Companies with the most long-term debt

Long-term debt is borrowing due more than a year out. A large figure is normal for capital-intensive businesses and says nothing on its own about financial health. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–100 of 2263 · Fiscal year 2025 · Data as of September 25, 2026

Federal National Mortgage Association Fannie Mae (FNMA) tops the list with $4.16T in long-term debt for fiscal 2025, ahead of Morgan Stanley ($342B) and Bank of America ($318B). The top 10 together report $6.25T in long-term debt; the gap between #1 and #10 is ×30.85. 2263 SEC filers report long-term debt; the list shows the top 100. The last place on the list, AstraZeneca, comes in at $24.7B.

Long-term debt
#CompanyLong-term debtYoY15-year trend
1Federal National Mortgage Association Fannie MaeFNMAUSFinancials$4.16T−1.4%
2Morgan StanleyMSUSFinancials$342B+20.2%
3Bank of AmericaBACUSFinancials$318B+12.2%
4CitigroupCUSFinancials$316B+9.9%
5JPMorgan ChaseJPMUSFinancials$268B+7.6%
6Goldman SachsGSUSFinancials$236B+3.7%
7Wells FargoWFCUSFinancials$175B+0.9%
8Federal Home Loan MortgageFMCCUSFinancials$169B+1.2%
9Verizon CommunicationsVZUSCommunication services$140B+15.0%
10AT&TTUSCommunication services$135B+10.3%
11Charter CommunicationsCHTRUSCommunication services$94.0B+2.0%
12ComcastCMCSAUSCommunication services$93.0B−1.3%
13NextEra EnergyNEEUSUtilities$89.6B+23.7%
14T-Mobile USTMUSUSCommunication services$81.1B+9.4%
15Duke EnergyDUKUSUtilities$80.1B+4.9%
16AppleAAPLUSTechnology$76.7B−8.7%
17EnbridgeENBCAEnergy$76.3B+7.8%
18UnitedHealth GroupUNHUSHealthcare$72.3B−0.1%
19Energy TransferETUSUtilities$68.3B+14.3%
20ShellSHELGBEnergy$66.5B+1.6%
21SouthernSOUSUtilities$65.6B+11.7%
22AmazonAMZNUSConsumer discretionary$65.6B+24.8%
23AbbVieABBVUSHealthcare$64.5B−3.5%
24BroadcomAVGOUSTechnology$63.8B+4.7%
25PfizerPFEUSHealthcare$61.6B+7.4%
26CVS HealthCVSUSHealthcare$60.5B−0.0%
27Meta PlatformsMETAUSTechnology$58.7B+103.8%
28Pg&EPCGUSUtilities$57.4B+7.1%
29PNC Financial ServicesPNCUSFinancials$57.1B−7.4%
30American ExpressAXPUSFinancials$56.4B+13.4%
31Blackstone Real Estate Income TrustBSTTUSReal estate$55.5B−5.1%
32International Business MachinesIBMUSTechnology$54.8B+9.9%
33BPBPGBEnergy$54.6B−0.9%
34BoeingBAUSIndustrials$53.8B+0.4%
35AmgenAMGNUSHealthcare$50.0B−11.6%
36Capital One FinancialCOFUSFinancials$49.9B+10.9%
37Home DepotHDUSConsumer discretionary$49.4B−3.8%
38TotalenergiesTTEFREnergy$49.0B+12.5%
39ExelonEXCUSUtilities$47.4B+10.4%
40MerckMRKUSHealthcare$46.8B+35.7%
41AlphabetGOOGLUSTechnology$46.5B+327.7%
42Dominion EnergyDUSUtilities$46.3B+17.8%
43Philip Morris InternationalPMUSConsumer staples$45.1B+7.0%
44American Electric PowerAEPUSUtilities$44.1B+12.3%
45IntelINTCUSTechnology$44.1B−4.7%
46Aercap HoldingsAERIEIndustrials$43.6B−3.8%
47Bristol Myers SquibbBMYUSHealthcare$42.9B−10.0%
48British American Tobacco P.L.CBTIGBConsumer staples$42.7B+4.4%
49PepsiCoPEPUSConsumer staples$42.3B+13.7%
50Coca ColaKOUSConsumer staples$42.1B−0.6%
51HCA HealthcareHCAUSHealthcare$41.6B+8.5%
52Brookfield Business PartnersBBUCBMIndustrials$41.1B+17.0%
53Eli LillyLLYUSHealthcare$40.9B+43.3%
54McDonald'sMCDUSConsumer discretionary$40.0B+4.0%
55US BancorpUSBUSFinancials$39.8B+24.0%
56Lowe's CompaniesLOWUSConsumer discretionary$39.8B+12.7%
57ChevronCVXUSEnergy$39.8B+97.6%
58Johnson & JohnsonJNJUSHealthcare$39.4B+28.7%
59Thermo Fisher ScientificTMOUSTechnology$39.2B+26.1%
60StellantisSTLANLConsumer discretionary$37.4B+43.8%
61KKRKKRUSFinancials$36.9B+10.2%
62Edison InternationalEIXUSUtilities$36.1B+7.6%
63Walt DisneyDISUSCommunication services$35.8B−7.4%
64First Citizens BancsharesFCNCAUSFinancials$35.8B−2.5%
65Rithm CapitalRITMUSReal estate$35.4B+8.9%
66MicrosoftMSFTUSTechnology$35.4B−10.8%
67Brookfield Property PartnersBPYPPBMReal estate$35.4B−1.7%
68PrologisPLDUSReal estate$35.0B+13.5%
69WalmartWMTUSConsumer discretionary$34.6B+3.7%
70RTXRTXUSIndustrials$34.3B−16.5%
71American TowerAMTUSReal estate$33.8B+3.1%
72Venture GlobalVGUSUtilities$33.4B+14.8%
73DeereDEUSIndustrials$32.8B+0.2%
74Enterprise Products PartnersEPDUSUtilities$32.8B+6.6%
75Warner Bros. DiscoveryWBDUSCommunication services$32.6B−17.6%
76Bank of New York MellonBNYUSFinancials$31.9B+3.3%
77Union PacificUNPUSIndustrials$31.8B+2.0%
78Cigna GroupCIUSHealthcare$30.9B+6.7%
79Elevance HealthELVUSHealthcare$30.8B+5.4%
80Kinder MorganKMIUSUtilities$30.8B+3.0%
81OneokOKEUSUtilities$30.8B−0.8%
82CaterpillarCATUSIndustrials$30.7B+12.2%
83Marathon PetroleumMPCUSEnergy$30.5B+24.9%
84TransDigm GroupTDGUSIndustrials$29.3B+20.2%
85SempraSREUSUtilities$29.0B−8.2%
86Teva Pharmaceutical IndustriesTEVAILHealthcare$28.8B−11.4%
87Honeywell InternationalHONUSIndustrials$28.7B+6.9%
88Simon PropertySPGUSReal estate$28.4B+17.2%
89EntergyETRUSUtilities$27.9B+4.8%
90MedtronicMDTIEHealthcare$27.9B+16.2%
91FiservFISVUSTechnology$27.8B+17.0%
92Williams CompaniesWMBUSUtilities$27.3B+10.4%
93Eversource EnergyESUSUtilities$26.9B+4.6%
94Rogers CommunicationsRCICACommunication services$26.2B−1.3%
95Optimum CommunicationsOPTUUSCommunication services$26.1B+5.1%
96Procter & GamblePGUSConsumer staples$25.6B+1.2%
97Consolidated EdisonEDUSUtilities$25.6B+3.4%
98FirstenergyFEUSUtilities$25.5B+13.4%
99BceBCECACommunication services$25.5B+11.7%
100AstraZenecaAZNGBHealthcare$24.7B−6.8%

All figures from SEC filings · FY2025 · 100

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@misc{companiesranked-en-companies-with-the-most-debt-2026,
  author       = {{CompaniesRanked}},
  title        = {{Companies with the most long-term debt}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/companies-with-the-most-debt}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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