What is XOMA Royalty Corporation's earnings per share (EPS)?

XOMA Royalty Corporation (XOMA) reported diluted earnings per share of $1.46 for fiscal year 2025. This represents a 188.5% 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.

XOMA Royalty Corporation Financials

XOMA

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

This page shows XOMA Royalty Corporation (XOMA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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 XOMA FY2025 2026-05-12

FY2025's rebound reflects non-operating gains and investing cash movements more than steady operating cash generation.

In FY2025, net income of $31.7M sat far above operating cash flow of $2.9M, so the return to profitability did not turn into comparable operating cash. Net income also exceeded operating income despite $13.0M of interest expense, which implies the year's profit was helped materially by items outside the recurring operating line.

The balance sheet remains liquid but more constrained than it looked in FY2023. Cash fell from $153.3M in FY2023 to $82.9M in FY2025, and debt still stood near $96.5M, so recent distributions and weak cash conversion have narrowed flexibility even though the current ratio is still 3.4x.

The earnings swing was larger than the sales swing. Revenue rebounded to $52.1M from $28.5M, but net margin moved from -48.5% to 60.8%, a pattern that points to favorable below-operating items rather than a simple improvement in day-to-day cost absorption.

Financial Health Signals

Financial Profile 44/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of XOMA Royalty 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.

Profitability

XOMA Royalty Corporation has an operating margin of 21.8%, meaning the company retains $22 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -140.3% the prior year.

Growth

100

XOMA Royalty Corporation's revenue surged 83.1% year-over-year to $52.1M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

XOMA Royalty Corporation carries a low D/E ratio of 1.15, meaning only $1.15 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 79/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 3.37, XOMA Royalty Corporation holds $3.37 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.

Returns

XOMA Royalty Corporation generates a 37.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 18/100. This is up from -22.3% the prior year.

Altman Z-Score Distress

-3.71

XOMA Royalty Corporation scores -3.71, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($526.7M) relative to total liabilities ($168.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

6/9

XOMA Royalty Corporation passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.09x

For every $1 of reported earnings, XOMA Royalty Corporation generates $0.09 in operating cash flow ($2.9M OCF vs $31.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

0.9x

XOMA Royalty Corporation earns $0.9 in operating income for every $1 of interest expense ($11.4M vs $13.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$52.1M

YoY+83.1%

5Y CAGR+12.2%

10Y CAGR-0.6%

XOMA Royalty Corporation generated $52.1M in revenue in fiscal year 2025. This represents an increase of 83.1% from the prior year.

EBITDA

N/A

Net Income

$31.7M

YoY+329.4%

5Y CAGR+19.0%

XOMA Royalty Corporation reported $31.7M in net income in fiscal year 2025. This represents an increase of 329.4% from the prior year.

EPS (Diluted)

$1.46

YoY+188.5%

5Y CAGR+13.4%

XOMA Royalty Corporation earned $1.46 per diluted share (EPS) in fiscal year 2025. This represents an increase of 188.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$82.9M

YoY-18.4%

5Y CAGR-0.8%

10Y CAGR+2.3%

XOMA Royalty Corporation held $82.9M in cash against $96.5M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

12M

YoY-0.8%

5Y CAGR+1.1%

10Y CAGR+7.1%

XOMA Royalty Corporation had 12M shares outstanding in fiscal year 2025. This represents a decrease of 0.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

21.8%

YoY+162.2pp

5Y CAGR-20.4pp

10Y CAGR+93.5pp

XOMA Royalty Corporation's operating margin was 21.8% in fiscal year 2025, reflecting core business profitability. This is up 162.2 percentage points from the prior year.

Net Margin

60.8%

YoY+109.3pp

5Y CAGR+15.6pp

10Y CAGR+98.0pp

XOMA Royalty Corporation's net profit margin was 60.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 109.3 percentage points from the prior year.

Return on Equity

37.8%

YoY+60.1pp

5Y CAGR+22.4pp

XOMA Royalty Corporation's ROE was 37.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 60.1 percentage points from the prior year.

Capital Allocation

R&D Spending

$1.7M

YoY-40.5%

5Y CAGR+58.7%

10Y CAGR-31.1%

XOMA Royalty Corporation invested $1.7M in research and development in fiscal year 2025. This represents a decrease of 40.5% from the prior year.

Share Buybacks

$16.0M

YoY+123307.7%

XOMA Royalty Corporation spent $16.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 123307.7% from the prior year.

Capital Expenditures

N/A

XOMA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$52.1M+83.1%	$28.5M+498.7%	$4.8M-21.1%	$6.0M-84.2%	$38.2M+29.9%	$29.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$1.7M-40.5%	$2.9M+1910.5%	$143K-6.5%	$153K-10.5%	$171K+0.6%	$170K
SG&A Expenses	$36.1M+4.7%	$34.5M+34.6%	$25.6M+10.4%	$23.2M+13.3%	$20.5M+21.8%	$16.8M
Operating Income	$11.4M+128.5%	-$40.0M+4.5%	-$41.8M-140.3%	-$17.4M-199.3%	$17.5M+41.2%	$12.4M
Interest Expense	$13.0M-5.8%	$13.8M+2332.3%	$569K	N/A	$461K-75.0%	$1.8M
Income Tax	$103K+101.8%	-$5.7M	$0+100.0%	-$15K-116.5%	$91K+106.1%	-$1.5M
Net Income	$31.7M+329.4%	-$13.8M+66.2%	-$40.8M-138.7%	-$17.1M-208.3%	$15.8M+18.8%	$13.3M
EPS (Diluted)	$1.46+188.5%	$-1.65+59.2%	$-4.04-104.0%	$-1.98-404.6%	$0.65-16.7%	$0.78

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$12.3M-10.5%	$13.8M+47.1%	$9.4M-28.8%	$13.1M-17.5%	$15.9M+82.6%	$8.7M+21.1%	$7.2M-35.1%	$11.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$49K-82.6%	$281K+307.2%	$69K0.0%	$69K-94.7%	$1.3M+49.7%	$864K+5.8%	$817K-29.6%	$1.2M
SG&A Expenses	$11.9M+13.9%	$10.4M+6.9%	$9.7M+24.8%	$7.8M-4.2%	$8.1M+16.5%	$7.0M-12.8%	$8.0M-27.1%	$11.0M
Operating Income	-$480K-122.0%	$2.2M+264.1%	-$1.3M-128.9%	$4.6M-22.4%	$5.9M+181.7%	-$7.3M+53.6%	-$15.6M-55.2%	-$10.1M
Interest Expense	$3.4M+11.0%	$3.0M-8.3%	$3.3M+2.0%	$3.2M-6.7%	$3.5M+2.2%	$3.4M-2.8%	$3.5M+2.7%	$3.4M
Income Tax	$1K	N/A	$49K	N/A	$0+100.0%	-$5.7M	$0	$0
Net Income	$4.5M-26.8%	$6.1M-56.6%	$14.1M+52.9%	$9.2M+288.3%	$2.4M+159.7%	-$4.0M+77.0%	-$17.2M-207.9%	$16.0M
EPS (Diluted)	$0.17	N/A	$0.70+59.1%	$0.44+633.3%	$0.06	N/A	$-1.59-289.3%	$0.84

XOMA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$272.7M+23.2%	$221.3M-5.6%	$234.3M+66.9%	$140.4M-15.7%	$166.6M+32.9%	$125.3M
Current Assets	$117.3M-6.6%	$125.6M-25.8%	$169.3M+176.4%	$61.3M-36.8%	$97.0M+10.1%	$88.1M
Cash & Equivalents	$82.9M-18.4%	$101.7M-33.7%	$153.3M+165.1%	$57.8M-38.0%	$93.3M+8.1%	$86.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$0	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$168.7M+21.1%	$139.4M-4.3%	$145.6M+789.4%	$16.4M-33.7%	$24.7M-36.5%	$38.9M
Current Liabilities	$34.8M+42.9%	$24.4M+25.0%	$19.5M+186.0%	$6.8M-47.4%	$13.0M+5.4%	$12.3M
Long-Term Debt	$96.5M-9.8%	$106.9M-9.8%	$118.5M	$0	N/A	$12.8M
Total Equity	$83.9M+35.6%	$61.9M-30.2%	$88.7M-28.5%	$124.0M-12.6%	$141.9M+64.2%	$86.4M
Retained Earnings	-$1.2B+1.3%	-$1.2B-1.1%	-$1.2B-3.5%	-$1.2B-1.5%	-$1.2B+1.3%	-$1.2B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$271.9M-0.3%	$272.7M+3.6%	$263.2M+17.8%	$223.5M+5.0%	$212.8M-3.9%	$221.3M-0.9%	$223.3M-8.2%	$243.3M
Current Assets	$118.7M+1.3%	$117.3M+5.9%	$110.7M+5.5%	$104.9M-7.3%	$113.2M-9.9%	$125.6M-21.0%	$159.0M-2.0%	$162.2M
Cash & Equivalents	$85.6M+3.2%	$82.9M+83.5%	$45.2M-39.8%	$75.1M-16.8%	$90.3M-11.2%	$101.7M-28.4%	$142.1M-1.3%	$143.9M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$159.0M-5.8%	$168.7M+8.7%	$155.2M+18.5%	$131.0M+2.2%	$128.1M-8.1%	$139.4M+0.6%	$138.5M-3.3%	$143.3M
Current Liabilities	$33.1M-5.0%	$34.8M+23.0%	$28.3M+31.7%	$21.5M+5.2%	$20.4M-16.2%	$24.4M+15.3%	$21.1M+13.5%	$18.6M
Long-Term Debt	$88.8M-7.9%	$96.5M+2.2%	$94.4M-7.7%	$102.2M+2.3%	$99.9M-6.5%	$106.9M-1.1%	$108.1M-6.1%	$115.1M
Total Equity	$92.9M+10.6%	$83.9M-4.5%	$87.9M+21.4%	$72.4M-14.4%	$84.6M+36.7%	$61.9M-27.0%	$84.8M-15.2%	$100.0M
Retained Earnings	-$1.2B+0.3%	-$1.2B-0.6%	-$1.2B+1.1%	-$1.2B+0.6%	-$1.2B+0.1%	-$1.2B-0.3%	-$1.2B-1.4%	-$1.2B

XOMA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.9M+120.9%	-$13.7M+24.3%	-$18.2M-41.0%	-$12.9M-156.8%	$22.7M+124.7%	$10.1M
Capital Expenditures	N/A	$20K+17.6%	$17K-99.9%	$15.2M	N/A	$9K
Free Cash Flow	N/A	-$13.8M+24.2%	-$18.2M+35.4%	-$28.1M	N/A	$10.1M
Investing Cash Flow	$50.9M+280.1%	-$28.3M-3874.5%	-$711K+96.5%	-$20.2M+23.7%	-$26.5M-12579.4%	-$209K
Financing Cash Flow	-$26.5M-137.8%	-$11.1M-109.2%	$120.6M+2809.3%	-$4.5M-134.7%	$12.8M-35.2%	$19.8M
Dividends Paid	$5.5M0.0%	$5.5M0.0%	$5.5M0.0%	$5.5M+56.4%	$3.5M	$0
Share Buybacks	$16.0M+123307.7%	$13K	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	$6.1M+211.3%	-$5.5M-1758.4%	-$296K-104.6%	$6.5M+194.4%	$2.2M+175.7%	-$2.9M+66.3%	-$8.6M-416.3%	$2.7M
Capital Expenditures	$5.0M	N/A	N/A	N/A	N/A	$3K	$0	$0
Free Cash Flow	$1.1M	N/A	N/A	N/A	N/A	-$2.9M+66.3%	-$8.6M-416.3%	$2.7M
Investing Cash Flow	$6.6M-66.1%	$19.3M-66.8%	$58.2M+391.3%	-$20.0M-198.5%	-$6.7M+81.6%	-$36.4M-482.6%	$9.5M+61.5%	$5.9M
Financing Cash Flow	-$7.6M+28.5%	-$10.7M-82.7%	-$5.8M-93.0%	-$3.0M+56.0%	-$6.9M-546.7%	-$1.1M+73.4%	-$4.0M-262.4%	-$1.1M
Dividends Paid	$1.4M+4.1%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M
Share Buybacks	$264K-98.1%	$13.6M+54492.0%	$25K-98.6%	$1.8M+234.9%	$545K	$0	$0	$0

XOMA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	21.8%+162.2pp	-140.3%+739.2pp	-879.5%-590.6pp	-288.9%-334.9pp	45.9%+3.7pp	42.3%
Net Margin	60.8%+109.3pp	-48.5%+809.6pp	-858.1%-574.4pp	-283.8%-325.2pp	41.4%-3.9pp	45.3%
Return on Equity	37.8%+60.1pp	-22.3%+23.7pp	-46.0%-32.2pp	-13.8%-24.9pp	11.1%-4.3pp	15.4%
Return on Assets	11.6%+17.9pp	-6.3%+11.2pp	-17.4%-5.3pp	-12.2%-21.7pp	9.5%-1.1pp	10.6%
Current Ratio	3.37-1.8	5.15-3.5	8.68-0.3	8.98+1.5	7.48+0.3	7.16
Debt-to-Equity	1.15-0.6	1.73+0.4	1.34+1.3	0.00-0.2	0.17+0.0	0.15
FCF Margin	N/A	-48.3%+333.7pp	-382.0%+84.7pp	-466.7%	N/A	34.3%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-3.9%-19.8pp	15.9%+30.1pp	-14.2%-49.3pp	35.1%-2.2pp	37.3%+120.5pp	-83.2%+134.1pp	-217.3%-126.4pp	-90.9%
Net Margin	36.3%-8.1pp	44.4%-105.9pp	150.3%+80.3pp	70.0%+55.1pp	14.9%+60.4pp	-45.5%+194.1pp	-239.6%-383.8pp	144.2%
Return on Equity	4.8%-2.5pp	7.3%-8.7pp	16.0%+3.3pp	12.7%+9.9pp	2.8%+9.2pp	-6.4%+13.9pp	-20.3%-36.3pp	16.0%
Return on Assets	1.6%-0.6pp	2.2%-3.1pp	5.3%+1.2pp	4.1%+3.0pp	1.1%+2.9pp	-1.8%+5.9pp	-7.7%-14.3pp	6.6%
Current Ratio	3.59+0.2	3.37-0.5	3.91-1.0	4.88-0.7	5.54+0.4	5.15-2.4	7.52-1.2	8.71
Debt-to-Equity	0.96-0.2	1.15+0.1	1.07-0.3	1.41+0.2	1.18-0.5	1.73+0.5	1.27+0.1	1.15
FCF Margin	9.1%	N/A	N/A	N/A	N/A	-33.4%+86.5pp	-119.8%-144.4pp	24.6%

Similar Companies

Erasca, Inc. ERAS

$3.2B

Prothena PRTA

$516.2M

Zevra Therapeutics Inc ZVRA

$689.3M

Arcturus Therape ARCT

$222.6M

Frequently Asked Questions

What is XOMA Royalty Corporation's annual revenue?

XOMA Royalty Corporation (XOMA) reported $52.1M in total revenue for fiscal year 2025. This represents a 83.1% 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 XOMA Royalty Corporation's revenue growing?

XOMA Royalty Corporation (XOMA) revenue grew by 83.1% year-over-year, from $28.5M to $52.1M in fiscal year 2025.

Is XOMA Royalty Corporation profitable?

Yes, XOMA Royalty Corporation (XOMA) reported a net income of $31.7M in fiscal year 2025, with a net profit margin of 60.8%.

How much debt does XOMA Royalty Corporation have?

As of fiscal year 2025, XOMA Royalty Corporation (XOMA) had $82.9M in cash and equivalents against $96.5M in long-term debt.

What is XOMA Royalty Corporation's operating margin?

XOMA Royalty Corporation (XOMA) had an operating margin of 21.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is XOMA Royalty Corporation's net profit margin?

XOMA Royalty Corporation (XOMA) had a net profit margin of 60.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is XOMA Royalty Corporation's return on equity (ROE)?

XOMA Royalty Corporation (XOMA) has a return on equity of 37.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is XOMA Royalty Corporation's operating cash flow?

XOMA Royalty Corporation (XOMA) generated $2.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are XOMA Royalty Corporation's total assets?

XOMA Royalty Corporation (XOMA) had $272.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does XOMA Royalty Corporation spend on research and development?

XOMA Royalty Corporation (XOMA) invested $1.7M in research and development during fiscal year 2025.

Does XOMA Royalty Corporation buy back shares?

Yes, XOMA Royalty Corporation (XOMA) spent $16.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does XOMA Royalty Corporation have outstanding?

XOMA Royalty Corporation (XOMA) had 12M shares outstanding as of fiscal year 2025.

What is XOMA Royalty Corporation's current ratio?

XOMA Royalty Corporation (XOMA) had a current ratio of 3.37 as of fiscal year 2025, which is generally considered healthy.

What is XOMA Royalty Corporation's debt-to-equity ratio?

XOMA Royalty Corporation (XOMA) had a debt-to-equity ratio of 1.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is XOMA Royalty Corporation's return on assets (ROA)?

XOMA Royalty Corporation (XOMA) had a return on assets of 11.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is XOMA Royalty Corporation's Altman Z-Score?

XOMA Royalty Corporation (XOMA) has an Altman Z-Score of -3.71, 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 XOMA Royalty Corporation's Piotroski F-Score?

XOMA Royalty Corporation (XOMA) 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 XOMA Royalty Corporation's earnings high quality?

XOMA Royalty Corporation (XOMA) has an earnings quality ratio of 0.09x, considered low quality (accrual-driven). 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 XOMA Royalty Corporation cover its interest payments?

XOMA Royalty Corporation (XOMA) has an interest coverage ratio of 0.9x, 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 XOMA Royalty Corporation?

XOMA Royalty Corporation (XOMA) scores 44 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.