The Financial Health of an Organization

How do you determine if an organization is healthy, from a financial perspective? For example, an organization might bring in a phenomenal number of sales in a given year and, at first glance, most people might consider that organization to be in a healthy position. But how might that perspective change if it were
discovered that the overhead costs were out of control? Or, what if the organization took out an enormous amount of debt? Are these circumstances
negative or positive, or does that depend on other factors and interpretations?