Ten years without a single reported loss
777 companies have reported positive net income in every one of their last ten annual filings.
Ten consecutive profitable years covers a pandemic, an inflation shock and at least one interest-rate cycle. Surviving all of it without a single loss year is a genuine filter, and it selects for a particular kind of business: one whose costs move with its revenue.
What the list is not is a quality ranking. A regulated utility earning a guaranteed return will pass; a superb business that took one large write-down in 2020 will not. Consistency and excellence overlap but are not the same property, and this measures only the first.
It is also a survivorship screen. Companies that went bankrupt or were acquired during the decade are not in the database to fail it, so the pass rate here overstates how likely a given company was to manage the run.
What this is usually called
Screens like this are sold as earnings consistency, earnings stability or an unbroken profitability record. Net income is the bottom line, also called profit after tax or net earnings, and it is the figure after interest, tax and every non-operating item. A company can have ten profitable years and poor cash generation throughout, which is why the free cash flow version of this screen is the harder test.
The question, as a query
The table is generated by running this against the filings held today. The syntax is the screener's, so the query is a starting point rather than a result.
POSITIVE_FOR(net_income,10)| Company | Revenue | Net income | Gross margin | Free cash flow |
|---|---|---|---|---|
| WMTWalmart Inc. | $713.16B | $21.89B | 24.9% | $14.92B |
| UNH InsurerUNITEDHEALTH GROUP INC | $447.57B | $12.06B | 88.7% | $16.08B |
| AAPLApple Inc. | $416.16B | $112.01B | 46.9% | $98.77B |
| GOOGLAlphabet Inc. | $402.84B | $132.17B | 59.7% | $73.27B |
| MSFTMICROSOFT CORP | $331.84B | $133.75B | 67.9% | $66.99B |
| COSTCOSTCO WHOLESALE CORP /NEW | $275.24B | $8.10B | 12.8% | $7.84B |
| NVDANVIDIA CORP | $215.94B | $120.07B | 71.1% | Unavailable |
| METAMeta Platforms, Inc. | $200.97B | $60.46B | 82.0% | $46.11B |
| ELV InsurerElevance Health, Inc. | $199.12B | $5.66B | 89.4% | $3.17B |
| JPM BankJPMORGAN CHASE & CO | $182.45B | $57.05B | Unavailable | Unavailable |
| HDHOME DEPOT, INC. | $164.68B | $14.16B | 33.3% | Unavailable |
| KRKROGER CO | $147.64B | $1.02B | Unavailable | Unavailable |
| VZVERIZON COMMUNICATIONS INC | $138.19B | $17.17B | Unavailable | Unavailable |
| HUM InsurerHUMANA INC | $129.66B | $1.19B | Unavailable | $375.00M |
| CMCSACOMCAST CORP | $123.71B | $20.00B | Unavailable | $21.89B |
| BAC BankBANK OF AMERICA CORP /DE/ | $113.10B | $30.51B | Unavailable | Unavailable |
| FDXFEDEX CORP | $94.72B | $4.43B | Unavailable | Unavailable |
| JNJJOHNSON & JOHNSON | $94.19B | $26.80B | 67.9% | $19.70B |
| PEPPEPSICO INC | $93.92B | $8.24B | 54.1% | Unavailable |
| UPSUNITED PARCEL SERVICE INC | $88.66B | $5.57B | Unavailable | $4.76B |
| TMUST-Mobile US, Inc. | $88.31B | $10.99B | Unavailable | $18.00B |
| PGR InsurerPROGRESSIVE CORP/OH/ | $87.67B | $11.31B | Unavailable | $17.20B |
| PGPROCTER & GAMBLE Co | $87.03B | $16.05B | 50.2% | $15.15B |
| LOWLOWES COMPANIES INC | $86.29B | $6.65B | 33.5% | $7.65B |
| WFC BankWELLS FARGO & COMPANY/MN | $83.70B | $21.34B | Unavailable | Unavailable |
| ADMArcher-Daniels-Midland Co | $80.27B | $1.08B | 6.3% | $4.20B |
| MET InsurerMETLIFE INC | $77.08B | $3.38B | Unavailable | Unavailable |
| HCAHCA Healthcare, Inc. | $75.60B | $6.78B | Unavailable | $7.69B |
| LMTLOCKHEED MARTIN CORP | $75.05B | $5.02B | 10.2% | Unavailable |
| AXP BankAMERICAN EXPRESS CO | $72.23B | $10.83B | Unavailable | $16.00B |
| MS Broker-dealerMORGAN STANLEY | $70.64B | $16.86B | Unavailable | Unavailable |
| ACNAccenture plc | $69.67B | $7.68B | 31.9% | $10.87B |
| IBMINTERNATIONAL BUSINESS MACHINES CORP | $67.54B | $10.59B | 58.2% | $12.10B |
| ORCLORACLE CORP | $67.36B | $17.09B | Unavailable | -$23.69B |
| ENBENBRIDGE INC | $65.19B | $7.49B | Unavailable | $3.30B |
| MRKMerck & Co., Inc. | $65.01B | $18.25B | 74.8% | $12.36B |
| CSCOCISCO SYSTEMS, INC. | $63.32B | $13.27B | 64.5% | $12.77B |
| PFEPFIZER INC | $62.58B | $7.77B | 74.3% | $9.08B |
| SNXTD SYNNEX CORP | $62.51B | $827.66M | 7.0% | Unavailable |
| ABBVAbbVie Inc. | $61.16B | $4.23B | 70.2% | $17.82B |
Showing the 40 largest by revenue of 777. Open the full list in the screener.
What this does not show
Requires ten annual filings in the database, so companies that listed more recently cannot appear regardless of their record.
The measures behind this
Net income Revenue Free cash flow
Citing this
SequelSEC, “Ten years without a single reported loss”, 23 September 2026. https://sequelsec.com/findings/ten-years-without-a-loss
Figures are recomputed on every view from SEC filings, so a number quoted from this page should carry the date it was read.