QT Imaging Holdings, Inc. (QTI) 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 Sep 19, 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 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the QTI SEC filings page.
QT Imaging Holdings, Inc. (QTI) reported $26.4M in revenue over the twelve months to Jun 30, 2026, up 220.0% 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).
Operating-cost absorption supported rapid revenue scaling, while financing—not earnings—rebuilt the balance sheet.
Revenue reached$18.9M in FY2025 as gross margin narrowed to45.4% from FY2024, so the improvement was not driven by richer unit economics. Meanwhile, operating loss narrowed to$4.4M while SG&A fell to$9.1M , indicating scale came mainly from cost absorption rather than price-led expansion.
Despite much higher sales, FY2025 operating cash flow was
Equity moved from
Financial Health Signals
Scored against emerging 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 QT Imaging Holdings, Inc.'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.
QT Imaging Holdings, Inc. held $10.4M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $9.0M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and QT Imaging Holdings, Inc. scores 36/100 among other emerging companies.
QT Imaging Holdings, Inc. had 12M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and QT Imaging Holdings, Inc. scores 81/100 among other emerging companies.
QT Imaging Holdings, Inc. spent $3.9M on research and development in fiscal year 2025, which was 16.8% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and QT Imaging Holdings, Inc. scores 47/100 among other emerging companies.
QT Imaging Holdings, Inc. reported revenue of $18.9M in fiscal year 2025, against $4.9M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and QT Imaging Holdings, Inc. scores 99/100 among other emerging companies.
QT Imaging Holdings, Inc.'s operations used $9.0M of cash in fiscal year 2025, against $10.0M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and QT Imaging Holdings, Inc. scores 9/100 among other emerging companies.
QT Imaging Holdings, Inc.'s cash, cash equivalents and investments came to $10.4M at the end of fiscal year 2025, against $16.6M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and QT Imaging Holdings, Inc. scores 47/100 among other emerging companies.
QT Imaging Holdings, Inc. scores -0.91, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($38.2M) relative to total liabilities ($16.6M). 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.
QT Imaging Holdings, Inc. passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
QT Imaging Holdings, Inc. reported a net loss of $21.1M while operations used $9.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
QT Imaging Holdings, Inc. reported an operating loss of $4.4M against $2.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
QT Imaging Holdings, Inc. generated $7.4M in revenue in Q2 2026. This represents an increase of 103.2% from the same quarter a year earlier. Against the prior quarter it is up 13.9%.
QT Imaging Holdings, Inc.'s EBITDA was -$1.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 83.4% from the same quarter a year earlier. Against the prior quarter it is up 20.9%.
QT Imaging Holdings, Inc. reported -$11.1M in net income in Q2 2026. This represents a decrease of 176.6% from the same quarter a year earlier. Against the prior quarter it is down 225.0%.
QT Imaging Holdings, Inc. earned -$0.75 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 200.0%.
Cash & Balance Sheet
QT Imaging Holdings, Inc. recorded an outflow of $5.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 236.3% from the same quarter a year earlier. Against the prior quarter it is down 36.5%.
QT Imaging Holdings, Inc. held $10.9M in cash against $11.4M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
QT Imaging Holdings, Inc.'s gross margin was 41.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 8.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.
QT Imaging Holdings, Inc.'s operating margin was -25.1% in Q2 2026, reflecting core business profitability. This is up 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.9 percentage points.
QT Imaging Holdings, Inc.'s ROE was -492.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is down 403.2 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
QT Imaging Holdings, Inc. invested $1.6M in research and development in Q2 2026. This represents an increase of 80.2% from the same quarter a year earlier. Against the prior quarter it is down 5.8%.
QT Imaging Holdings, Inc. invested $174K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 270.2% from the same quarter a year earlier. Against the prior quarter it is up 923.5%.
Not reported for Q2 2026.
QTI 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 | $7.4M+103.2% | $6.5M+133.4% | $8.3M+877.3% | $4.2M+338.5% | $3.7M+113.5% | $2.8M+105.4% | $847K+17004.3% | $956K+3777.1% |
| Cost of Revenue | $4.4M+138.8% | $3.9M+291.3% | $5.1M+1049.1% | $2.4M+581.4% | $1.8M+118.2% | $986K+63.8% | $447K+626.6% | $351K+1373.5% |
| Gross Profit | $3.1M+67.5% | $2.7M+47.5% | $3.1M+685.5% | $1.8M+197.8% | $1.8M+108.9% | $1.8M+138.4% | $400K+807.6% | $605K+70448.1% |
| R&D Expenses | $1.6M+80.2% | $1.7M+102.3% | $1.2M+60.7% | $939K+1.5% | $901K-2.6% | $852K+32.6% | $774K+92.5% | $925K+196.7% |
| SG&A Expenses | $3.3M+67.6% | $3.3M+64.7% | $2.6M+54.9% | $2.5M+25.3% | $2.0M-9.2% | $2.0M-64.9% | $1.7M+372.4% | $2.0M+115.3% |
| Operating Income | -$1.9M-78.7% | -$2.3M-125.4% | -$700K+65.9% | -$1.7M+29.0% | -$1.0M+53.0% | -$1.0M+81.3% | -$2.1M-152.0% | -$2.3M-87.2% |
| EBITDA | -$1.8M-83.4% | -$2.3M-132.0% | -$684K+66.2% | -$1.6M+30.1% | -$1.0M+52.9% | -$1.0M+81.7% | -$2.0M-193.9% | -$2.3M-106.0% |
| Interest Expense | $745K+96.6% | $930K+34.6% | $1.0M-25.5% | $565K-61.2% | $379K-65.4% | $691K+15.4% | $1.3M+2150.2% | $1.5M+2302.6% |
| Income Tax | $2K-33.3% | N/A | N/A | $0 | $3K | N/A | N/A | $0-100.0% |
| Net Income | -$11.1M-176.6% | -$3.4M+69.4% | -$1.4M+60.2% | -$4.6M-25.9% | -$4.0M-220.4% | -$11.1M-1671.6% | -$3.5M-131.0% | -$3.6M-163.1% |
| EPS (Basic) | -$0.75-78.6% | -$0.25+79.3% | $0.08+157.1% | -$0.47+7.8% | -$0.42-40.0% | -$1.21-2320.0% | -$0.14-27.3% | -$0.51-264.3% |
| EPS (Diluted) | -$0.75 | -$0.25 | $0.08+157.1% | -$0.47+7.8% | -$0.42 | -$1.21-2320.0% | -$0.14 | -$0.51-264.3% |
| Diluted Shares (Avg) | 15M | 14M | N/A | 10M+34.2% | 9M | 9M-30.6% | N/A | 7M-25.0% |
QTI 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 | $30.6M+163.3% | $22.0M+102.7% | $23.0M+278.2% | $12.1M+74.1% | $11.6M+7.9% | $10.9M-15.5% | $6.1M-9.2% | $7.0M-69.9% |
| Current Assets | $29.4M+175.8% | $21.2M+116.0% | $22.1M+349.3% | $11.3M+95.4% | $10.7M+12.4% | $9.8M-14.2% | $4.9M+2.0% | $5.8M+4348.4% |
| Cash & Equivalents | $10.9M+440.3% | $6.9M+129.4% | $10.4M+788.4% | $1.7M+10.9% | $2.0M-56.1% | $3.0M-46.7% | $1.2M+534.6% | $1.6M+2770.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $9.9M+205.5% | $6.8M+137.6% | $5.0M+60.0% | $5.2M+64.8% | $3.2M-3.7% | $2.9M-30.2% | $3.1M-28.9% | $3.2M |
| Accounts Receivable | $7.4M+102.8% | $6.4M+128.3% | $5.8M+8528.4% | $3.2M+1162.7% | $3.7M+445.7% | $2.8M+476.8% | $67K+5093.8% | $257K |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $28.4M+137.4% | $18.2M-41.3% | $16.6M+6.1% | $21.2M+27.6% | $12.0M-29.4% | $31.1M+74.8% | $15.6M+30.0% | $16.6M-39.8% |
| Current Liabilities | $9.5M+50.6% | $8.5M+61.4% | $7.9M-19.7% | $12.7M+134.5% | $6.3M-58.7% | $5.3M+20.8% | $9.8M+33.5% | $5.4M-39.2% |
| Non-Current Liabilities | $18.9M+234.3% | $9.7M-62.4% | $8.7M+49.3% | $8.5M-24.4% | $5.6M+237.9% | $25.8M+92.4% | $5.8M+24.6% | $11.2M-40.1% |
| Long-Term Debt | $11.4M+12.4% | $10.1M-0.6% | $10.1M+1.8% | $15.1M+44.3% | $10.1M-13.1% | $10.2M-13.1% | $9.9M | $10.5M |
| Total Equity | $2.2M+793.2% | $3.8M+118.8% | $6.4M+167.6% | -$9.1M+6.0% | -$324K+94.7% | -$20.2M-311.2% | -$9.5M-79.6% | -$9.7M-116.5% |
| Retained Earnings | -$67.5M-43.4% | -$56.4M-31.0% | -$53.0M-66.0% | -$51.6M-81.5% | -$47.1M-89.6% | -$43.1M-134.1% | -$31.9M-79.7% | -$28.5M-72.1% |
Not reported in any period shown, so not listed: Goodwill.
QTI 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 | -$4.8M-235.2% | -$3.7M-3.3% | -$3.1M-152.8% | -$879K+52.5% | -$1.4M-47.3% | -$3.5M+40.8% | -$1.2M-79.0% | -$1.9M-316.6% |
| Depreciation & Amortization | $21K-44.7% | $20K-47.4% | $16K-41.9% | $40K+102.7% | $38K-55.8% | $38K-61.6% | $27K-78.6% | $20K-84.1% |
| Stock-Based Compensation | $668K+205.0% | $381K+277.2% | N/A | $199K+56.3% | $219K | $101K+159.1% | N/A | $127K-34.9% |
| Capital Expenditures | $174K+270.2% | $17K | $77K+44.5% | -$182-97.6% | $47K | $0 | $53K+312.3% | $8K-69.4% |
| Free Cash Flow | -$5.0M-236.3% | -$3.7M-3.8% | -$3.2M-148.3% | -$879K+52.7% | -$1.5M | -$3.5M | -$1.3M-83.3% | -$1.9M-296.2% |
| Investing Cash Flow | -$174K-270.2% | -$17K | -$77K-44.5% | $182+102.4% | -$47K | $0 | -$53K-512.3% | -$8K+69.4% |
| Financing Cash Flow | $9.0M+1624.2% | $159K-97.0% | $11.9M+1211.8% | $572K+148.5% | $524K+1709.9% | $5.4M-53.2% | $908K+13.1% | -$1.2M-540.1% |
| Dividends Paid | N/A | N/A | $0-100.0% | $0 | N/A | N/A | $498 | $0 |
Not reported in any period shown, so not listed: Share Buybacks.
QTI 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 | 41.2%-8.8pp | 40.9%-23.8pp | 38.0%-9.3pp | 43.0%-20.3pp | 49.9%-1.1pp | 64.8%+9.0pp | 47.2% | 63.3%+59.8pp |
| Operating Margin | -25.1%+3.4pp | -36.0%+1.3pp | -8.5% | -39.4% | -28.5% | -37.2% | -242.2% | -243.4% |
| Net Margin | -148.9% | -52.2% | -16.8% | -108.7% | -109.4% | -398.0% | -411.9% | -378.6% |
| Return on Equity | -492.9% | -89.7% | -21.5% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -36.1%-1.7pp | -15.5%+87.0pp | -6.0%+51.3pp | -37.6%+14.4pp | -34.4%-22.8pp | -102.5%-97.6pp | -57.3%-34.8pp | -52.0%-46.1pp |
| Current Ratio | 3.10+1.4x | 2.49+0.6x | 2.81+2.3x | 0.89-0.2x | 1.69+1.1x | 1.86-0.8x | 0.50-0.2x | 1.06+1.0x |
| Debt-to-Equity | 5.07 | 2.66 | 1.57 | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.24-0.1x | 0.300.0x | 0.36+0.2x | 0.35+0.2x | 0.31+0.2x | 0.26+0.2x | 0.14+0.1x | 0.14+0.1x |
| FCF Margin | -67.4%-26.7pp | -56.2% | -38.4% | -21.0% | -40.7% | -126.4% | -151.2% | -194.5% |
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: Operating Margin, Net Margin, FCF Margin.
Where QT Imaging Holdings, Inc. Ranks
Frequently Asked Questions
What is QT Imaging Holdings, Inc.'s annual revenue?
QT Imaging Holdings, Inc. (QTI) reported $18.9M in total revenue for fiscal year 2025. This represents a 287.9% 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 QT Imaging Holdings, Inc.'s revenue growing?
QT Imaging Holdings, Inc. (QTI) revenue grew by 287.9% year-over-year, from $4.9M to $18.9M in fiscal year 2025.
Is QT Imaging Holdings, Inc. profitable?
No, QT Imaging Holdings, Inc. (QTI) reported a net income of -$21.1M in fiscal year 2025.
What is QT Imaging Holdings, Inc.'s EBITDA?
QT Imaging Holdings, Inc. (QTI) had EBITDA of -$4.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does QT Imaging Holdings, Inc. have?
As of fiscal year 2025, QT Imaging Holdings, Inc. (QTI) had $10.4M in cash and equivalents against $10.1M in long-term debt.
What is QT Imaging Holdings, Inc.'s gross margin?
QT Imaging Holdings, Inc. (QTI) had a gross margin of 45.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is QT Imaging Holdings, Inc.'s operating margin?
QT Imaging Holdings, Inc. (QTI) had an operating margin of -23.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is QT Imaging Holdings, Inc.'s return on equity (ROE)?
QT Imaging Holdings, Inc. (QTI) has a return on equity of -327.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is QT Imaging Holdings, Inc.'s free cash flow?
QT Imaging Holdings, Inc. (QTI) recorded an outflow of $9.1M in free cash flow during fiscal year 2025. This represents a 10.3% 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 QT Imaging Holdings, Inc.'s operating cash flow?
QT Imaging Holdings, Inc. (QTI) recorded an outflow of $9.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are QT Imaging Holdings, Inc.'s total assets?
QT Imaging Holdings, Inc. (QTI) had $23.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are QT Imaging Holdings, Inc.'s capital expenditures?
QT Imaging Holdings, Inc. (QTI) invested $124K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does QT Imaging Holdings, Inc. spend on research and development?
QT Imaging Holdings, Inc. (QTI) invested $3.9M in research and development during fiscal year 2025.
What is QT Imaging Holdings, Inc.'s current ratio?
QT Imaging Holdings, Inc. (QTI) had a current ratio of 2.81 as of fiscal year 2025, which is generally considered healthy.
What is QT Imaging Holdings, Inc.'s debt-to-equity ratio?
QT Imaging Holdings, Inc. (QTI) had a debt-to-equity ratio of 1.57 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is QT Imaging Holdings, Inc.'s return on assets (ROA)?
QT Imaging Holdings, Inc. (QTI) had a return on assets of -91.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is QT Imaging Holdings, Inc.'s P/E ratio?
QT Imaging Holdings, Inc. (QTI) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $38.2M as of Sep 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is QT Imaging Holdings, Inc.'s price-to-sales ratio?
QT Imaging Holdings, Inc. (QTI) trades at 1.4x sales, its market capitalization divided by revenue of $26.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $38.2M as of Sep 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does QT Imaging Holdings, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, QT Imaging Holdings, Inc. (QTI) held $10.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $9.0M over that year. Dividing the one by the other, the reported balance equals about 14 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is QT Imaging Holdings, Inc.'s Altman Z-Score?
QT Imaging Holdings, Inc. (QTI) has an Altman Z-Score of -0.91, 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 QT Imaging Holdings, Inc.'s Piotroski F-Score?
QT Imaging Holdings, Inc. (QTI) 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 QT Imaging Holdings, Inc.'s earnings high quality?
QT Imaging Holdings, Inc. (QTI) reported a net loss of $21.1M while operations used $9.0M of cash. With neither figure positive, 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.
Can QT Imaging Holdings, Inc. cover its interest payments?
QT Imaging Holdings, Inc. (QTI) reported an operating loss of $4.4M against $2.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 QT Imaging Holdings, Inc.?
QT Imaging Holdings, Inc. (QTI) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.