Top 15 Financial Services Stocks With the Least Debt
Marvin's rules found 15 Financial Services stocks with debt of no more than half of equity and a strong Overall score. American Integrity Insurance, Victory Capital and Atlantic Union Bankshares rank highest.
Debt-to-equity compares what a company owes with what its owners have put in. A lower figure means the company leans less on borrowed money. This list collects Financial Services companies where that ratio is no higher than half, and which also earn a solid Overall score from Marvin.
Debt means something different for banks, insurers and asset managers than it does for a typical factory or retailer. Banks and insurers hold customer money and policy obligations, so a debt-to-equity ratio shows only part of the picture. Treat it as a starting point for your own research, not a complete safety check.
The list is ranked by Overall score, not by lowest debt. Free cash flow margin is not available for any of these companies, so the profiles below lean on revenue growth, operating margin, return on equity and debt-to-equity.
The list
How Marvin ranked these stocks
Marvin started with companies above about $300 million in size, then kept those in the Financial Services sector with debt no more than half of equity and an Overall score of at least 55, allowing at most 4 per industry. They are ordered by Overall score, highest first. Marvin's scores are relative to each company's own industry, so a high score means a company compares well with its industry peers today. It does not compare companies across industries and is not a forecast.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The Financial Services sector, highest Overall score first, among companies with debt no more than half of equity and an Overall score of at least 55; at most 4 per industry.
The stocks, one by one
American Integrity Insurance Group, Inc. AII
American Integrity Insurance Group is a property and casualty insurer with revenue growth of 35.3% and an operating margin of 36.2%, both healthy. Debt-to-equity is only 0.09, and return on equity is 23.8%. Caution: one year of growth is a short record, and free cash flow data is unavailable.
Victory Capital Holdings, Inc. VCTR
Victory Capital, an asset manager, shows revenue growth of 46.2% and an operating margin of 41.3%, suggesting fast growth and solid profitability. Debt-to-equity of 0.43 is low but among the higher figures on this list. Return on equity is 19.4%. Caution: growth in a single year may not be typical.
Atlantic Union Bankshares Corporation AUB
Atlantic Union Bankshares is a regional bank with revenue growth of 68.1% and an operating margin of 40.1%, both strong. Debt-to-equity is 0.39. Caution: return on equity is only {{ROE_PLACEHOLDER}}, which is modest next to the insurers here.
First Busey Corporation BUSE
First Busey, a regional bank, combines very low debt-to-equity of 0.06 with revenue growth of 55.7% and an operating margin of 38.0%. Caution: return on equity of 9.7% is modest, so profit relative to shareholder capital is less impressive than its margins.
Slide Insurance Holdings, Inc. Common Stock SLDE
Slide Insurance Holdings is a property and casualty insurer with the lowest debt-to-equity on this list at 0.03. Its operating margin is 52.8% and return on equity is 46.5%, both very high. Revenue growth is 36.5%. Caution: a single year of results is a limited track record.
Financial Institutions, Inc. FISI
Financial Institutions, a regional bank, posted revenue growth of 109.5%, the highest here apart from one other company, with an operating margin of 39.1%. Debt-to-equity is 0.45, and return on equity is 12.8%. Caution: growth this large in one year may be unusual, and its quality score is lower than most peers on this list.
The Hartford Insurance Group, Inc. HIG
The Hartford is a diversified insurer with return on equity of 22.2% and debt-to-equity of 0.22, a good mix of profit and modest borrowing. Caution: revenue growth of 6.9% and an operating margin of 17.3% are the lower end of this list.
CNB Financial Corporation CCNE
CNB Financial, a regional bank, has revenue growth of 24.5% and an operating margin of 35.6%, with debt-to-equity of 0.29. Caution: return on equity of 10.6% is modest, meaning profit relative to shareholder capital is average rather than standout.
The Progressive Corporation PGR
Progressive, a property and casualty insurer, earns a high return on equity of 34.1% with debt-to-equity of 0.24. Revenue growth is 16.3%. Caution: its operating margin of 16.2% is thinner than most others on this list.
Brighthouse Financial, Inc. BHF
Brighthouse Financial, a life insurer, has revenue growth of 43.2% and debt-to-equity of 0.48, close to the upper limit for this list. Caution: its operating margin of 14.7% is thin, and its quality score of 62 is the lowest among these companies.
Palomar Holdings, Inc. PLMR
Palomar Holdings, a property and casualty insurer, shows revenue growth of 58.2% and return on equity of 20.7%, with debt-to-equity of 0.30. Caution: its operating margin of 24.1% is lower than most other insurers and banks on this list.
Capital One Financial Corporation COF
Capital One, a credit services company, has revenue growth of 36.6% and debt-to-equity of 0.40, near the upper end here. Caution: its operating margin of 21.0% and return on equity of 9.2% are both modest compared with others on the list.
Federated Hermes, Inc. FHI
Federated Hermes, an asset manager, offers return on equity of 32.9% and an operating margin of 27.1%, with debt-to-equity of 0.36. Caution: revenue growth of 10.3% is slower than most peers here, and its opportunity score is lower.
BlackRock, Inc. BLK
BlackRock, an asset manager, has an operating margin of 32.6% and debt-to-equity of 0.26, with revenue growth of 18.7%. Its quality score is 96. Caution: its opportunity score of 59 is the lowest on the list, pulling its Overall score down.
Jackson Financial Inc. JXN
Jackson Financial, a life insurer, grew revenue by 104.3% and has debt-to-equity of 0.28. Caution: its operating margin of -0.3% is slightly negative and return on equity of 1.0% is very low, so profitability is weak despite the growth.
Common questions
What does debt-to-equity tell me?
It compares a company's debts with the money its owners have invested. A lower ratio means the company relies less on borrowing. Every stock on this list has a ratio no higher than half.
Does low debt mean a financial stock is safe?
Not necessarily. Low debt is one useful sign, but banks and insurers also carry risks that this ratio does not capture, such as the quality of their loans or the claims they must pay. It should be read alongside profitability and other measures.
Why are the stocks not ranked from lowest debt to highest?
Marvin ranks them by Overall score, which is relative to each company's own industry. Low debt is a requirement for entering the list, but the order reflects the broader score, so a company with slightly more debt can rank higher.
Keep reading
- Top 20 Insurance Stocks Ranked by Marvin Scores
- Top 15 Fastest-Growing Profitable Financial Services Stocks
- Top 15 Financial Services Stocks by Marvin's Opportunity Score
- Top 15 Financial Services Stocks Right Now
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Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.