The companies that report no long-term debt
280 companies with revenue above $1bn have no long-term debt figure in their most recent annual filing. Almost none of them are debt-free.
This screen is the clearest illustration of a rule that governs everything else on this site: a missing figure and a reported zero are different facts, and treating them as the same one produces confident nonsense.
Banks, insurers and finance arms of manufacturers dominate the list. They carry enormous borrowings, but they do not present a line called long-term debt in the way an industrial company does. Their balance sheets separate deposits, policy reserves, short-term borrowings and long-term borrowings along entirely different lines, and the XBRL concept this site reads is simply not one they tag. Berkshire Hathaway is the canonical case: it is not a company without debt, it is a company that does not report it under that name.
A screener that filled the gap with zero would rank these companies as the safest balance sheets in the market. That is not a subtle error; it is an inversion. Here the value is absent, the company is excluded from any screen that needs it, and this page exists to say so.
The practical reading: when a metric is missing for a company you care about, open its filing. The figure usually exists somewhere, under a name the standard taxonomy does not cover.
What this is usually called
Analysts call this a missing tag rather than a zero balance, and it is the practical face of what XBRL calls an unreported concept. You will see the same idea described as a debt-free balance sheet, a company with no long-term borrowings, or net debt of zero -- three phrases that mean different things and are routinely used as though they did not. Long-term debt is the portion of borrowings due more than twelve months out; the rest sits in short-term debt or the current portion of long-term debt, neither of which this screen reads.
The question, as a query
Below is the query as a reader would type it. Edit the numbers to move the threshold and the answer changes with them.
MISSING(long_term_debt) AND revenue > 1b| Company | Revenue | Net income | Gross margin | Free cash flow |
|---|---|---|---|---|
| BRK.B InsurerBERKSHIRE HATHAWAY INC | $371.44B | $66.97B | Unavailable | $25.04B |
| FFORD MOTOR CO | $187.27B | Unavailable | 6.8% | Unavailable |
| GMGeneral Motors Co | $185.02B | $2.70B | Unavailable | $17.56B |
| JPM BankJPMORGAN CHASE & CO | $182.45B | $57.05B | Unavailable | Unavailable |
| SNEX Broker-dealerStoneX Group Inc. | $132.38B | $305.90M | 3.1% | $4.32B |
| PGR InsurerPROGRESSIVE CORP/OH/ | $87.67B | $11.31B | Unavailable | $17.20B |
| MET InsurerMETLIFE INC | $77.08B | $3.38B | Unavailable | Unavailable |
| ORCLORACLE CORP | $67.36B | $17.09B | Unavailable | -$23.69B |
| GLXY Broker-dealerGalaxy Digital Inc. | $60.41B | -$241.35M | Unavailable | Unavailable |
| GS Broker-dealerGOLDMAN SACHS GROUP INC | $58.28B | $17.18B | Unavailable | -$47.22B |
| TRV InsurerTRAVELERS COMPANIES, INC. | $48.83B | $6.29B | Unavailable | Unavailable |
| DEDEERE & CO | $45.68B | $5.03B | Unavailable | $6.10B |
| SMCISuper Micro Computer, Inc. | $39.06B | $2.23B | 10.8% | -$6.97B |
| DHIHORTON D R INC /DE/ | $34.25B | $3.59B | 23.7% | $3.28B |
| USB BankUS BANCORP \DE\ | $28.66B | $7.57B | Unavailable | Unavailable |
| PCARPACCAR INC | $28.44B | $2.38B | 20.1% | $3.67B |
| JLLJONES LANG LASALLE INC | $26.12B | $792.10M | Unavailable | Unavailable |
| GOLDGold.com, Inc. | $25.51B | $82.34M | 1.8% | $1.21B |
| ACGL InsurerARCH CAPITAL GROUP LTD. | $19.93B | $4.40B | Unavailable | Unavailable |
| KKR Broker-dealerKKR & Co. Inc. | $19.46B | $2.37B | Unavailable | Unavailable |
| AMP Broker-dealerAMERIPRISE FINANCIAL INC | $18.91B | $3.56B | Unavailable | Unavailable |
| GLPGLOBAL PARTNERS LP | $18.56B | $97.98M | 5.7% | Unavailable |
| CRBG InsurerCorebridge Financial, Inc. | $18.48B | -$366.00M | Unavailable | Unavailable |
| CNHCNH Industrial N.V. | $18.10B | $510.00M | 31.5% | Unavailable |
| EG InsurerEVEREST GROUP, LTD. | $17.50B | $1.59B | Unavailable | Unavailable |
| TEVATEVA PHARMACEUTICAL INDUSTRIES LTD | $17.26B | $1.41B | 51.8% | Unavailable |
| DKSDICK'S SPORTING GOODS, INC. | $17.22B | $849.24M | 32.9% | $400.17M |
| AFL InsurerAFLAC INC | $17.16B | $3.65B | Unavailable | Unavailable |
| EMEEMCOR Group, Inc. | $16.99B | $1.27B | 19.3% | Unavailable |
| RJF Broker-dealerRAYMOND JAMES FINANCIAL INC | $15.91B | $2.14B | Unavailable | $2.25B |
| KVUEKenvue Inc. | $15.12B | $1.47B | 58.1% | $1.72B |
| TXTTEXTRON INC | $14.80B | $921.00M | Unavailable | Unavailable |
| WRB InsurerBERKLEY W R CORP | $14.71B | $1.78B | Unavailable | Unavailable |
| STT BankSTATE STREET CORP | $13.94B | $2.94B | Unavailable | $10.84B |
| DASHDoorDash, Inc. | $13.72B | $935.00M | Unavailable | $2.17B |
| LKQLKQ CORP | $13.65B | $608.00M | 38.6% | Unavailable |
| AIZ InsurerASSURANT, INC. | $12.81B | $872.70M | Unavailable | $1.60B |
| ULTAUlta Beauty, Inc. | $12.39B | $1.15B | 39.1% | $1.07B |
| AESAES CORP | $12.23B | $910.00M | 18.1% | -$1.62B |
| APDAir Products & Chemicals, Inc. | $12.04B | -$394.50M | 31.4% | Unavailable |
Showing the 40 largest by revenue of 280. Open the full list in the screener.
What this does not show
This lists companies where the long-term debt concept is untagged, not companies that have repaid their borrowings. A genuinely debt-free company that tags the line as zero does not appear here.
The measures behind this
Long-term debt Cash & equivalents Revenue
Citing this
SequelSEC, “The companies that report no long-term debt”, 20 September 2026. https://sequelsec.com/findings/companies-that-report-no-long-term-debt
Figures are recomputed on every view from SEC filings, so a number quoted from this page should carry the date it was read.