Top 100 Most Indebted Stocks
Top companies ranked by long-term debt, latest annual filings.
Most Indebted US Companies: What Long-Term Debt Tells You
Long-term debt captures borrowings with maturities beyond one year: bonds, term loans, and similar obligations used to fund acquisitions, capital projects, and shareholder returns. This ranking shows the companies carrying the largest absolute debt balances, not the most risky or the most leveraged. A large dollar figure can belong to a mega-cap business whose cash flows easily service it, or to a smaller firm where the same balance is dangerous, which is why absolute size is only the first question.
Why High Debt Isn't Always Bad
Absolute dollar debt is not a risk signal on its own. The meaningful comparison is against earnings, cash flow, and enterprise value: the same balance that looks ruinous for one business is easily carried by another. Debt financing can also be cheaper than equity for mature, cash-generative firms, and many capital-intensive sectors are expected to carry large balances as a normal part of their operating model rather than as a sign of distress.
What to Read Alongside
Pair long-term debt with Free Cash Flow to see what cash is available to service it, EBITDA to compute leverage ratios, and Cash & Equivalents to think in net-debt terms.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | VZ | Verizon Communications Inc. | Communication Services | $139.53B | $192.99B |
| 2 | T | AT&T Inc. | Communication Services | $127.09B | $171.99B |
| 3 | CHTR | Charter Communications, Inc. | Communication Services | $94.01B | $13.42B |
| 4 | CMCSA | Comcast Corporation | Communication Services | $92.98B | $79.56B |
| 5 | NEE | NextEra Energy, Inc. | Utilities | $89.56B | $165.33B |
| 6 | TMUS | T-Mobile US, Inc. | Communication Services | $81.15B | $174.21B |
| 7 | DUK | Duke Energy Corporation | Utilities | $80.11B | $90.69B |
| 8 | AAPL | Apple Inc. | Technology | $78.33B | $4958.37B |
| 9 | SHEL | Shell plc | Energy | $75.64B | $268.06B |
| 10 | BUD | Anheuser-Busch InBev SA/NV | Consumer Defensive | $73.01B | $153.99B |
| 11 | UNH | UnitedHealth Group Incorporated | Healthcare | $72.32B | $334.76B |
| 12 | ET | Energy Transfer LP | Energy | $68.31B | $70.24B |
| 13 | SO | The Southern Company | Utilities | $65.65B | $97.95B |
| 14 | AMZN | Amazon.com, Inc. | Consumer Cyclical | $65.65B | $2750.29B |
| 15 | AVGO | Broadcom Inc. | Technology | $61.98B | $1740.18B |
| 16 | PFE | Pfizer Inc. | Healthcare | $61.64B | $159.19B |
| 17 | CVS | CVS Health Corporation | Healthcare | $60.50B | $111.40B |
| 18 | ABBV | AbbVie Inc. | Healthcare | $58.94B | $468.66B |
| 19 | META | Meta Platforms, Inc. | Communication Services | $58.74B | $1876.48B |
| 20 | PCG | PG&E Corporation | Utilities | $57.39B | $38.67B |
| 21 | IBM | International Business Machines Corporation | Technology | $54.84B | $217.99B |
| 22 | AMGN | Amgen Inc. | Healthcare | $50.01B | $221.79B |
| 23 | EXC | Exelon Corporation | Utilities | $47.41B | $43.06B |
| 24 | MRK | Merck & Co., Inc. | Healthcare | $46.75B | $372.32B |
| 25 | GOOG | Alphabet Inc. | Communication Services | $46.55B | $4248.80B |
| 26 | HD | The Home Depot, Inc. | Consumer Cyclical | $46.34B | $304.64B |
| 27 | BA | The Boeing Company | Industrials | $45.64B | $156.27B |
| 28 | PM | Philip Morris International Inc. | Consumer Defensive | $45.13B | $296.50B |
| 29 | AEP | American Electric Power Company, Inc. | Utilities | $44.13B | $65.47B |
| 30 | INTC | Intel Corporation | Technology | $44.09B | $654.74B |
| 31 | D | Dominion Energy, Inc. | Utilities | $44.08B | $54.91B |
| 32 | AER | AerCap Holdings N.V. | Industrials | $43.57B | $22.67B |
| 33 | BMY | Bristol-Myers Squibb Company | Healthcare | $42.85B | $127.16B |
| 34 | PEP | PepsiCo, Inc. | Consumer Defensive | $42.32B | $179.06B |
| 35 | KO | The Coca-Cola Company | Consumer Defensive | $42.12B | $381.25B |
| 36 | HCA | HCA Healthcare, Inc. | Healthcare | $41.60B | $94.85B |
| 37 | LLY | Eli Lilly and Company | Healthcare | $40.87B | $1043.01B |
| 38 | MCD | McDonald's Corporation | Consumer Cyclical | $39.97B | $177.16B |
| 39 | CVX | Chevron Corporation | Energy | $39.78B | $397.05B |
| 40 | JNJ | Johnson & Johnson | Healthcare | $39.44B | $648.72B |
| 41 | LOW | Lowe's Companies, Inc. | Consumer Cyclical | $37.49B | $110.01B |
| 42 | EIX | Edison International | Utilities | $36.07B | $21.18B |
| 43 | TMO | Thermo Fisher Scientific Inc. | Healthcare | $35.85B | $243.49B |
| 44 | RITM | Rithm Capital Corp. | Real Estate | $35.44B | $5.38B |
| 45 | DIS | The Walt Disney Company | Communication Services | $35.31B | $179.26B |
| 46 | PLD | Prologis, Inc. | Real Estate | $35.04B | $129.13B |
| 47 | WMT | Walmart Inc. | Consumer Defensive | $34.62B | $873.66B |
| 48 | RTX | RTX Corporation | Industrials | $34.29B | $257.41B |
| 49 | XOM | ExxonMobil Holdings Corporation | Energy | $34.24B | $652.60B |
| 50 | AMT | American Tower Corporation | Real Estate | $33.83B | $81.66B |
| 51 | VG | Venture Global, Inc. | Energy | $33.39B | $32.28B |
| 52 | PBR | Petróleo Brasileiro S.A. - Petrobras | Energy | $33.31B | $133.79B |
| 53 | EPD | Enterprise Products Partners L.P. | Energy | $32.77B | $82.08B |
| 54 | WBD | Warner Bros. Discovery, Inc. | Communication Services | $32.43B | $77.30B |
| 55 | XEL | Xcel Energy Inc. | Utilities | $31.83B | $45.01B |
| 56 | MSFT | Microsoft Corporation | Technology | $31.07B | $3697.92B |
| 57 | CI | The Cigna Group | Healthcare | $30.87B | $72.33B |
| 58 | ELV | Elevance Health, Inc. | Healthcare | $30.80B | $87.27B |
| 59 | KMI | Kinder Morgan, Inc. | Energy | $30.78B | $69.63B |
| 60 | OKE | ONEOK, Inc. | Energy | $30.75B | $56.79B |
| 61 | CAT | Caterpillar Inc. | Industrials | $30.70B | $371.42B |
| 62 | MPC | Marathon Petroleum Corporation | Energy | $30.50B | $109.43B |
| 63 | UNP | Union Pacific Corporation | Industrials | $30.29B | $163.02B |
| 64 | TDG | TransDigm Group Incorporated | Industrials | $29.17B | $61.49B |
| 65 | SRE | Sempra | Utilities | $28.98B | $52.95B |
| 66 | SPG | Simon Property Group, Inc. | Real Estate | $28.43B | $66.64B |
| 67 | ETR | Entergy Corporation | Utilities | $27.90B | $48.33B |
| 68 | FI | Fiserv, Inc. | Technology | $27.76B | $34.31B |
| 69 | WMB | The Williams Companies, Inc. | Energy | $27.32B | $86.82B |
| 70 | HON | Honeywell International Inc. | Industrials | $27.14B | $67.14B |
| 71 | ES | Eversource Energy | Utilities | $26.87B | $25.00B |
| 72 | MDT | Medtronic plc | Healthcare | $26.17B | $116.11B |
| 73 | ATUS | Altice USA, Inc. | Communication Services | $26.15B | $0.84B |
| 74 | ED | Consolidated Edison, Inc. | Utilities | $25.55B | $38.40B |
| 75 | FE | FirstEnergy Corp. | Utilities | $25.51B | $25.88B |
| 76 | AAL | American Airlines Group Inc. | Industrials | $25.25B | $9.01B |
| 77 | MPLX | MPLX LP | Energy | $24.15B | $59.98B |
| 78 | MO | Altria Group, Inc. | Consumer Defensive | $24.14B | $114.61B |
| 79 | CCL | Carnival Corporation Ltd. | Consumer Cyclical | $24.04B | $30.52B |
| 80 | DTE | DTE Energy Company | Utilities | $23.79B | $26.10B |
| 81 | UPS | United Parcel Service, Inc. | Industrials | $23.52B | $81.56B |
| 82 | DELL | Dell Technologies Inc. | Technology | $23.51B | $349.01B |
| 83 | FDX | FedEx Corporation | Industrials | $23.29B | $70.04B |
| 84 | PG | The Procter & Gamble Company | Consumer Defensive | $22.84B | $344.27B |
| 85 | LNG | Cheniere Energy, Inc. | Energy | $22.51B | $56.38B |
| 86 | COP | ConocoPhillips | Energy | $22.42B | $150.49B |
| 87 | WM | Waste Management, Inc. | Industrials | $22.20B | $83.01B |
| 88 | GILD | Gilead Sciences, Inc. | Healthcare | $22.13B | $189.30B |
| 89 | PEG | Public Service Enterprise Group Incorporated | Utilities | $21.67B | $34.45B |
| 90 | CCI | Crown Castle Inc. | Real Estate | $21.55B | $30.79B |
| 91 | LIN | Linde plc | Basic Materials | $20.68B | $214.31B |
| 92 | OXY | Occidental Petroleum Corporation | Energy | $20.62B | $56.29B |
| 93 | BHC | Bausch Health Companies Inc. | Healthcare | $20.59B | $2.17B |
| 94 | CNP | CenterPoint Energy, Inc. | Utilities | $20.57B | $24.93B |
| 95 | LMT | Lockheed Martin Corporation | Industrials | $20.53B | $120.55B |
| 96 | AL | Air Lease Corp | Industrials | $19.73B | $7.28B |
| 97 | GPN | Global Payments Inc. | Industrials | $19.54B | $22.43B |
| 98 | CSCO | Cisco Systems, Inc. | Technology | $19.37B | $419.65B |
| 99 | KHC | The Kraft Heinz Company | Consumer Defensive | $19.31B | $28.46B |
| 100 | WELL | Welltower Inc. | Real Estate | $19.20B | $166.01B |
No companies match this search.
How this ranking is built
Companies are ranked by long-term debt as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.