Financials are a way for an investor to hold management accountable. One can use it as a benchmark to determine whether management is actually doing what they are saying they are doing. Without financials, there's no way for one to know this information. The share price is suppose to be a reflection and by-product of the financial condition of the business. That's why it's so important to have access to the financials; because without it, it's impossible to determine whether you're paying too much or too little for something. It's like buying a car without knowing what size of motor it has. A 32 valve motor costs a lot more than a 4 banger. Without financials, you could end up paying a 32 valve price and only receiving a 4 banger.