-107.3% | $231.0M+188.8% | $27.0M-74.8% | -$25.0M-377.8% | $123.0M-16.9% | $80.0M+900.0% | $107.0M-27.2% |
| Depreciation & Amortization | $72.0M0.0% | $70.0M+1.4% | $66.0M-4.3% | $70.0M-5.4% | $72.0M+1.4% | $69.0M-5.5% | $69.0M | $74.0M+27.6% |
| Stock-Based Compensation | $10.0M+25.0% | $7.0M-22.2% | N/A | $8.0M-11.1% | $8.0M-11.1% | $9.0M-10.0% | N/A | $9.0M-25.0% |
| Capital Expenditures | $26.0M+23.8% | $27.0M-6.9% | $37.0M+105.6% | $30.0M+36.4% | $21.0M-8.7% | $29.0M+20.8% | $18.0M-52.6% | $22.0M-54.2% |
| Free Cash Flow | $4.0M+108.7% | -$36.0M-138.3% | $194.0M+212.9% | -$3.0M-103.5% | -$46.0M-228.6% | $94.0M-24.2% | $62.0M+306.7% | $85.0M-14.1% |
| Investing Cash Flow | -$27.0M | -$25.0M+32.4% | -$28.0M-12.0% | -$51.0M-30.8% | $0+100.0% | -$37.0M-19.4% | -$25.0M+46.8% | -$39.0M+84.6% |
| Financing Cash Flow | $5.0M+129.4% | -$11.0M+77.6% | -$151.0M-77.6% | -$36.0M-89.5% | -$17.0M-129.8% | -$49.0M+43.7% | -$85.0M+95.9% | -$19.0M-100.8% |
| Share Buybacks | $0 | $16.0M | N/A | N/A | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
NATL 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-K | Q3'2510-K | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 14.1%+3.3pp | 8.1%-1.4pp | 13.5%+0.1pp | 9.8%-0.8pp | 10.8%+1.0pp | 9.5%+3.0pp | 13.5%+10.7pp | 10.6%+2.2pp |
| Net Margin | 5.9%+2.4pp | 2.1%+0.7pp | 7.2%+3.5pp | 2.3%+0.4pp | 3.5%+1.0pp | 1.4%+2.3pp | 3.7%+19.7pp | 2.0%+7.7pp |
| Return on Equity | 14.0%+2.9pp | 5.6%+0.5pp | 20.6%+1.9pp | 7.9%-0.1pp | 11.1%+0.3pp | 5.1%+8.3pp | 18.7%+98.6pp | 8.0%+9.7pp |
| Return on Assets | 1.1%+0.5pp | 0.4%+0.1pp | 1.5%+0.7pp | 0.5%+0.1pp | 0.7%+0.2pp | 0.2%+0.4pp | 0.7%+3.8pp | 0.4%+1.1pp |
| Current Ratio | 1.030.0x | 0.980.0x | 0.96-0.1x | 1.02-0.1x | 1.050.0x | 1.030.0x | 1.020.0x | 1.07-0.1x |
| Debt-to-Equity | 5.84-2.2x | 6.83-3.5x | 6.63-6.4x | 8.45-2.6x | 8.05-3.6x | 10.30+0.2x | 13.05-0.4x | 11.01+9.7x |
| Asset Turnover | 0.190.0x | 0.180.0x | 0.200.0x | 0.200.0x | 0.190.0x | 0.170.0x | 0.200.0x | 0.19+0.1x |
| FCF Margin | 0.4%+4.5pp | -3.5%-13.1pp | 16.8%+11.2pp | -0.3%-8.2pp | -4.2%-2.9pp | 9.6%-2.2pp | 5.6%+8.3pp | 7.9%-1.4pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.96), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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 |
|---|---|---|---|---|---|---|
| NCR Atleos Corporation NATL | FY2025 | $4.4B | $162.0M | 3.7% | $3.4B | 44/100 |
| Agilysys, Inc. AGYS | FY2026 | $319.3M | $38.8M | 12.2% | $3.0B | 72/100 |
| RINGCENTRAL, INC. RNG | FY2025 | $2.5B | $43.4M | 1.7% | $6.6B | 48/100 |
| Alarm.com Holdings, Inc. ALRM | FY2025 | $1.0B | $131.6M | 13.0% | $2.7B | 61/100 |
| Bitdeer Technologies Group BTDR | FY2025 | $620.3M | $65.6M | 10.6% | $2.6B | 31/100 |
Where NCR Atleos Corporation Ranks
Frequently Asked Questions
What is NCR Atleos Corporation's annual revenue?
NCR Atleos Corporation (NATL) reported $4.4B in total revenue for fiscal year 2025. This represents a 1.1% 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 NCR Atleos Corporation's revenue growing?
NCR Atleos Corporation (NATL) revenue grew by 1.1% year-over-year, from $4.3B to $4.4B in fiscal year 2025.
Is NCR Atleos Corporation profitable?
Yes, NCR Atleos Corporation (NATL) reported a net income of $162.0M in fiscal year 2025, with a net profit margin of 3.7%.
What is NCR Atleos Corporation's EBITDA?
NCR Atleos Corporation (NATL) had EBITDA of $755.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does NCR Atleos Corporation have?
As of fiscal year 2025, NCR Atleos Corporation (NATL) had $456.0M in cash and equivalents against $2.7B in long-term debt.
What is NCR Atleos Corporation's operating margin?
NCR Atleos Corporation (NATL) had an operating margin of 11.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is NCR Atleos Corporation's net profit margin?
NCR Atleos Corporation (NATL) had a net profit margin of 3.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is NCR Atleos Corporation's return on equity (ROE)?
NCR Atleos Corporation (NATL) has a return on equity of 40.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is NCR Atleos Corporation's free cash flow?
NCR Atleos Corporation (NATL) generated $239.0M in free cash flow during fiscal year 2025. This represents a -7.0% 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 NCR Atleos Corporation's operating cash flow?
NCR Atleos Corporation (NATL) generated $356.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are NCR Atleos Corporation's total assets?
NCR Atleos Corporation (NATL) had $5.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are NCR Atleos Corporation's capital expenditures?
NCR Atleos Corporation (NATL) invested $117.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does NCR Atleos Corporation spend on research and development?
NCR Atleos Corporation (NATL) invested $70.0M in research and development during fiscal year 2025.
What is NCR Atleos Corporation's current ratio?
NCR Atleos Corporation (NATL) had a current ratio of 0.96 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is NCR Atleos Corporation's debt-to-equity ratio?
NCR Atleos Corporation (NATL) had a debt-to-equity ratio of 6.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is NCR Atleos Corporation's return on assets (ROA)?
NCR Atleos Corporation (NATL) had a return on assets of 2.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is NCR Atleos Corporation's P/E ratio?
NCR Atleos Corporation (NATL) trades at 17.2x earnings, its market capitalization divided by net income of $196.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $3.4B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is NCR Atleos Corporation's price-to-sales ratio?
NCR Atleos Corporation (NATL) trades at 0.8x sales, its market capitalization divided by revenue of $4.4B revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.4B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is NCR Atleos Corporation's Altman Z-Score?
NCR Atleos Corporation (NATL) has an Altman Z-Score of 1.49, 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.
What is NCR Atleos Corporation's Piotroski F-Score?
NCR Atleos Corporation (NATL) has a Piotroski F-Score of 5 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 NCR Atleos Corporation's earnings high quality?
NCR Atleos Corporation (NATL) has an earnings quality ratio of 2.20x, 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.
Can NCR Atleos Corporation cover its interest payments?
NCR Atleos Corporation (NATL) has an interest coverage ratio of 1.77x, 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 NCR Atleos Corporation?
NCR Atleos Corporation (NATL) scores 44 out of 100 on our Financial Health Score, indicating moderate 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.