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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Financials 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 217 · 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 $6.09T in long-term debt; the gap between #1 and #10 is ×73.70. 217 companies in Financials report long-term debt, 9.6% of the 2263-filer universe. The last place on the list, Walker & Dunlop, comes in at $1.4B.

Long-term debt
#CompanyLong-term debtYoY15-year trend
1Federal National Mortgage Association Fannie MaeFNMAUS$4.16T−1.4%
2Morgan StanleyMSUS$342B+20.2%
3Bank of AmericaBACUS$318B+12.2%
4CitigroupCUS$316B+9.9%
5JPMorgan ChaseJPMUS$268B+7.6%
6Goldman SachsGSUS$236B+3.7%
7Wells FargoWFCUS$175B+0.9%
8Federal Home Loan MortgageFMCCUS$169B+1.2%
9PNC Financial ServicesPNCUS$57.1B−7.4%
10American ExpressAXPUS$56.4B+13.4%
11Capital One FinancialCOFUS$49.9B+10.9%
12US BancorpUSBUS$39.8B+24.0%
13KKRKKRUS$36.9B+10.2%
14First Citizens BancsharesFCNCAUS$35.8B−2.5%
15Bank of New York MellonBNYUS$31.9B+3.3%
16MetLifeMETUS$23.7B—
17Schwab CharlesSCHWUS$22.2B−1.0%
18Prudential FinancialPRUUS$18.9B−1.7%
19Intercontinental ExchangeICEUS$18.6B+7.3%
20Marsh & Mclennan CompaniesMRSHUS$18.3B−5.7%
21Huntington BancsharesHBANUS$17.2B+5.2%
22Jefferies FinancialJEFUS$15.9B+17.5%
23ChubbCBCH$15.7B+9.4%
24AonAONIE$14.7B−9.9%
25Ally FinancialALLYUS$14.4B+13.7%
26Apollo Global ManagementAPOUS$13.4B+26.2%
27BlackRockBLKUS$12.8B+3.7%
28BlackstoneBXUS$12.6B+9.7%
29Arthur J. GallagherAJGUS$12.1B−4.9%
30State StreetSTTUS$11.5B+14.5%
31Citizens FinancialCFGUS$11.2B−9.5%
32M&T BankMTBUS$10.9B−13.4%
33Rocket CompaniesRKTUS$10.4B—
34KeycorpKEYUS$9.9B−18.1%
35American InternationalAIGUS$9.2B+3.0%
36Affirm HoldingsAFRMUS$9.0B+23.3%
37NasdaqNDAQUS$8.6B−5.6%
38LoewsLUS$8.4B−5.6%
39StrategyMSTRUS$8.2B+13.5%
40Corebridge FinancialCRBGUS$7.9B+1,742.6%
41Athene HoldingATH-PAUS$7.8B+24.4%
42AllstateALLUS$7.5B−7.4%
43LPL FinancialLPLAUS$7.3B+32.1%
44Brown & BrownBROUS$6.9B+91.6%
45Coinbase GlobalCOINUS$5.9B+40.2%
46Lincoln NationalLNCUS$5.9B+0.2%
47Travelers CompaniesTRVUS$5.9B−6.4%
48Willis Towers WatsonWTWGB$5.8B+8.4%
49Reinsurance Group of AmericaRGAUS$5.7B+13.2%
50Sofi TechnologiesSOFIUS$5.5B+39.0%
51Manulife FinancialMFCCA$4.6B+0.6%
52Enova InternationalENVAUS$4.5B+26.2%
53Fidelity National FinancialFNFUS$4.4B+1.8%
54Hartford InsuranceHIGUS$4.4B+0.1%
55Bread FinancialBFHUS$4.3B−22.5%
56Markel GroupMKLUS$4.3B−0.6%
57Encore CapitalECPGUS$4.0B+8.7%
58Equitable HoldingsEQHUS$3.8B+0.1%
59Blue Owl CapitalOWLUS$3.3B+28.4%
60Ryan SpecialtyRYANUS$3.3B+1.9%
61Mara HoldingsMARAUS$3.2B+30.9%
62Brighthouse FinancialBHFUS$3.2B0.0%
63TerawulfWULFUS$3.1B+$3.1B
64Uwm HoldingsUWMCUS$3.0B+7.1%
65Cna FinancialCNAUS$3.0B−0.1%
66American NationalANG-PDUS$3.0B−0.2%
67Onity GroupONITUS$2.7B−34.9%
68Cipher DigitalCIFRUS$2.7B+$2.7B
69ProgressivePGRUS$2.7B+25.1%
70Affiliated ManagersAMGUS$2.7B+2.7%
71Franklin TempletonBENUS$2.4B−15.1%
72Renaissancere HoldingsRNRBM$2.3B+23.5%
73Globe LifeGLUS$2.3B−0.1%
74Carlyle GroupCGUS$2.3B+9.7%
75F&G Annuities & LifeFGUS$2.2B+3.0%
76Burford CapitalBUR$2.1B+20.7%
77LoandepotLDIUS$2.1B+3.6%
78Banc of CaliforniaBANCUS$2.1B+48.3%
79Virtu FinancialVIRTUS$2.0B+17.2%
80Jackson FinancialJXNUS$2.0B−0.2%
81AssurantAIZUS$2.0B+0.0%
82InvescoIVZUS$1.8B+104.9%
83American FinancialAFGUS$1.8B+23.4%
84Pra GroupPRAAUS$1.8B+805.1%
85CleansparkCLSKUS$1.8B+178.6%
86BGC GroupBGCUS$1.8B+32.8%
87Jefferson CapitalJCAPUS$1.8B—
88Credit AcceptanceCACCUS$1.8B+25.9%
89TPGTPGUS$1.7B+34.4%
90Assured GuarantyAGOBM$1.7B+0.3%
91LazardLAZUS$1.7B+0.1%
92Regional ManagementRMUS$1.6B+11.6%
93Voya FinancialVOYAUS$1.5B−27.8%
94Genworth FinancialGNWUS$1.5B−0.3%
95Zions Bancorporation, National AssociationZIONUS$1.5B+55.6%
96Cboe Global MarketsCBOEUS$1.4B+0.1%
97BRC GroupRILYUS$1.4B−6.7%
98Northern TrustNTRSUS$1.4B−33.4%
99Western Alliance BancorporationWALUS$1.4B−42.5%
100Walker & DunlopWDUS$1.4B+153.5%

All figures from SEC filings · FY2025 · 100

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{{cite web |title=Financials companies with the most long-term debt |url=https://companiesranked.com/en/financial-companies-with-the-most-debt |website=CompaniesRanked |date=2026-09-25 |language=en}}

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@misc{companiesranked-en-financial-companies-with-the-most-debt-2026,
  author       = {{CompaniesRanked}},
  title        = {{Financials companies with the most long-term debt}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/financial-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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