Insulet Corporation (PODD) 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 3, 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 PODD SEC filings page.
Insulet Corporation (PODD) reported $3.1B in revenue over the twelve months to Jun 30, 2026, up 29.4% 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).
Cash-generative growth is reducing leverage, while a tax swing makes FY2025 net income understate operating progress.
Net income fell in FY2025 even as operating income rose, because the tax line moved from a$118M benefit to a$92M expense. That makes reported earnings a weaker read on the operating trend than cash flow, which better reflects the business’s underlying conversion.
Operating leverage is improving: operating margin widened from
Cash conversion is strong: operating cash flow of
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 Insulet 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.
Insulet Corporation has an operating margin of 17.5%, meaning the company retains $18 of operating profit per $100 of revenue. This strong profitability earns a score of 74/100, reflecting efficient cost management and pricing power. This is up from 14.9% the prior year.
Insulet Corporation's revenue surged 30.7% year-over-year to $2.7B, reflecting rapid business expansion. This strong growth earns a score of 88/100.
Insulet Corporation carries a low D/E ratio of 0.61, meaning only $0.61 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 65/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.81, Insulet Corporation holds $2.81 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.
Insulet Corporation converts 14.0% of revenue into free cash flow ($377.7M). This strong cash generation earns a score of 72/100.
Insulet Corporation earns a strong 16.3% return on equity (ROE), meaning it generates $16 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 72/100. This is down from 34.5% the prior year.
Insulet Corporation scores 5.20, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($9.1B) relative to total liabilities ($1.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Insulet Corporation passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Insulet Corporation generates $2.30 in operating cash flow ($569.3M OCF vs $247.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Insulet Corporation earns $7.98 in operating income for every $1 of interest expense ($473.8M vs $59.4M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Insulet Corporation generated $801.7M in revenue in Q2 2026. This represents an increase of 23.5% from the same quarter a year earlier. Against the prior quarter it is up 5.3%.
Insulet Corporation's EBITDA was $156.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.1% from the same quarter a year earlier. Against the prior quarter it is up 5.5%.
Insulet Corporation reported $95.0M in net income in Q2 2026. This represents an increase of 322.2% from the same quarter a year earlier. Against the prior quarter it is up 4.3%.
Insulet Corporation earned $1.37 per diluted share (EPS) in Q2 2026. This represents an increase of 328.1% from the same quarter a year earlier. Against the prior quarter it is up 5.4%.
Cash & Balance Sheet
Insulet Corporation generated $55.9M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 68.6% from the same quarter a year earlier. Against the prior quarter it is down 37.5%.
Insulet Corporation held $534.9M in cash against $929.5M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Insulet Corporation's gross margin was 70.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.7 percentage points.
Insulet Corporation's operating margin was 16.2% in Q2 2026, reflecting core business profitability. This is down 2.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.
Insulet Corporation's net profit margin was 11.8% in Q2 2026, showing the share of revenue converted to profit. This is up 8.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.
Insulet Corporation's ROE was 6.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 5.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
Capital Allocation
Insulet Corporation invested $88.1M in research and development in Q2 2026. This represents an increase of 20.0% from the same quarter a year earlier. Against the prior quarter it is down 1.8%.
Insulet Corporation repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.
Insulet Corporation invested $32.5M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 74.7% from the same quarter a year earlier. Against the prior quarter it is up 33.7%.
PODD 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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $801.7M+23.5% | $761.7M+33.9% | $783.7M+31.2% | $706.3M+29.9% | $649.1M+32.9% | $569.0M+28.8% | $597.5M+17.2% | $543.9M+25.7% |
| Cost of Revenue | $239.1M+21.4% | $232.7M+45.5% | $215.2M+29.2% | $196.2M+17.6% | $196.9M+24.9% | $159.9M+18.5% | $166.6M+12.1% | $166.8M+19.7% |
| Gross Profit | $562.6M+24.4% | $529.1M+29.4% | $568.6M+32.0% | $510.1M+35.3% | $452.2M+36.7% | $409.0M+33.3% | $430.9M+19.3% | $377.1M+28.6% |
| R&D Expenses | $88.1M+20.0% | $89.7M+50.5% | $90.9M+50.0% | $77.2M+40.6% | $73.4M+36.2% | $59.6M+18.7% | $60.6M+44.3% | $54.9M-5.0% |
| SG&A Expenses | $344.8M+33.8% | $317.2M+21.7% | $331.4M+27.0% | $315.2M+34.6% | $257.7M+15.8% | $260.7M+30.5% | $260.9M+22.7% | $234.1M+29.6% |
| Operating Income | $129.7M+7.1% | $122.1M+37.5% | $146.2M+33.6% | $117.7M+33.6% | $121.1M+122.2% | $88.8M+56.1% | $109.4M+2.7% | $88.1M+60.8% |
| EBITDA | $156.4M+9.1% | $148.3M+34.2% | $170.6M+30.3% | $139.7M+27.7% | $143.4M+94.6% | $110.5M+46.0% | $130.9M+4.5% | $109.4M+48.8% |
| Interest Expense | $13.5M-31.1% | $14.7M+59.8% | $15.0M+74.4% | $15.6M+25.8% | $19.6M+78.2% | $9.2M-14.0% | $8.6M+28.4% | $12.4M+19.2% |
| Income Tax | $23.7M+301.7% | $21.9M+72.4% | $38.6M+264.2% | $35.2M+551.9% | $5.9M+104.3% | $12.7M+273.5% | $10.6M+135.6% | $5.4M+200.0% |
| Net Income | $95.0M+322.2% | $91.1M+157.3% | $101.6M+0.9% | $87.6M+13.0% | $22.5M-88.1% | $35.4M-31.3% | $100.7M-2.5% | $77.5M+49.3% |
| EPS (Basic) | $1.37+328.1% | $1.30+160.0% | $1.440.0% | $1.24+11.7% | $0.32-88.1% | $0.50-32.4% | $1.44-2.7% | $1.11+50.0% |
| EPS (Diluted) | $1.37+328.1% | $1.30+160.0% | $1.43+3.6% | $1.24+14.8% | $0.32-87.6% | $0.50-31.5% | $1.38-6.1% | $1.08+45.9% |
| Diluted Shares (Avg) | 69M-1.8% | 70M-5.3% | N/A | 71M-4.4% | 71M-4.3% | 74M+0.5% | N/A | 74M+0.4% |
PODD 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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.2B-8.8% | $3.0B-15.1% | $3.2B+3.3% | $3.0B+0.1% | $3.5B+20.4% | $3.5B+34.0% | $3.1B+19.3% | $3.0B+22.6% |
| Current Assets | $1.8B-18.9% | $1.7B-26.6% | $1.9B+1.2% | $1.9B-0.1% | $2.3B+30.4% | $2.3B+43.9% | $1.9B+19.5% | $1.9B+26.5% |
| Cash & Equivalents | $534.9M-52.3% | $480.4M-62.6% | $716.1M-24.9% | $757.4M-16.1% | $1.1B+36.6% | $1.3B+70.8% | $953.4M+35.4% | $902.6M+31.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $484.8M+8.5% | $462.5M+4.9% | $452.6M+5.2% | $446.3M+0.3% | $446.9M+3.7% | $440.8M+2.4% | $430.4M+6.9% | $444.9M+8.3% |
| Accounts Receivable | $588.7M | $544.7M | $516.9M | N/A | N/A | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $51.6M-0.2% | $51.6M+0.2% | $51.6M+0.2% | $51.6M-0.2% | $51.7M0.0% | $51.5M-0.4% | $51.5M-0.4% | $51.7M0.0% |
| Total Liabilities | $1.7B-13.1% | $1.7B-23.0% | $1.7B-10.7% | $1.6B-13.8% | $2.0B+6.5% | $2.2B+19.3% | $1.9B+1.1% | $1.9B+2.5% |
| Current Liabilities | $744.2M-26.3% | $687.5M+32.1% | $680.1M+28.7% | $647.7M+28.0% | $1.0B+107.8% | $520.4M+20.4% | $528.4M+17.1% | $506.2M+12.1% |
| Non-Current Liabilities | $998.7M+0.3% | $997.1M-40.2% | $995.1M-26.2% | $997.4M-28.8% | $996.2M-28.7% | $1.7B+18.9% | $1.3B-4.0% | $1.4B-0.5% |
| Long-Term Debt | $929.5M-1.0% | $929.5M-42.3% | $930.8M-28.2% | $934.9M-31.1% | $939.0M-31.0% | $1.6B+18.3% | $1.3B-5.1% | $1.4B-1.0% |
| Total Equity | $1.4B-2.8% | $1.3B-2.1% | $1.5B+25.1% | $1.4B+23.8% | $1.5B+46.5% | $1.3B+68.3% | $1.2B+65.4% | $1.1B+84.0% |
| Retained Earnings | $473.5M+382.2% | $378.5M+400.0% | $287.4M+613.2% | $185.8M+407.6% | $98.2M+171.2% | $75.7M+123.2% | $40.3M+110.7% | -$60.4M+87.5% |
PODD 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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $88.4M-55.0% | $113.8M+78.4% | $183.3M+24.3% | $125.7M+16.1% | $196.5M+126.4% | $63.8M-27.2% | $147.5M+226.3% | $108.3M+93.4% |
| Depreciation & Amortization | $26.7M+19.7% | $26.2M+20.7% | $24.4M+13.5% | $22.0M+3.3% | $22.3M+16.1% | $21.7M+15.4% | $21.5M+14.4% | $21.3M+13.9% |
| Stock-Based Compensation | $19.7M+162.7% | $21.3M+17.0% | N/A | $16.7M-8.2% | $7.5M-55.9% | $18.2M+28.2% | N/A | $18.2M+73.3% |
| Capital Expenditures | $32.5M+74.7% | $24.3M+97.6% | $135.1M+152.1% | $25.6M-4.1% | $18.6M-17.3% | $12.3M-44.3% | $53.6M+82.9% | $26.7M+32.8% |
| Free Cash Flow | $55.9M-68.6% | $89.5M+73.8% | $48.2M-48.7% | $100.1M+22.7% | $177.9M+176.7% | $51.5M-21.4% | $93.9M+490.6% | $81.6M+127.3% |
| Investing Cash Flow | -$37.4M-60.5% | -$27.7M-77.6% | -$152.8M-124.7% | -$31.0M-5.8% | -$23.3M+6.4% | -$15.6M+35.0% | -$68.0M-115.2% | -$29.3M-29.6% |
| Financing Cash Flow | $4.0M+101.2% | -$319.9M-215.2% | -$72.5M-248.6% | -$457.0M-23952.6% | -$343.5M-4003.4% | $277.7M+2069.5% | -$20.8M-1045.5% | -$1.9M+72.5% |
| Share Buybacks | $0-100.0% | $300.0M | $0 | $29.5M | $30.1M | $0 | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
PODD 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-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.2%+0.5pp | 69.5%-2.4pp | 72.5%+0.4pp | 72.2%+2.9pp | 69.7%+1.9pp | 71.9%+2.4pp | 72.1%+1.3pp | 69.3%+1.6pp |
| Operating Margin | 16.2%-2.5pp | 16.0%+0.4pp | 18.7%+0.3pp | 16.7%+0.5pp | 18.7%+7.5pp | 15.6%+2.7pp | 18.3%-2.6pp | 16.2%+3.5pp |
| Net Margin | 11.8%+8.4pp | 12.0%+5.7pp | 13.0%-3.9pp | 12.4%-1.8pp | 3.5%-35.1pp | 6.2%-5.4pp | 16.9%-3.4pp | 14.2%+2.3pp |
| Return on Equity | 6.7%+5.1pp | 7.0%+4.3pp | 6.7%-1.6pp | 6.3%-0.6pp | 1.5%-17.4pp | 2.7%-3.9pp | 8.3%-5.8pp | 6.9%-1.6pp |
| Return on Assets | 3.0%+2.4pp | 3.0%+2.0pp | 3.2%-0.1pp | 2.9%+0.3pp | 0.7%-5.9pp | 1.0%-0.9pp | 3.3%-0.7pp | 2.6%+0.5pp |
| Current Ratio | 2.48+0.2x | 2.49-2.0x | 2.81-0.8x | 2.87-0.8x | 2.26-1.3x | 4.47+0.7x | 3.58+0.1x | 3.68+0.4x |
| Debt-to-Equity | 0.650.0x | 0.71-0.5x | 0.61-0.5x | 0.68-0.5x | 0.64-0.7x | 1.21-0.5x | 1.07-0.8x | 1.21-1.0x |
| Asset Turnover | 0.25+0.1x | 0.26+0.1x | 0.25+0.1x | 0.23+0.1x | 0.190.0x | 0.160.0x | 0.190.0x | 0.180.0x |
| FCF Margin | 7.0%-20.4pp | 11.8%+2.7pp | 6.2%-9.6pp | 14.2%-0.8pp | 27.4%+14.3pp | 9.0%-5.8pp | 15.7%+12.6pp | 15.0%+6.7pp |
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 |
|---|---|---|---|---|---|---|
| Insulet Corporation PODD | FY2025 | $2.7B | $247.1M | 9.1% | $9.1B | 75/100 |
| STERIS plc STE | FY2026 | $5.9B | $782.3M | 13.2% | $20.3B | 66/100 |
| DexCom, Inc. DXCM | FY2025 | $4.7B | $836.3M | 17.9% | $32.2B | 69/100 |
| Zimmer Biomet Holdings, Inc. ZBH | FY2025 | $8.2B | $705.1M | 8.6% | $16.8B | 59/100 |
| Smith & Nephew plc SNN | FY2025 | $6.2B | $625.0M | 10.1% | $11.1B | 35/100 |
Where Insulet Corporation Ranks
Frequently Asked Questions
What is Insulet Corporation's annual revenue?
Insulet Corporation (PODD) reported $2.7B in total revenue for fiscal year 2025. This represents a 30.7% 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 Insulet Corporation's revenue growing?
Insulet Corporation (PODD) revenue grew by 30.7% year-over-year, from $2.1B to $2.7B in fiscal year 2025.
Is Insulet Corporation profitable?
Yes, Insulet Corporation (PODD) reported a net income of $247.1M in fiscal year 2025, with a net profit margin of 9.1%.
What is Insulet Corporation's EBITDA?
Insulet Corporation (PODD) had EBITDA of $564.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Insulet Corporation have?
As of fiscal year 2025, Insulet Corporation (PODD) had $716.1M in cash and equivalents against $930.8M in long-term debt.
What is Insulet Corporation's gross margin?
Insulet Corporation (PODD) had a gross margin of 71.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Insulet Corporation's operating margin?
Insulet Corporation (PODD) had an operating margin of 17.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Insulet Corporation's net profit margin?
Insulet Corporation (PODD) had a net profit margin of 9.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Insulet Corporation's return on equity (ROE)?
Insulet Corporation (PODD) has a return on equity of 16.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Insulet Corporation's free cash flow?
Insulet Corporation (PODD) generated $377.7M in free cash flow during fiscal year 2025. This represents a 23.7% 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 Insulet Corporation's operating cash flow?
Insulet Corporation (PODD) generated $569.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Insulet Corporation's total assets?
Insulet Corporation (PODD) had $3.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Insulet Corporation's capital expenditures?
Insulet Corporation (PODD) invested $191.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Insulet Corporation spend on research and development?
Insulet Corporation (PODD) invested $301.1M in research and development during fiscal year 2025.
What is Insulet Corporation's current ratio?
Insulet Corporation (PODD) had a current ratio of 2.81 as of fiscal year 2025, which is generally considered healthy.
What is Insulet Corporation's debt-to-equity ratio?
Insulet Corporation (PODD) had a debt-to-equity ratio of 0.61 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Insulet Corporation's return on assets (ROA)?
Insulet Corporation (PODD) had a return on assets of 7.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Insulet Corporation's P/E ratio?
Insulet Corporation (PODD) trades at 24.3x earnings, its market capitalization divided by net income of $375.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $9.1B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Insulet Corporation's price-to-sales ratio?
Insulet Corporation (PODD) trades at 3.0x sales, its market capitalization divided by revenue of $3.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $9.1B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Insulet Corporation's Altman Z-Score?
Insulet Corporation (PODD) has an Altman Z-Score of 5.20, placing it in the Safe Zone (low 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 Insulet Corporation's Piotroski F-Score?
Insulet Corporation (PODD) 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.
Are Insulet Corporation's earnings high quality?
Insulet Corporation (PODD) has an earnings quality ratio of 2.30x, 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 Insulet Corporation cover its interest payments?
Insulet Corporation (PODD) has an interest coverage ratio of 7.98x, meaning it can comfortably 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 Insulet Corporation?
Insulet Corporation (PODD) scores 75 out of 100 on our Financial Health Score, indicating strong 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.