Debt to equity

How much of the company is borrowed against what the owners put in.

Formula	Total debt ÷ shareholders’ equity
Companies reporting it	442 of 573
Median	0.79x
Middle half	0.39x – 1.45x
Range	0.00x – 16.57x

When it lies. Meaningless where equity is negative or where deposits are not borrowings, so it is blank for banks and for buyback-driven negative equity rather than shown as a huge number.

By sector

Sector	n	Median	25th	75th
Utilities	57	1.41x	1.13x	1.77x
Communications	26	1.25x	0.71x	2.52x
Investment company	4	1.03x	1.01x	1.03x
Consumer discretionary	35	1.01x	0.44x	2.57x
Consumer staples	35	0.86x	0.46x	1.66x
Real estate	46	0.85x	0.66x	1.53x
Financial services	22	0.79x	0.46x	1.63x
Health care	35	0.73x	0.34x	0.98x
Industrials	65	0.67x	0.32x	1.15x
Materials	43	0.59x	0.33x	0.92x
Technology	34	0.42x	0.17x	1.03x
Energy	38	0.37x	0.23x	0.68x
not classified	2	0.00x	0.00x	0.35x

Highest debt to equity

#	Ticker	Company	Sector	Debt to equity
1	BRN	Barnwell Industries	Energy	0.00x
2	GILT	Gilat Satellite Networks	Technology	0.00x
3	OCG	Oriental Culture Holding	not classified	0.00x
4	UAMY	United States Antimony	Materials	0.00x
5	AMR	Alpha Metallurgical Resources	Energy	0.00x
6	PHM	Pultegroup	Industrials	0.00x
7	CXDO	Crexendo	Communications	0.02x
8	ESLT	Elbit Systems	Industrials	0.02x
9	CTSH	Cognizant Technology Solutions	Technology	0.04x
10	NHC	National Healthcare	Health care	0.04x
11	CMTL	Comtech Telecommunications	Technology	0.04x
12	IOTR	iOThree	Communications	0.04x
13	ZYBT	Zhengye Biotechnology Holding	Health care	0.04x
14	LUD	Luda Technology Group	Materials	0.05x
15	ASPI	ASP Isotopes	Materials	0.05x
16	BABA	Alibaba Group Holding	Industrials	0.05x
17	NVDA	Nvidia	Technology	0.05x
18	SND	Smart Sand	Materials	0.05x
19	FIX	Comfort Systems Usa	Industrials	0.06x
20	RMD	Resmed	Health care	0.06x

Lowest

#	Ticker	Company	Sector	Debt to equity
442	TNET	Trinet Group	Industrials	16.57x
441	OGN	Organon	Health care	11.49x
440	AMT	American Tower	Real estate	10.19x
439	SBGI	Sinclair	Communications	9.87x
438	NRG	NRG Energy	Utilities	9.76x
437	XRX	Xerox Holdings	Technology	9.57x
436	LVS	Las Vegas Sands	Consumer discretionary	9.22x
435	SVC	Service Properties Trust	Real estate	8.52x
434	CLX	Clorox	Consumer staples	7.74x
433	AMGN	Amgen	Health care	6.31x

The other metrics

All metrics, and which ones to ignore