Updated 05/25/2018: Scroll down the page to find the current list of debt-free S&P 400 mid-cap companies. This list is updated on quarterly basis. For a list of debt-free S&P 500 companies, click here.
The easiest way to own all the debt-free stocks is through M1 Finance. M1 Finance is a no-fee online brokerage, completely free as of December 2017. Using M1 Finance, you can create a “Pie” which is a group of stocks to invest in all at once. Very cool way to invest for long-term investors. Check it out. Read my M1 Finance review here.
To find the list of debt-free S&P 400 mid-cap companies, I tested various filtering tools and stock screeners around the web to find tools with access to the necessary data sets. Few were sufficient. The best screener I could find was in my own TD Ameritrade account.
My screen had two constraints:
- Index = S&P 400 mid-cap
- Debt to Capital = 0%
Once I screened the debt-free companies, I cross-checked each balance sheet via Yahoo Finance to verify the companies had no long or short-term debt.
The table in the following section contains the list of 21 stocks and some basic information including market capitalization, PE ratio, dividend, and yield.
This list is not a recommendation to buy or sell these stocks. For investors that value conservative management or a debt-free lifestyle, this may be a starting point to add positions to your portfolio.
As always, further research should be conducted before buying or selling.
If you see any discrepancies in this list or believe another company belongs or one should be ousted, please contact me or add a note in the comments section.
Buy all the Debt-Free S&P 400 Stocks for Free
You can attempt to buy each debt-free S&P 500 company one at a time. You’ll pay a lot of fees to accomplish this. I prefer a more efficient method.
I’m a big fan of the online broker M1 Finance a no-fee robo-advisor and online brokerage. With M1 Finance, you can create your own “pie” which is a customized investment plan where you can decide which stocks or ETFs to own. When you add new funds to your account, the funds are automatically allocated to your investment plan. You can choose all the debt-free stocks and make them one piece of the pie.
There are no trading or transaction fees. Period. I’m really impressed by this new platform. It’s sort of a robo-adviser for active investors. You choose the allocations, M1 invests your money for you.
List of Debt-Free S&P 400 Mid-Cap Companies
Update 05/25/2018: Removed: BIVV LC JKHY Added: NATI ABMD FIVE ICUI MMS
Update 01/04/2018: Removed: KNX SEIC Added: BIVV JKHY LOGM SAFM
Update 08/25/2017: Removed: ALGN ANSS BIVV UTHR WSM Added: CRUS KNX
I hope investors find this list of debt-free S&P 400 mid-cap companies to be useful. Please comment below if you believe adjustments need to be made.
Disclosure: The author is long LC
Featured photo credit: iStock.com/marekuliasz
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