Ask HN: How to measure financial health in a company

Profits are one measure but if a business is healthy the estimated profits would go into investment for the future. Profits ultimately amount to either dividends or cash reserves, both of which can be signs of a good business in moderation but excessively it suggests the business cannot find ways to productively spend its money.

Then there’s also businesses invested in long term investments with projected future gains which often results in less profits at least in the short term.

Size seems like another measure but size can also indicate over expansion into bad investments.

So how would you judge the health of a company? Is there any simple metric for judging this health (at least in the 90% case)