Zscaler, Inc. (ZS) 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 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for FY2026, filed Sep 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ZS SEC filings page.
Zscaler, Inc. (ZS) reported $3.4B in revenue for fiscal year 2026, up 25.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 generation has separated from reported earnings while Zscaler continues funding heavy reinvestment behind a high-margin growth model.
Operating cash flow rose to$1.1B in FY2026 even as net income remained negative at-$63M , showing that reported losses substantially understate cash produced by the operating model. However, free-cash-flow margin fell from30.2% to25.4% as capital expenditures increased to$277M , so cash conversion is positive but becoming less efficient at the margin.
Gross margin stayed near 77% across FY2024-FY2026, while the operating margin improved from
The balance sheet expanded alongside growth, but its composition changed: goodwill increased from
Financial Health Signals
Scored against operating companies for FY2026. 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 Zscaler, 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.
Zscaler, Inc. has an operating margin of -4.0%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 29/100. This is up from -4.8% the prior year.
Zscaler, Inc.'s revenue surged 25.4% year-over-year to $3.4B, reflecting rapid business expansion. This strong growth earns a score of 86/100.
Zscaler, Inc. has a moderate D/E ratio of 2.03. This balance of debt and equity financing earns a leverage score of 31/100.
Zscaler, Inc.'s current ratio of 1.70 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.
Zscaler, Inc. converts 25.4% of revenue into free cash flow ($852.4M). This strong cash generation earns a score of 93/100.
Zscaler, Inc. posts a -2.4% return on equity (ROE), meaning it loses $2 for every $100 of shareholders' equity. This results in a returns score of 30/100. This is down from -2.3% the prior year.
Zscaler, Inc. scores 3.52, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($26.8B) relative to total liabilities ($5.3B). 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.
Zscaler, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Zscaler, Inc. reported a net loss of $63.2M while generating $1.1B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Zscaler, Inc. reported an operating loss of $133.3M against $11.8M 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
Zscaler, Inc. generated $898.2M in revenue in Q4 2026. This represents an increase of 24.9% from the same quarter a year earlier. Against the prior quarter it is up 5.6%.
Zscaler, Inc. reported -$3.4M in net income in Q4 2026. This represents an increase of 80.8% from the same quarter a year earlier. Against the prior quarter it is up 75.7%.
Zscaler, Inc. earned -$0.02 per diluted share (EPS) in Q4 2026. This represents an increase of 81.8% from the same quarter a year earlier. Against the prior quarter it is up 77.8%.
Not reported for Q4 2026.
Cash & Balance Sheet
Zscaler, Inc. generated $79.4M in free cash flow in Q4 2026, representing cash available after capex. This represents a decrease of 58.3% from the same quarter a year earlier. Against the prior quarter it is down 48.9%.
Zscaler, Inc. held $928.4M in cash as of Q4 2026; long-term debt is not reported for that period.
Not reported for Q4 2026.
Margins & Returns
Zscaler, Inc.'s gross margin was 76.7% in Q4 2026, indicating the percentage of revenue retained after direct costs. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.
Zscaler, Inc.'s operating margin was -1.7% in Q4 2026, reflecting core business profitability. This is up 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.8 percentage points.
Zscaler, Inc.'s net profit margin was -0.4% in Q4 2026, showing the share of revenue converted to profit. This is up 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.
Zscaler, Inc.'s ROE was -0.1% in Q4 2026, measuring profit generated per dollar of shareholder equity. This is up 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.
Capital Allocation
Zscaler, Inc. invested $241.5M in research and development in Q4 2026. This represents an increase of 36.0% from the same quarter a year earlier. Against the prior quarter it is up 4.0%.
Zscaler, Inc. invested $199.8M in capex in Q4 2026, funding long-term assets and infrastructure. This represents an increase of 232.8% from the same quarter a year earlier. Against the prior quarter it is up 371.3%.
Not reported for Q4 2026.
ZS 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 | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $898.2M+24.9% | $850.5M+25.4% | $815.8M+25.9% | $788.1M+25.5% | $719.2M+21.3% | $678.0M+22.6% | $647.9M+23.4% | $628.0M+26.4% |
| Cost of Revenue | $209.0M+21.3% | $192.7M+23.5% | $191.3M+28.8% | $184.8M+30.6% | $172.2M+32.3% | $156.0M+31.8% | $148.5M+26.7% | $141.5M+27.0% |
| Gross Profit | $689.2M+26.0% | $657.8M+26.0% | $624.5M+25.0% | $603.4M+24.0% | $547.0M+18.2% | $522.1M+20.0% | $499.4M+22.5% | $486.5M+26.3% |
| R&D Expenses | $241.5M+36.0% | $232.3M+36.8% | $229.1M+34.1% | $200.5M+30.0% | $177.6M+27.6% | $169.8M+35.9% | $170.9M+39.8% | $154.3M+35.9% |
| SG&A Expenses | $81.9M+15.3% | $83.2M+31.9% | $78.2M+28.6% | $65.7M+15.6% | $71.0M+26.2% | $63.1M+25.0% | $60.8M+11.4% | $56.8M+12.0% |
| Operating Income | -$15.5M+52.0% | -$29.6M-16.6% | -$51.8M-29.0% | -$36.4M-18.6% | -$32.2M-19.6% | -$25.4M-743.4% | -$40.1M+11.7% | -$30.7M+33.4% |
| EBITDA | N/A | $8.4M+201.4% | N/A | N/A | N/A | $2.8M | N/A | N/A |
| Interest Expense | $2.7M-50.1% | $2.7M+101.0% | $4.2M+214.8% | $2.1M+58.7% | $5.5M+231.6% | $1.3M-51.4% | $1.3M-62.8% | $1.3M-57.6% |
| Income Tax | $18.3M+16.6% | $11.5M+32.5% | $13.0M+247.7% | $3.2M-57.6% | $15.7M+60.4% | $8.7M+398.7% | -$8.8M-210.7% | $7.6M-15.1% |
| Net Income | -$3.4M+80.8% | -$13.9M-236.6% | -$34.3M-344.2% | -$11.6M+3.6% | -$17.6M-18.1% | -$4.1M-121.6% | -$7.7M+72.9% | -$12.1M+64.0% |
| EPS (Basic) | -$0.02+81.8% | -$0.09-200.0% | -$0.21-320.0% | -$0.07+12.5% | -$0.11-10.0% | -$0.03-123.1% | -$0.05+73.7% | -$0.08+65.2% |
| EPS (Diluted) | -$0.02+81.8% | -$0.09-200.0% | -$0.21-320.0% | -$0.07+12.5% | -$0.11-10.0% | -$0.03-125.0% | -$0.05+73.7% | -$0.08+65.2% |
| Diluted Shares (Avg) | N/A | 161M+3.8% | 160M+3.9% | 159M+4.0% | N/A | 155M+0.5% | 154M+3.2% | 153M+3.3% |
ZS 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 | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.9B+22.5% | $7.1B+32.9% | $6.8B+34.9% | $6.5B+38.1% | $6.4B+36.4% | $5.3B+27.2% | $5.0B+27.2% | $4.7B+29.5% |
| Current Assets | $5.0B+2.8% | $4.7B+18.9% | $4.5B+21.4% | $4.2B+23.9% | $4.9B+44.1% | $3.9B+31.8% | $3.7B+16.6% | $3.4B+17.4% |
| Cash & Equivalents | $928.4M-61.1% | $982.1M-50.7% | $1.2B-31.6% | $1.3B-13.9% | $2.4B+67.9% | $2.0B+58.1% | $1.8B+22.2% | $1.6B+14.1% |
| Short-Term Investments | $2.5B+115.1% | $2.6B+152.0% | $2.3B+105.9% | $2.0B+71.8% | $1.2B+19.9% | $1.0B+3.5% | $1.1B+9.8% | $1.2B+19.9% |
| Accounts Receivable | $1.1B+15.8% | $730.5M+18.6% | $551.8M+7.3% | $530.5M+24.9% | $992.2M+34.7% | $615.8M+21.6% | $514.3M+7.2% | $424.6M+15.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $1.2B+191.6% | $1.1B+162.0% | $1.0B+139.7% | $994.5M+138.5% | $417.7M+0.2% | $417.7M+0.2% | $417.7M+352.0% | $417.0M+351.3% |
| Total Liabilities | $5.3B+14.0% | $4.7B+33.9% | $4.6B+34.1% | $4.5B+37.8% | $4.6B+34.7% | $3.5B+13.8% | $3.4B+14.2% | $3.3B+16.0% |
| Current Liabilities | $3.0B+21.9% | $2.5B-21.1% | $2.3B-23.2% | $2.3B-22.2% | $2.4B-21.9% | $3.2B+86.2% | $3.0B+92.5% | $3.0B+101.0% |
| Non-Current Liabilities | $2.3B+5.3% | $2.2B+509.0% | $2.2B+533.8% | $2.2B+599.1% | $2.2B+589.0% | $366.3M-73.9% | $349.8M-74.9% | $316.8M-76.6% |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $1.1B+1.0% | $1.1B+0.6% | $1.1B+1.0% |
| Total Equity | $2.6B+44.4% | $2.4B+31.1% | $2.2B+36.6% | $2.0B+38.8% | $1.8B+41.2% | $1.8B+65.1% | $1.6B+67.6% | $1.4B+76.9% |
| Retained Earnings | -$1.3B-5.3% | -$1.2B-6.6% | -$1.2B-5.8% | -$1.2B-3.5% | -$1.2B-3.6% | -$1.2B-3.4% | -$1.2B-1.3% | -$1.2B-3.2% |
Not reported in any period shown, so not listed: Inventory.
ZS 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 | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $279.3M+11.4% | $198.0M-6.2% | $204.1M+13.7% | $448.3M+35.3% | $250.6M+23.1% | $211.1M+21.7% | $179.4M+26.3% | $331.3M+27.0% |
| Depreciation & Amortization | $42.9M+41.9% | $38.0M+34.9% | N/A | N/A | $30.3M | $28.2M | N/A | N/A |
| Stock-Based Compensation | N/A | $205.2M+28.7% | $216.6M+25.8% | $188.6M+20.0% | N/A | $159.4M+40.8% | $172.1M+22.6% | $157.2M+21.7% |
| Capital Expenditures | $199.8M+232.8% | $42.4M-41.2% | $17.8M+18.2% | $17.3M+1.7% | $60.0M+21.6% | $72.2M+102.4% | $15.0M-51.4% | $17.0M-40.6% |
| Free Cash Flow | $79.4M-58.3% | $155.6M+12.0% | $186.3M+13.3% | $431.0M+37.1% | $190.6M+23.6% | $138.9M+0.8% | $164.4M+47.9% | $314.3M+35.4% |
| Investing Cash Flow | -$371.0M-49.8% | -$418.7M-2029.1% | -$360.9M-69774.3% | -$1.5B-644.9% | -$247.6M-233.7% | $21.7M+106.0% | $518K+100.6% | -$201.7M-24.1% |
| Financing Cash Flow | $37.9M-90.4% | $0+100.0% | $21.4M-14.1% | $3.1M+248.7% | $395.1M+1044.8% | -$399K-105.4% | $24.9M+18.6% | $890K-29.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ZS 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 | Q4'2610-K | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.7%+0.7pp | 77.3%+0.3pp | 76.5%-0.5pp | 76.6%-0.9pp | 76.0%-2.0pp | 77.0%-1.6pp | 77.1%-0.6pp | 77.5%-0.1pp |
| Operating Margin | -1.7%+2.8pp | -3.5%+0.3pp | -6.3%-0.2pp | -4.6%+0.3pp | -4.5%+0.1pp | -3.8%-3.2pp | -6.2%+2.5pp | -4.9%+4.4pp |
| Net Margin | -0.4%+2.1pp | -1.6%-1.0pp | -4.2%-3.0pp | -1.5%+0.4pp | -2.4%+0.1pp | -0.6%-4.1pp | -1.2%+4.2pp | -1.9%+4.8pp |
| Return on Equity | -0.1%+0.8pp | -0.6%-0.4pp | -1.6%-1.1pp | -0.6%+0.2pp | -1.0%+0.2pp | -0.2%-2.0pp | -0.5%+2.5pp | -0.8%+3.3pp |
| Return on Assets | 0.0%+0.2pp | -0.2%-0.1pp | -0.5%-0.4pp | -0.2%+0.1pp | -0.3%+0.1pp | -0.1%-0.5pp | -0.1%+0.6pp | -0.3%+0.7pp |
| Current Ratio | 1.70-0.3x | 1.86+0.6x | 1.90+0.7x | 1.82+0.7x | 2.01+0.9x | 1.24-0.5x | 1.20-0.8x | 1.15-0.8x |
| Debt-to-Equity | 2.03-0.5x | 2.00+1.4x | 2.08+1.4x | 2.28+1.5x | 2.57+1.7x | 0.64-0.4x | 0.71-0.5x | 0.80-0.6x |
| Asset Turnover | 0.110.0x | 0.120.0x | 0.120.0x | 0.120.0x | 0.110.0x | 0.130.0x | 0.130.0x | 0.130.0x |
| FCF Margin | 8.8%-17.6pp | 18.3%-2.2pp | 22.8%-2.5pp | 54.7%+4.6pp | 26.5%+0.5pp | 20.5%-4.4pp | 25.4%+4.2pp | 50.0%+3.3pp |
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 |
|---|---|---|---|---|---|---|
| Zscaler, Inc. ZS | FY2026 | $3.4B | -$63.2M | -1.9% | $26.8B | 53/100 |
| Block, Inc. XYZ | FY2025 | $24.2B | $1.3B | 5.4% | $47.6B | 51/100 |
| Fortinet, Inc. FTNT | FY2025 | $6.8B | $1.9B | 27.3% | $114.5B | 78/100 |
| Cloudflare, Inc. NET | FY2025 | $2.2B | -$102.3M | -4.7% | $109.1B | 52/100 |
| MongoDB, Inc. MDB | FY2026 | $2.5B | -$71.2M | -2.9% | $29.2B | 63/100 |
| NetApp, Inc NTAP | FY2026 | $6.2B | $1.3B | 20.5% | $39.1B | 72/100 |
Where Zscaler, Inc. Ranks
Frequently Asked Questions
What is Zscaler, Inc.'s annual revenue?
Zscaler, Inc. (ZS) reported $3.4B in total revenue for fiscal year 2026. This represents a 25.4% 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 Zscaler, Inc.'s revenue growing?
Zscaler, Inc. (ZS) revenue grew by 25.4% year-over-year, from $2.7B to $3.4B in fiscal year 2026.
Is Zscaler, Inc. profitable?
No, Zscaler, Inc. (ZS) reported a net income of -$63.2M in fiscal year 2026, with a net profit margin of -1.9%.
What is Zscaler, Inc.'s EBITDA?
Zscaler, Inc. (ZS) had EBITDA of $15.3M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Zscaler, Inc.'s gross margin?
Zscaler, Inc. (ZS) had a gross margin of 76.8% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Zscaler, Inc.'s operating margin?
Zscaler, Inc. (ZS) had an operating margin of -4.0% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Zscaler, Inc.'s net profit margin?
Zscaler, Inc. (ZS) had a net profit margin of -1.9% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Zscaler, Inc.'s return on equity (ROE)?
Zscaler, Inc. (ZS) has a return on equity of -2.4% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Zscaler, Inc.'s free cash flow?
Zscaler, Inc. (ZS) generated $852.4M in free cash flow during fiscal year 2026. This represents a 5.5% 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 Zscaler, Inc.'s operating cash flow?
Zscaler, Inc. (ZS) generated $1.1B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Zscaler, Inc.'s total assets?
Zscaler, Inc. (ZS) had $7.9B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Zscaler, Inc.'s capital expenditures?
Zscaler, Inc. (ZS) invested $277.3M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Zscaler, Inc. spend on research and development?
Zscaler, Inc. (ZS) invested $903.4M in research and development during fiscal year 2026.
What is Zscaler, Inc.'s current ratio?
Zscaler, Inc. (ZS) had a current ratio of 1.70 as of fiscal year 2026, which is generally considered healthy.
What is Zscaler, Inc.'s debt-to-equity ratio?
Zscaler, Inc. (ZS) had a debt-to-equity ratio of 2.03 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Zscaler, Inc.'s return on assets (ROA)?
Zscaler, Inc. (ZS) had a return on assets of -0.8% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Zscaler, Inc.'s P/E ratio?
Zscaler, Inc. (ZS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2026). The market capitalization is $26.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Zscaler, Inc.'s price-to-sales ratio?
Zscaler, Inc. (ZS) trades at 8.0x sales, its market capitalization divided by revenue of $3.4B revenue, FY2026. The market capitalization is $26.8B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Zscaler, Inc.'s Altman Z-Score?
Zscaler, Inc. (ZS) has an Altman Z-Score of 3.52, 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 Zscaler, Inc.'s Piotroski F-Score?
Zscaler, Inc. (ZS) has a Piotroski F-Score of 3 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 Zscaler, Inc.'s earnings high quality?
Zscaler, Inc. (ZS) reported a net loss of $63.2M while generating $1.1B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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 Zscaler, Inc. cover its interest payments?
Zscaler, Inc. (ZS) reported an operating loss of $133.3M against $11.8M 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 Zscaler, Inc.?
Zscaler, Inc. (ZS) scores 53 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.