What is Pagaya Technologies Ltd's earnings per share (EPS)?

Pagaya Technologies Ltd (PGYWW) reported diluted earnings per share of $0.93 for fiscal year 2025. This represents a 116.4% 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.

Pagaya Technologies Ltd Financials

PGYWW

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Pagaya Technologies Ltd (PGYWW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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 PGYWW FY2025 2026-04-22

Profitability in FY2025 reflects a leaner cost structure turning revenue growth into cash, while underlying gross economics stayed similar.

Between FY2023 and FY2025, revenue growth arrived alongside lower SG&A and flat R&D, turning an almost breakeven operating line into a 20.3% operating margin; the inflection came from cost structure and scale rather than better gross economics. That is why FY2025 operating cash flow of $238.6M ran well ahead of net income of $81.4M: the business did not need heavy reinvestment to support the higher earnings base.

The FY2024 net loss masked a business that was already improving: operating income was positive at $66.8M and free cash flow was also positive at $30.0M. So FY2025's profit is better read as an acceleration of an existing operating repair than as a one-year swing from nowhere.

Gross margin stayed around the low-40% range even as revenue scaled, which suggests the big earnings jump came below gross profit, not from a fundamentally different unit margin. The balance sheet is healthier than the 2021 near-zero equity position, but retained losses of -$862.7M and total liabilities of $960.5M show the business is still early in rebuilding its accumulated capital.

Financial Health Signals

Financial Health Score 57/100

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 Pagaya Technologies Ltd'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.

Profitability

Pagaya Technologies Ltd has an operating margin of 20.3%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 71/100, reflecting efficient cost management and pricing power. This is up from 6.5% the prior year.

Growth

Pagaya Technologies Ltd's revenue surged 26.1% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 87/100.

Leverage

Pagaya Technologies Ltd has a moderate D/E ratio of 2.00. This balance of debt and equity financing earns a leverage score of 31/100.

Cash Flow

Pagaya Technologies Ltd has a free cash flow margin of 17.3%, earning a moderate score of 63/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Pagaya Technologies Ltd's ROE of 17.0% shows moderate profitability relative to equity, earning a score of 36/100. This is up from -123.0% the prior year.

Piotroski F-Score Partial

6/6

Pagaya Technologies Ltd passes 6 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.93x

For every $1 of reported earnings, Pagaya Technologies Ltd generates $2.93 in operating cash flow ($238.6M OCF vs $81.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.3B

YoY+26.1%

5Y CAGR+67.4%

Pagaya Technologies Ltd generated $1.3B in revenue in fiscal year 2025. This represents an increase of 26.1% from the prior year.

EBITDA

$293.9M

YoY+207.5%

5Y CAGR+68.6%

Pagaya Technologies Ltd's EBITDA was $293.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 207.5% from the prior year.

Net Income

$81.4M

YoY+120.3%

5Y CAGR+41.3%

Pagaya Technologies Ltd reported $81.4M in net income in fiscal year 2025. This represents an increase of 120.3% from the prior year.

EPS (Diluted)

$0.93

YoY+116.4%

5Y CAGR+115.5%

Pagaya Technologies Ltd earned $0.93 per diluted share (EPS) in fiscal year 2025. This represents an increase of 116.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$224.7M

YoY+648.7%

5Y CAGR+134.6%

Pagaya Technologies Ltd generated $224.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 648.7% from the prior year.

Cash & Debt

$235.3M

YoY+25.2%

5Y CAGR+115.5%

Pagaya Technologies Ltd held $235.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

42.4%

YoY+0.3pp

5Y CAGR-8.0pp

Pagaya Technologies Ltd's gross margin was 42.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.3 percentage points from the prior year.

Operating Margin

20.3%

YoY+13.8pp

5Y CAGR-1.2pp

Pagaya Technologies Ltd's operating margin was 20.3% in fiscal year 2025, reflecting core business profitability. This is up 13.8 percentage points from the prior year.

Net Margin

6.3%

YoY+45.1pp

5Y CAGR-8.4pp

Pagaya Technologies Ltd's net profit margin was 6.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 45.1 percentage points from the prior year.

Return on Equity

17.0%

YoY+139.9pp

5Y CAGR+0.5pp

Pagaya Technologies Ltd's ROE was 17.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 139.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$75.2M

YoY-1.8%

5Y CAGR+43.6%

Pagaya Technologies Ltd invested $75.2M in research and development in fiscal year 2025. This represents a decrease of 1.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$13.9M

YoY-21.6%

5Y CAGR+66.2%

Pagaya Technologies Ltd invested $13.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 21.6% from the prior year.

PGYWW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.3B+26.1%	$1.0B+27.1%	$812.1M+8.4%	$748.9M+57.8%	$474.6M+379.3%	$99.0M
Cost of Revenue	$749.2M+25.4%	$597.7M+17.4%	$508.9M+12.8%	$451.1M+94.2%	$232.3M+373.3%	$49.1M
Gross Profit	$552.2M+27.1%	$434.6M+43.4%	$303.1M+1.8%	$297.8M+22.9%	$242.3M+385.3%	$49.9M
R&D Expenses	$75.2M-1.8%	$76.6M+2.9%	$74.4M-50.7%	$150.9M+128.0%	$66.2M+436.9%	$12.3M
SG&A Expenses	$159.6M-33.7%	$240.8M+18.4%	$203.4M-30.9%	$294.2M+122.5%	$132.2M+1139.1%	$10.7M
Operating Income	$263.8M+294.7%	$66.8M+373.9%	-$24.4M+90.3%	-$251.5M-4229.6%	-$5.8M-127.3%	$21.3M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$19.7M-180.3%	$24.6M+57.8%	$15.6M-5.1%	$16.4M+108.3%	$7.9M+517.2%	$1.3M
Net Income	$81.4M+120.3%	-$401.4M-212.5%	-$128.4M+57.5%	-$302.3M-231.7%	-$91.2M-729.9%	$14.5M
EPS (Diluted)	$0.93+116.4%	$-5.66-164.5%	$-2.14+74.0%	$-8.22+0.4%	$-8.25-41350.0%	$0.02

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$317.9M-5.0%	$334.8M-4.4%	$350.2M+7.3%	$326.4M+12.6%	$290.0M+3.8%	$279.4M+8.6%	$257.2M+2.8%	$250.3M
Cost of Revenue	$177.6M-6.6%	$190.0M-5.2%	$200.6M+4.8%	$191.5M+14.6%	$167.1M+5.6%	$158.2M+6.2%	$149.0M+2.3%	$145.6M
Gross Profit	$140.4M-3.0%	$144.8M-3.2%	$149.6M+10.9%	$134.9M+9.8%	$122.9M+1.4%	$121.2M+11.9%	$108.3M+3.4%	$104.7M
R&D Expenses	$15.9M-16.4%	$19.1M+4.6%	$18.2M-1.2%	$18.5M-5.1%	$19.4M+4.5%	$18.6M+11.7%	$16.7M-24.1%	$21.9M
SG&A Expenses	$33.3M-7.7%	$36.1M-2.3%	$36.9M-8.4%	$40.3M-12.6%	$46.2M-16.7%	$55.5M-4.0%	$57.8M-10.3%	$64.4M
Operating Income	$80.0M+0.4%	$79.7M-0.3%	$80.0M+41.6%	$56.5M+18.4%	$47.7M+50.2%	$31.7M+41.8%	$22.4M+345.3%	$5.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$3.1M+145.2%	-$7.0M+54.2%	-$15.2M-405.5%	$5.0M+296.0%	-$2.5M-115.3%	$16.6M+243.9%	-$11.5M-179.4%	$14.5M
Net Income	$24.7M-28.0%	$34.3M+52.1%	$22.5M+35.4%	$16.7M+111.0%	$7.9M+103.3%	-$237.9M-252.6%	-$67.5M+9.8%	-$74.8M
EPS (Diluted)	$0.28	N/A	$0.23+15.0%	$0.20+100.0%	$0.10	N/A	$-0.93+10.6%	$-1.04

PGYWW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.5B+19.7%	$1.3B+6.8%	$1.2B+15.6%	$1.0B+77.1%	$590.3M	N/A
Current Assets	N/A	$351.5M+15.8%	$303.4M-27.7%	$419.8M+70.3%	$246.5M	N/A
Cash & Equivalents	$235.3M+25.2%	$187.9M+0.8%	$186.5M-39.8%	$309.8M+62.4%	$190.8M+3665.9%	$5.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$22.9M-0.7%	$23.1M+110.7%	$10.9M	$0	N/A	N/A
Total Liabilities	$960.5M+23.9%	$775.3M+65.5%	$468.4M-4.7%	$491.6M-16.5%	$589.0M	N/A
Current Liabilities	N/A	$195.5M+160.9%	$74.9M-41.5%	$128.0M+346.5%	$28.7M	N/A
Long-Term Debt	N/A	$321.3M	N/A	N/A	N/A	N/A
Total Equity	$480.0M+47.0%	$326.5M-41.7%	$559.7M+1.1%	$553.5M+42742.1%	$1.3M-98.5%	$88.1M
Retained Earnings	-$862.7M+8.6%	-$944.0M-74.0%	-$542.6M-31.0%	-$414.2M-270.2%	-$111.9M	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.6B+6.6%	$1.5B+6.2%	$1.5B+4.0%	$1.4B+9.4%	$1.3B-1.0%	$1.3B-5.8%	$1.4B-5.7%	$1.5B
Current Assets	N/A	N/A	N/A	$362.5M+1.9%	$355.6M+1.2%	$351.5M+17.8%	$298.5M-17.4%	$361.2M
Cash & Equivalents	$317.8M+35.1%	$235.3M+7.8%	$218.3M+19.3%	$183.0M-2.0%	$186.8M-0.6%	$187.9M+27.8%	$147.1M-37.0%	$233.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$22.9M0.0%	$22.9M0.0%	$22.9M0.0%	$22.9M0.0%	$22.9M-0.7%	$23.1M+110.7%	$10.9M0.0%	$10.9M
Total Liabilities	$1.0B+6.1%	$960.5M+8.0%	$889.4M+3.8%	$856.8M+12.2%	$763.3M-1.5%	$775.3M+2.9%	$753.8M-1.2%	$763.2M
Current Liabilities	N/A	N/A	N/A	$254.5M+28.1%	$198.7M+1.6%	$195.5M-23.2%	$254.5M+5.5%	$241.3M
Long-Term Debt	N/A	N/A	N/A	N/A	$317.9M-1.1%	$321.3M+39.6%	$230.2M-1.0%	$232.6M
Total Equity	$529.3M+10.3%	$480.0M+9.5%	$438.3M+19.5%	$366.8M+9.3%	$335.5M+2.8%	$326.5M-29.4%	$462.3M-12.1%	$526.0M
Retained Earnings	-$838.0M+2.9%	-$862.7M+3.8%	-$897.0M+2.5%	-$919.5M+1.8%	-$936.1M+0.8%	-$944.0M-33.7%	-$706.1M-10.6%	-$638.6M

PGYWW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$238.6M+399.7%	$47.8M+320.5%	-$21.7M+45.9%	-$40.0M-180.3%	$49.8M+1070.1%	$4.3M
Capital Expenditures	$13.9M-21.6%	$17.7M-12.1%	$20.2M-9.9%	$22.4M+238.3%	$6.6M+503.8%	$1.1M
Free Cash Flow	$224.7M+648.7%	$30.0M+171.7%	-$41.8M+32.9%	-$62.4M-244.5%	$43.2M+1266.7%	$3.2M
Investing Cash Flow	-$309.7M+35.5%	-$479.9M-25.8%	-$381.5M-43.7%	-$265.4M-88.6%	-$140.7M-14.6%	-$122.8M
Financing Cash Flow	$129.6M-70.3%	$436.7M+51.1%	$289.1M-34.0%	$437.9M+51.2%	$289.6M+142.4%	$119.5M
Dividends Paid	N/A	N/A	N/A	N/A	$23.6M	N/A
Share Buybacks	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	$43.2M-45.9%	$79.8M+19.0%	$67.0M+16.9%	$57.4M+66.6%	$34.4M+23.6%	$27.9M+491.9%	-$7.1M-176.5%	$9.3M
Capital Expenditures	$3.2M+2.9%	$3.1M-4.8%	$3.2M-14.7%	$3.8M+0.6%	$3.8M-5.0%	$4.0M-6.1%	$4.2M-3.3%	$4.4M
Free Cash Flow	$40.0M-47.8%	$76.7M+20.2%	$63.8M+19.2%	$53.5M+74.7%	$30.7M+28.4%	$23.9M+310.5%	-$11.3M-330.8%	$4.9M
Investing Cash Flow	-$15.9M+84.1%	-$100.2M-74.7%	-$57.3M+54.2%	-$125.3M-366.1%	-$26.9M+15.3%	-$31.8M+70.0%	-$105.8M+7.4%	-$114.2M
Financing Cash Flow	$64.2M+50.5%	$42.7M+248.3%	$12.3M-84.4%	$78.4M+2175.4%	-$3.8M-107.7%	$48.8M+91.5%	$25.5M-60.0%	$63.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PGYWW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	42.4%+0.3pp	42.1%+4.8pp	37.3%-2.4pp	39.8%-11.3pp	51.0%+0.6pp	50.4%
Operating Margin	20.3%+13.8pp	6.5%+9.5pp	-3.0%+30.6pp	-33.6%-32.4pp	-1.2%-22.7pp	21.5%
Net Margin	6.3%+45.1pp	-38.9%-23.1pp	-15.8%+24.6pp	-40.4%-21.2pp	-19.2%-33.8pp	14.6%
Return on Equity	17.0%+139.9pp	-123.0%-100.0pp	-22.9%+31.7pp	-54.6%+7000.4pp	-7055.0%-7071.4pp	16.4%
Return on Assets	5.3%+36.4pp	-31.1%-20.5pp	-10.6%+18.3pp	-28.9%-13.5pp	-15.4%	N/A
Current Ratio	N/A	1.80-2.3	4.05+0.8	3.28-5.3	8.60	N/A
Debt-to-Equity	2.00+1.0	0.98+0.1	0.84-0.1	0.89-455.0	455.86	N/A
FCF Margin	17.3%+14.4pp	2.9%+8.1pp	-5.1%+3.2pp	-8.3%-17.4pp	9.1%+5.9pp	3.2%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	44.1%+0.9pp	43.2%+0.5pp	42.7%+1.4pp	41.3%-1.0pp	42.4%-1.0pp	43.4%+1.3pp	42.1%+0.3pp	41.8%
Operating Margin	25.2%+1.3pp	23.8%+1.0pp	22.8%+5.5pp	17.3%+0.9pp	16.4%+5.1pp	11.4%+2.7pp	8.7%+6.7pp	2.0%
Net Margin	7.8%-2.5pp	10.2%+3.8pp	6.4%+1.3pp	5.1%+2.4pp	2.7%+87.9pp	-85.2%-58.9pp	-26.2%+3.6pp	-29.9%
Return on Equity	4.7%-2.5pp	7.1%+2.0pp	5.1%+0.6pp	4.5%+2.2pp	2.4%+75.2pp	-72.9%-58.3pp	-14.6%-0.4pp	-14.2%
Return on Assets	1.5%-0.7pp	2.2%+0.7pp	1.6%+0.4pp	1.2%+0.6pp	0.6%+19.1pp	-18.4%-13.5pp	-4.9%+0.2pp	-5.1%
Current Ratio	N/A	N/A	N/A	1.42-0.4	1.790.0	1.80+0.6	1.17-0.3	1.50
Debt-to-Equity	1.93-0.1	2.00-0.0	2.03-0.3	2.34+1.4	0.95-0.0	0.98+0.5	0.50+0.1	0.44
FCF Margin	12.6%-10.3pp	22.9%+4.7pp	18.2%+1.8pp	16.4%+5.8pp	10.6%+2.0pp	8.6%+13.0pp	-4.4%-6.4pp	2.0%

Frequently Asked Questions

What is Pagaya Technologies Ltd's annual revenue?

Pagaya Technologies Ltd (PGYWW) reported $1.3B in total revenue for fiscal year 2025. This represents a 26.1% 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 Pagaya Technologies Ltd's revenue growing?

Pagaya Technologies Ltd (PGYWW) revenue grew by 26.1% year-over-year, from $1.0B to $1.3B in fiscal year 2025.

Is Pagaya Technologies Ltd profitable?

Yes, Pagaya Technologies Ltd (PGYWW) reported a net income of $81.4M in fiscal year 2025, with a net profit margin of 6.3%.

What is Pagaya Technologies Ltd's EBITDA?

Pagaya Technologies Ltd (PGYWW) had EBITDA of $293.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Pagaya Technologies Ltd's gross margin?

Pagaya Technologies Ltd (PGYWW) had a gross margin of 42.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Pagaya Technologies Ltd's operating margin?

Pagaya Technologies Ltd (PGYWW) had an operating margin of 20.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Pagaya Technologies Ltd's net profit margin?

Pagaya Technologies Ltd (PGYWW) had a net profit margin of 6.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Pagaya Technologies Ltd's return on equity (ROE)?

Pagaya Technologies Ltd (PGYWW) has a return on equity of 17.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pagaya Technologies Ltd's free cash flow?

Pagaya Technologies Ltd (PGYWW) generated $224.7M in free cash flow during fiscal year 2025. This represents a 648.7% 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 Pagaya Technologies Ltd's operating cash flow?

Pagaya Technologies Ltd (PGYWW) generated $238.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pagaya Technologies Ltd's total assets?

Pagaya Technologies Ltd (PGYWW) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Pagaya Technologies Ltd's capital expenditures?

Pagaya Technologies Ltd (PGYWW) invested $13.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Pagaya Technologies Ltd spend on research and development?

Pagaya Technologies Ltd (PGYWW) invested $75.2M in research and development during fiscal year 2025.

What is Pagaya Technologies Ltd's debt-to-equity ratio?

Pagaya Technologies Ltd (PGYWW) had a debt-to-equity ratio of 2.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pagaya Technologies Ltd's return on assets (ROA)?

Pagaya Technologies Ltd (PGYWW) had a return on assets of 5.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pagaya Technologies Ltd's Piotroski F-Score?

Pagaya Technologies Ltd (PGYWW) has a Piotroski F-Score of 6 out of 6 computable signals; 3 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 Pagaya Technologies Ltd's earnings high quality?

Pagaya Technologies Ltd (PGYWW) has an earnings quality ratio of 2.93x, 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 Pagaya Technologies Ltd?

Pagaya Technologies Ltd (PGYWW) scores 57 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.