Most Indebted Technology Stocks
Top technology companies ranked by long-term debt, latest annual filings.
Most Indebted Technology Companies: What Long-Term Debt Tells You
Long-term debt in technology is usually the exception rather than the rule. Most software and platform firms generate strong cash internally and carry modest balance sheet leverage, which makes the names that appear at the top of an absolute-debt ranking tend to be hardware-heavy operators, firms that funded large acquisitions, or mature businesses that have issued debt specifically to finance share buybacks at low borrowing costs rather than out of operational need.
Why It Matters in Technology
Because the sector is typically asset-light, high absolute debt in technology usually reflects deliberate capital structure choices rather than operating stress, particularly at large mature incumbents. Still, debt-funded buybacks compound risk in a downturn, and large acquisition-related debt can strain firms whose integration runs behind plan. Reading long-term debt against free cash flow and cash reserves matters more than the absolute figure, especially for firms that have levered up during strong-growth years.
What to Read Alongside
Pair long-term debt with Free Cash Flow to gauge servicing capacity against platform cash generation, EBITDA for leverage ratios relative to operating scale, and Cash & Equivalents for the net-debt picture once offshore cash is applied.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | ORCL | Oracle Corporation | Technology | $122.34B | $361.97B |
| 2 | AAPL | Apple Inc. | Technology | $68.21B | $4.98T |
| 3 | AVGO | Broadcom Inc. | Technology | $61.98B | $1.40T |
| 4 | IBM | International Business Machines Corporation | Technology | $54.84B | $231.55B |
| 5 | INTC | Intel Corporation | Technology | $44.09B | $299.13B |
| 6 | MSFT | Microsoft Corporation | Technology | $31.07B | $3.94T |
| 7 | TSM | Taiwan Semiconductor Manufacturing Company Limited | Technology | $28.56B | $1.95T |
| 8 | DELL | Dell Technologies Inc. | Technology | $23.51B | $208.96B |
| 9 | CSCO | Cisco Systems, Inc. | Technology | $19.37B | $370.01B |
| 10 | HPE | Hewlett Packard Enterprise Company | Technology | $17.76B | $59.43B |
| 11 | RUN | Sunrun Inc. | Technology | $14.70B | $2.41B |
| 12 | CRWV | CoreWeave, Inc. | Technology | $14.66B | $25.59B |
| 13 | APH | Amphenol Corporation | Technology | $14.56B | $184.18B |
| 14 | TXN | Texas Instruments Incorporated | Technology | $13.55B | $253.58B |
| 15 | SNPS | Synopsys, Inc. | Technology | $13.46B | $86.32B |
| 16 | QCOM | QUALCOMM Incorporated | Technology | $12.62B | $176.99B |
| 17 | NXPI | NXP Semiconductors N.V. | Technology | $10.97B | $62.58B |
| 18 | UBER | Uber Technologies, Inc. | Technology | $10.52B | $140.05B |
| 19 | CRM | Salesforce, Inc. | Technology | $10.44B | $175.83B |
| 20 | CPAY | Corpay, Inc. | Technology | $10.00B | $29.12B |
| 21 | ACN | Accenture plc | Technology | $10.00B | $153.89B |
| 22 | FIS | Fidelity National Information Services, Inc. | Technology | $9.07B | $14.81B |
| 23 | HPQ | HP Inc. | Technology | $8.82B | $25.66B |
| 24 | ROP | Roper Technologies, Inc. | Technology | $8.60B | $47.20B |
| 25 | MSI | Motorola Solutions, Inc. | Technology | $8.41B | $85.07B |
| 26 | MSTR | Strategy Inc | Technology | $8.16B | $54.57B |
| 27 | ADI | Analog Devices, Inc. | Technology | $8.15B | $176.17B |
| 28 | GEN | Gen Digital Inc. | Technology | $8.02B | $17.67B |
| 29 | GLW | Corning Incorporated | Technology | $7.63B | $91.42B |
| 30 | NVDA | NVIDIA Corporation | Technology | $7.47B | $4.51T |
| 31 | SSNC | SS&C Technologies Holdings, Inc. | Technology | $7.41B | $18.24B |
| 32 | XYZ | Block, Inc. | Technology | $7.29B | $51.67B |
| 33 | VISN | Vistance Networks, Inc. | Technology | $7.26B | $1.27B |
| 34 | AMAT | Applied Materials, Inc. | Technology | $6.46B | $264.04B |
| 35 | INTU | Intuit Inc. | Technology | $6.42B | $91.26B |
| 36 | VSAT | Viasat, Inc. | Technology | $6.39B | $8.81B |
| 37 | ADBE | Adobe Inc. | Technology | $6.21B | $93.14B |
| 38 | LPL | LG Display Co., Ltd. | Technology | $6.17B | $2.54B |
| 39 | CSIQ | Canadian Solar Inc. | Technology | $6.01B | $755.01M |
| 40 | KLAC | KLA Corporation | Technology | $5.89B | $180.45B |
| 41 | OTEX | Open Text Corporation | Technology | $5.73B | $6.00B |
| 42 | MCHP | Microchip Technology Incorporated | Technology | $5.50B | $31.76B |
| 43 | SAP | SAP SE | Technology | $5.34B | $269.45B |
| 44 | SONY | Sony Group Corporation | Technology | $5.18B | $157.36B |
| 45 | ADP | Automatic Data Processing, Inc. | Technology | $4.96B | $119.75B |
| 46 | FICO | Fair Isaac Corporation | Technology | $4.92B | $15.22B |
| 47 | CACI | CACI International Inc | Technology | $4.85B | $13.51B |
| 48 | TEL | TE Connectivity plc | Technology | $4.84B | $59.52B |
| 49 | MU | Micron Technology, Inc. | Technology | $4.69B | $780.68B |
| 50 | SMCI | Super Micro Computer, Inc. | Technology | $4.66B | $18.89B |
| 51 | LDOS | Leidos Holdings, Inc. | Technology | $4.63B | $16.19B |
| 52 | CDW | CDW Corporation | Technology | $4.62B | $19.60B |
| 53 | CNXC | Concentrix Corporation | Technology | $4.57B | $1.85B |
| 54 | PAYX | Paychex, Inc. | Technology | $4.56B | $41.67B |
| 55 | FOUR | Shift4 Payments, Inc. | Technology | $4.54B | $3.47B |
| 56 | CLVT | Clarivate Plc | Technology | $4.32B | $1.50B |
| 57 | MKSI | MKS Inc. | Technology | $4.15B | $13.00B |
| 58 | AKAM | Akamai Technologies, Inc. | Technology | $4.11B | $11.94B |
| 59 | SABR | Sabre Corporation | Technology | $4.10B | $680.38M |
| 60 | Q | Qnity Electronics, Inc. | Technology | $4.00B | $24.46B |
| 61 | MRVL | Marvell Technology, Inc. | Technology | $3.97B | $127.05B |
| 62 | KD | Kyndryl Holdings, Inc. | Technology | $3.90B | $3.55B |
| 63 | GDDY | GoDaddy Inc. | Technology | $3.77B | $13.87B |
| 64 | FLEX | Flex Ltd. | Technology | $3.75B | $25.78B |
| 65 | LRCX | Lam Research Corporation | Technology | $3.72B | $250.84B |
| 66 | ENTG | Entegris, Inc. | Technology | $3.70B | $19.56B |
| 67 | SNX | TD SYNNEX Corporation | Technology | $3.59B | $17.45B |
| 68 | PAYP | PayPay Corporation | Technology | $3.55B | $10.10B |
| 69 | WEX | WEX Inc. | Technology | $3.53B | $5.99B |
| 70 | STX | Seagate Technology Holdings plc | Technology | $3.38B | $105.83B |
| 71 | GDS | GDS Holdings Limited | Technology | $3.34B | $4.48B |
| 72 | BR | Broadridge Financial Solutions, Inc. | Technology | $3.25B | $21.54B |
| 73 | COHR | Coherent Corp. | Technology | $3.21B | $37.98B |
| 74 | ASML | ASML Holding N.V. | Technology | $3.18B | $549.12B |
| 75 | ERIC | Telefonaktiebolaget LM Ericsson (publ) | Technology | $3.16B | $33.25B |
| 76 | ARW | Arrow Electronics, Inc. | Technology | $3.08B | $9.16B |
| 77 | DXC | DXC Technology Company | Technology | $3.03B | $2.31B |
| 78 | WDAY | Workday, Inc. | Technology | $2.99B | $46.49B |
| 79 | ON | ON Semiconductor Corporation | Technology | $2.98B | $24.65B |
| 80 | IT | Gartner, Inc. | Technology | $2.98B | $11.99B |
| 81 | JBL | Jabil Inc. | Technology | $2.88B | $24.62B |
| 82 | ST | Sensata Technologies Holding plc | Technology | $2.83B | $5.72B |
| 83 | INGM | Ingram Micro Holding Corporation | Technology | $2.75B | $5.83B |
| 84 | NOK | Nokia Oyj | Technology | $2.73B | $43.35B |
| 85 | RXT | Rackspace Technology, Inc. | Technology | $2.72B | $644.83M |
| 86 | CIFR | Cipher Digital Inc. | Technology | $2.71B | $2.99B |
| 87 | NATL | NCR Atleos Corporation | Technology | $2.67B | $3.49B |
| 88 | KEYS | Keysight Technologies, Inc. | Technology | $2.53B | $46.33B |
| 89 | ADSK | Autodesk, Inc. | Technology | $2.50B | $54.70B |
| 90 | NTAP | NetApp, Inc. | Technology | $2.49B | $33.23B |
| 91 | CDNS | Cadence Design Systems, Inc. | Technology | $2.48B | $87.78B |
| 92 | AVT | Avnet, Inc. | Technology | $2.48B | $6.52B |
| 93 | SAIC | Science Applications International Corporation | Technology | $2.47B | $6.13B |
| 94 | ZBRA | Zebra Technologies Corporation | Technology | $2.36B | $15.16B |
| 95 | AMD | Advanced Micro Devices, Inc. | Technology | $2.35B | $736.46B |
| 96 | FTV | Fortive Corporation | Technology | $2.31B | $19.46B |
| 97 | SNOW | Snowflake Inc. | Technology | $2.28B | $97.33B |
| 98 | ASTS | AST SpaceMobile, Inc. | Technology | $2.21B | $12.58B |
| 99 | TDY | Teledyne Technologies Incorporated | Technology | $2.03B | $28.68B |
| 100 | GIB | CGI Inc. | Technology | $2.01B | $17.25B |
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.
- Market cap: stated at each company's latest close, which is newer than the annual figure ranked here.
- 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.
Frequently asked questions
Why is technology usually considered a low-debt sector?
Most technology businesses are asset-light: their main investments are in engineering talent, software, and cloud infrastructure rather than factories or physical distribution. Operating cash flow is often strong once a platform reaches scale, which reduces the need for external financing. Many large software firms hold more cash than debt, putting them in a net-cash position. Debt appears in the sector primarily when a firm makes a large acquisition, carries legacy hardware operations, or chooses to issue debt opportunistically to fund buybacks at attractive rates.
Why do some mature tech firms carry large debt balances despite strong cash generation?
Mature technology businesses with predictable cash flows can borrow at low rates relative to their cost of equity, and they sometimes use debt to fund share repurchases, dividends, or acquisitions while preserving offshore cash positions. The decision is a capital structure optimization, not a liquidity necessity. Large absolute debt at these firms typically coexists with similarly large cash balances and ample interest coverage, producing net leverage ratios that look modest by broader market standards.