Vanda Pharma Financials
Vanda Pharma (VNDA) reported $216.1M in revenue for fiscal year 2025, up 8.7% from the prior fiscal year. 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).
High gross margins are being overwhelmed by a rapidly expanding operating cost base, turning a once-profitable model into a very cash-burning one.
The last three fiscal years show the key operating shift: gross margin stayed above92.0% the whole time. Meanwhile, operating margin fell from-7.2% to-69.9% , indicating the underlying product economics held up while the selling and R&D structure expanded far beyond what the revenue base could absorb.
In the latest year, SG&A plus R&D reached
Cash burn was severe but still lighter than the accounting loss: operating cash flow was
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 Vanda Pharma'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.
Vanda Pharma has an operating margin of -70.0%, meaning the company loses $70 on every $100 of revenue. This results in a profitability score of 14/100. This is down from -20.5% the prior year.
Vanda Pharma's revenue grew 8.7% year-over-year to $216.1M, a solid pace of expansion. This earns a growth score of 54/100.
Vanda Pharma has a moderate D/E ratio of 0.49. This balance of debt and equity financing earns a leverage score of 60/100.
With a current ratio of 2.39, Vanda Pharma holds $2.39 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 67/100.
Vanda Pharma's operations used $109.4M of cash, and capex of $998K added to the outflow, for a free cash flow shortfall of $110.4M. This results in a cash flow score of 11/100.
Vanda Pharma posts a -67.4% return on equity (ROE), meaning it loses $67 for every $100 of shareholders' equity. This results in a returns score of 15/100. This is down from -3.5% the prior year.
Vanda Pharma scores 0.04, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($336.8M) relative to total liabilities ($161.8M). 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.
Vanda Pharma passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Vanda Pharma reported a net loss of $220.5M while operations used $109.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Vanda Pharma generated $216.1M in revenue in fiscal year 2025. This represents an increase of 8.7% from the prior year.
Vanda Pharma's EBITDA was -$140.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 335.6% from the prior year.
Vanda Pharma reported -$220.5M in net income in fiscal year 2025. This represents a decrease of 1066.7% from the prior year.
Vanda Pharma earned -$3.74 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1033.3% from the prior year.
Cash & Balance Sheet
Vanda Pharma recorded an outflow of $110.4M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 579.8% from the prior year.
Vanda Pharma held $84.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Vanda Pharma's gross margin was 94.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.
Vanda Pharma's operating margin was -70.0% in fiscal year 2025, reflecting core business profitability. This is down 49.5 percentage points from the prior year.
Vanda Pharma's ROE was -67.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 63.9 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Vanda Pharma invested $109.3M in research and development in fiscal year 2025. This represents an increase of 46.8% from the prior year.
Vanda Pharma invested $998K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 103.7% from the prior year.
Not reported for fiscal year 2025.
VNDA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $215.7M | $216.1M+8.7% | $198.8M+3.2% | $192.6M-24.3% | $254.4M-5.3% | $268.7M+8.3% | $248.2M+9.2% | $227.2M+17.6% | $193.1M+17.0% | $165.1M+13.1% | $146.0M+32.8% | $109.9M+119.2% | $50.2M+48.0% | $33.9M+3.5% | $32.7M+4.7% | $31.3M |
| Cost of Revenue | $13.5M | $13.0M+15.3% | $11.3M-23.5% | $14.8M-39.1% | $24.3M-5.3% | $25.6M+9.7% | $23.4M-4.6% | $24.5M+19.4% | $20.5M | N/A | N/A | $23.5M+1382.1% | $1.6M | N/A | $129K | N/A |
| Gross Profit | $202.2M | $203.1M+8.3% | $187.5M+5.4% | $177.8M-22.7% | $230.1M-5.3% | $243.1M+8.1% | $224.8M+10.9% | $202.7M+17.4% | $172.6M | N/A | N/A | $86.5M+78.0% | $48.6M | N/A | $32.6M | N/A |
| R&D Expenses | $117.0M | $109.3M+46.8% | $74.4M-3.1% | $76.8M-10.4% | $85.8M+13.8% | $75.4M+35.6% | $55.6M+14.2% | $48.6M+11.6% | $43.6M+13.1% | $38.5M+32.2% | $29.2M0.0% | $29.1M+51.6% | $19.2M-32.5% | $28.5M-37.7% | $45.8M+57.8% | $29.0M |
| SG&A Expenses | $263.4M | $238.0M+62.5% | $146.4M+29.7% | $112.9M-17.3% | $136.5M+10.0% | $124.0M-11.7% | $140.5M+8.3% | $129.7M+22.7% | $105.8M-14.6% | $123.8M+24.1% | $99.8M+18.0% | $84.5M-0.1% | $84.6M+237.5% | $25.1M+72.8% | $14.5M+26.4% | $11.5M |
| Operating Income | -$185.7M | -$151.2M-271.8% | -$40.7M-191.4% | -$14.0M-320.4% | $6.3M-85.0% | $42.2M+54.8% | $27.2M+19.4% | $22.8M+4.9% | $21.7M+228.6% | -$16.9M+9.0% | -$18.6M+53.8% | -$40.2M-300.3% | $20.1M+194.6% | -$21.2M+27.3% | -$29.2M-172.5% | -$10.7M |
| Income Tax | $97.7M | $81.8M+2135.0% | -$4.0M-205.0% | $3.8M-23.8% | $5.0M-45.5% | $9.2M+10.7% | $8.3M+109.6% | -$86.5M-62799.3% | $138K+1.5% | $136K+30.8% | $104K | $0 | $0 | $0 | N/A | -$444K |
| Net Income | -$274.9M | -$220.5M-1066.7% | -$18.9M-856.0% | $2.5M-60.3% | $6.3M-81.0% | $33.2M+42.3% | $23.3M-79.8% | $115.6M+358.4% | $25.2M+261.9% | -$15.6M+13.6% | -$18.0M+54.8% | -$39.9M-297.5% | $20.2M+195.9% | -$21.1M+26.4% | -$28.6M-192.0% | -$9.8M |
| EPS (Diluted) | — | -$3.74-1033.3% | -$0.33-925.0% | $0.04-63.6% | $0.11-81.0% | $0.58+38.1% | $0.42-80.1% | $2.11+339.6% | $0.48+237.1% | -$0.35+14.6% | -$0.41+56.4% | -$0.94-270.9% | $0.55+179.7% | -$0.69+31.7% | -$1.01-188.6% | -$0.35 |
Not reported in any period shown, so not listed: Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
VNDA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $488.9M-25.5% | $656.2M+1.2% | $648.4M+2.2% | $634.2M+6.8% | $593.8M+11.3% | $533.5M+10.3% | $483.7M+45.7% | $332.1M+61.7% | $205.4M-2.4% | $210.4M-1.3% | $213.1M+24.1% | $171.7M+19.8% | $143.3M+5.8% | $135.4M-25.8% | $182.6M |
| Current Assets | $347.3M-20.9% | $438.9M+1.4% | $432.9M-16.6% | $519.3M+8.6% | $478.3M+16.9% | $409.1M+15.5% | $354.1M+18.4% | $299.1M+76.1% | $169.9M-2.5% | $174.2M+4.6% | $166.5M+17.5% | $141.7M+4.5% | $135.6M+7.7% | $126.0M-17.9% | $153.5M |
| Cash & Equivalents | $84.9M-17.1% | $102.3M-24.7% | $135.8M+0.6% | $135.0M+159.3% | $52.1M-14.7% | $61.0M+35.4% | $45.1M-26.1% | $61.0M+81.4% | $33.6M-16.8% | $40.4M-20.5% | $50.8M-16.5% | $60.9M-6.0% | $64.8M-27.0% | $88.8M+1.0% | $87.9M |
| Inventory | $1.9M+7.3% | $1.7M+27.2% | $1.4M+13.7% | $1.2M+16.5% | $1.0M-19.9% | $1.3M+12.3% | $1.1M+14.7% | $994K+18.3% | $840K+7.8% | $779K-39.8% | $1.3M-75.0% | $5.2M | N/A | $57K | N/A |
| Accounts Receivable | $54.6M+15.9% | $47.1M+37.9% | $34.2M+1.9% | $33.5M+3.2% | $32.5M+8.1% | $30.0M+13.9% | $26.4M-8.4% | $28.8M+63.5% | $17.6M-13.2% | $20.3M+24.1% | $16.3M+346.9% | $3.7M+79.9% | $2.0M+73.9% | $1.2M-27.8% | $1.6M |
| Total Liabilities | $161.8M+37.5% | $117.7M+13.6% | $103.5M-3.3% | $107.0M+20.5% | $88.9M+10.8% | $80.2M+10.1% | $72.8M+28.4% | $56.7M-23.4% | $74.0M-6.3% | $79.0M-1.2% | $80.0M+635.0% | $10.9M-89.0% | $99.2M-21.0% | $125.5M-15.8% | $149.1M |
| Current Liabilities | $145.2M+45.2% | $100.0M+14.0% | $87.7M-4.1% | $91.4M+22.9% | $74.4M+12.9% | $65.9M+10.8% | $59.5M+12.2% | $53.0M-24.7% | $70.4M+39.8% | $50.3M-1.9% | $51.3M+559.1% | $7.8M-76.3% | $32.9M+1.8% | $32.3M+2.0% | $31.6M |
| Total Equity | $327.2M-39.2% | $538.5M-1.2% | $544.9M+3.4% | $527.2M+4.4% | $504.9M+11.4% | $453.3M+10.3% | $410.9M+49.2% | $275.4M+109.6% | $131.4M0.0% | $131.3M-1.3% | $133.0M-17.3% | $160.8M+264.5% | $44.1M+345.5% | $9.9M-70.4% | $33.5M |
| Retained Earnings | -$394.8M-126.5% | -$174.3M-12.2% | -$155.4M+1.6% | -$157.9M+3.8% | -$164.2M+16.8% | -$197.3M+10.6% | -$220.7M+34.4% | -$336.2M+7.0% | -$361.4M-4.5% | -$345.9M-5.5% | -$327.8M-13.8% | -$288.0M+6.6% | -$308.2M-5.9% | -$291.1M-10.5% | -$263.4M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
VNDA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$142.3M | -$109.4M-594.6% | -$15.8M-223.1% | $12.8M-60.0% | $32.0M-50.2% | $64.2M+24.0% | $51.8M+12.7% | $45.9M+53.2% | $30.0M+1612.2% | -$2.0M+75.5% | -$8.1M-165.1% | $12.4M+115.3% | -$81.6M-106.0% | -$39.6M+11.9% | -$44.9M-58.1% | -$28.4M |
| Capital Expenditures | $674K | $998K+103.7% | $490K+27.9% | $383K-43.6% | $679K+23.0% | $552K-69.2% | $1.8M+76.2% | $1.0M+176.9% | $368K-77.9% | $1.7M+18.3% | $1.4M-44.3% | $2.5M+228.6% | $769K+336.9% | $176K-91.3% | $2.0M+633.5% | $275K |
| Free Cash Flow | -$143.0M | -$110.4M-579.8% | -$16.2M-230.8% | $12.4M-60.3% | $31.3M-50.8% | $63.7M+27.4% | $50.0M+11.2% | $44.9M+51.7% | $29.6M+912.1% | -$3.6M+61.7% | -$9.5M-195.8% | $9.9M+112.1% | -$82.3M-107.0% | -$39.8M+15.3% | -$46.9M-63.6% | -$28.7M |
| Investing Cash Flow | $120.3M | $94.9M+644.2% | -$17.4M-44.6% | -$12.1M-124.1% | $49.9M+165.1% | -$76.7M-84.8% | -$41.5M+39.2% | -$68.3M+37.7% | -$109.7M-971.8% | -$10.2M | N/A | N/A | N/A | -$34.3M-174.9% | $45.8M-38.0% | $73.7M |
| Financing Cash Flow | -$2.8M | -$2.9M-1774.8% | -$155K | $0-100.0% | $734K-79.3% | $3.5M-37.0% | $5.6M-10.1% | $6.3M-94.2% | $107.1M+1940.1% | $5.3M | N/A | N/A | N/A | $49.9M+415391.7% | $12K-52.0% | $25K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
VNDA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.0%-0.4pp | 94.3%+2.0pp | 92.3%+1.9pp | 90.5%0.0pp | 90.5%-0.1pp | 90.6%+1.4pp | 89.2%-0.2pp | 89.4% | N/A | N/A | 78.7%-18.2pp | 96.8% | N/A | 99.6% | N/A |
| Operating Margin | -70.0%-49.5pp | -20.5%-13.2pp | -7.2%-9.7pp | 2.5%-13.2pp | 15.7%+4.7pp | 11.0%+0.9pp | 10.0%-1.2pp | 11.3%+21.5pp | -10.2%+2.5pp | -12.7%+23.8pp | -36.6%-76.6pp | 40.0%+102.6pp | -62.6%+26.6pp | -89.2%-54.9pp | -34.2% |
| Net Margin | -102.0% | -9.5%-10.8pp | 1.3%-1.2pp | 2.5%-9.9pp | 12.4%+3.0pp | 9.4%-41.5pp | 50.9%+37.8pp | 13.1%+22.5pp | -9.4%+2.9pp | -12.3%+23.9pp | -36.3%-76.5pp | 40.3%+102.4pp | -62.2%+25.3pp | -87.4%-56.1pp | -31.4% |
| Return on Equity | -67.4%-63.9pp | -3.5%-4.0pp | 0.5%-0.7pp | 1.2%-5.4pp | 6.6%+1.4pp | 5.1%-23.0pp | 28.1%+19.0pp | 9.2%+21.0pp | -11.8%+1.9pp | -13.7%+16.3pp | -30.0%-42.5pp | 12.6%+60.3pp | -47.7%+241.2pp | -288.9%-259.6pp | -29.3% |
| Return on Assets | -45.1%-42.2pp | -2.9%-3.3pp | 0.4%-0.6pp | 1.0%-4.6pp | 5.6%+1.2pp | 4.4%-19.5pp | 23.9%+16.3pp | 7.6%+15.2pp | -7.6%+1.0pp | -8.6%+10.1pp | -18.7%-30.5pp | 11.8%+26.5pp | -14.7%+6.4pp | -21.1%-15.8pp | -5.4% |
| Current Ratio | 2.39-2.0x | 4.39-0.5x | 4.94-0.7x | 5.68-0.7x | 6.43+0.2x | 6.21+0.3x | 5.95+0.3x | 5.64+3.2x | 2.41-1.0x | 3.46+0.2x | 3.25-15.0x | 18.20+14.1x | 4.13+0.2x | 3.90-1.0x | 4.85 |
| Debt-to-Equity | 0.49+0.3x | 0.220.0x | 0.190.0x | 0.200.0x | 0.180.0x | 0.180.0x | 0.180.0x | 0.21-0.4x | 0.560.0x | 0.600.0x | 0.60+0.5x | 0.07-2.2x | 2.25-10.4x | 12.67+8.2x | 4.46 |
| FCF Margin | -51.1%-42.9pp | -8.2%-14.6pp | 6.5%-5.9pp | 12.3%-11.4pp | 23.7%+3.6pp | 20.1%+0.4pp | 19.8%+4.4pp | 15.3%+17.6pp | -2.2%+4.3pp | -6.5%-15.5pp | 9.0% | -164.1% | -117.4% | -143.4% | -91.7% |
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: Net Margin, FCF Margin.
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Where Vanda Pharma Ranks
Frequently Asked Questions
What is Vanda Pharma's annual revenue?
Vanda Pharma (VNDA) reported $216.1M in total revenue for fiscal year 2025. This represents a 8.7% 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 Vanda Pharma's revenue growing?
Vanda Pharma (VNDA) revenue grew by 8.7% year-over-year, from $198.8M to $216.1M in fiscal year 2025.
Is Vanda Pharma profitable?
No, Vanda Pharma (VNDA) reported a net income of -$220.5M in fiscal year 2025.
What is Vanda Pharma's EBITDA?
Vanda Pharma (VNDA) had EBITDA of -$140.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Vanda Pharma's gross margin?
Vanda Pharma (VNDA) had a gross margin of 94.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Vanda Pharma's operating margin?
Vanda Pharma (VNDA) had an operating margin of -70.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Vanda Pharma's return on equity (ROE)?
Vanda Pharma (VNDA) has a return on equity of -67.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Vanda Pharma's free cash flow?
Vanda Pharma (VNDA) recorded an outflow of $110.4M in free cash flow during fiscal year 2025. This represents a -579.8% 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 Vanda Pharma's operating cash flow?
Vanda Pharma (VNDA) recorded an outflow of $109.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Vanda Pharma's total assets?
Vanda Pharma (VNDA) had $488.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vanda Pharma's capital expenditures?
Vanda Pharma (VNDA) invested $998K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Vanda Pharma spend on research and development?
Vanda Pharma (VNDA) invested $109.3M in research and development during fiscal year 2025.
What is Vanda Pharma's current ratio?
Vanda Pharma (VNDA) had a current ratio of 2.39 as of fiscal year 2025, which is generally considered healthy.
What is Vanda Pharma's debt-to-equity ratio?
Vanda Pharma (VNDA) had a debt-to-equity ratio of 0.49 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vanda Pharma's return on assets (ROA)?
Vanda Pharma (VNDA) had a return on assets of -45.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Vanda Pharma's cash runway?
Based on fiscal year 2025 data, Vanda Pharma (VNDA) had $84.9M in cash against an annual operating cash burn of $109.4M. This gives an estimated cash runway of approximately 9 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Vanda Pharma's Altman Z-Score?
Vanda Pharma (VNDA) has an Altman Z-Score of 0.04, 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 Vanda Pharma's Piotroski F-Score?
Vanda Pharma (VNDA) has a Piotroski F-Score of 2 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 Vanda Pharma's earnings high quality?
Vanda Pharma (VNDA) reported a net loss of $220.5M while operations used $109.4M 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.
How financially healthy is Vanda Pharma?
Vanda Pharma (VNDA) scores 37 out of 100 on our Financial Health Score, indicating weak 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.