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Top 10 Debt-Free Mid Cap Stocks in the US — Top 100 List

Of the 898 mid cap companies in the US on PositoAI, 134 report no debt (banks and lenders left out). First on the list is IPG Photonics Corporation (Positivity Score 24,524). 132 of them have lease obligations (offices, buildings and similar) but no borrowings; the rest have neither. 1 of the top 10 has an active red or yellow flag.

Positivity ScoreHigh dividendDebt freeLow debtLow PEBelow book valueHigh ROEHigh ROE + low PENo red flagsNo red or yellow flagsFundamentally strongNear 52-week lowNear 52-week highHigh score near 52-week lowHigh score near 52-week high
#Company Score Market Cap
(INR Cr) / USD		 P/E P/B Owes vs
Owns		 Leases ROE Div
Yield		 FlagSector
1 IPG Photonics CorporationIPGP 24,524 ₹27,867$2.95B 106.8 1.39 0.12× $17M 1.3% 0 — Technology
2 X-Energy, Inc.XE 24,365 ₹40,773$4.32B Loss 2.38 0.07× $21M — 0 — Industrials
3 The Trade Desk, Inc.TTD 23,517 ₹58,729$6.22B 15.9 2.42 0.55× $436M 15.4% 0 — Communication Services
4 Kratos Defense & Security Solutions, Inc.KTOS 23,294 ₹67,811$7.18B 225.1 2.10 0.16× $146M 1.1% 0 — Industrials
5 Oklo Inc.OKLO 22,928 ₹47,425$5.02B Loss 1.53 0.03× $1M -7.7% 0 — Utilities
6 Columbia Sportswear CompanyCOLM 22,532 ₹29,993$3.18B 16.2 1.98 0.43× $478M 12.7% 2.02% — Consumer Cyclical
7 PC Connection, Inc.CNXN 22,508 ₹21,085$2.23B 23.4 2.34 0.33× $2M 10.4% 0.91% — Technology
8 Octave Intelligence plcOCTV 22,361 ₹53,412$5.66B 18.3 1.11 0.24× $61M — 0 ⚑ Technology
9 RUM Group Inc.RUM 22,269 ₹20,918$2.22B Loss 1.66 0.33× $2M -18.4% 0 — Communication Services
10 Inspire Medical Systems, Inc.INSP 22,253 ₹19,827$2.10B 16.0 2.54 0.11× $32M 18.0% 0 — Healthcare

Top 20

11 Universal Display CorporationOLED 22,234 ₹37,943$4.02B 21.1 2.39 0.11× $19M 11.5% 2.39% — Technology
12 United States Lime & Minerals, Inc.USLM 22,233 ₹30,193$3.20B 23.9 4.60 0.07× $4M 21.4% 0.23% — Basic Materials
13 QuantumScape CorporationQS 22,117 ₹24,252$2.57B Loss 2.45 0.10× $71M -39.1% 0 — Consumer Cyclical
14 Calix, Inc.CALX 22,091 ₹21,936$2.32B 49.2 3.27 0.26× $16M 6.9% 0 — Technology
15 Joby Aviation, Inc.JOBY 21,995 ₹44,199$4.68B Loss 2.65 0.36× $37M -65.9% 0 ⚑ Industrials
16 Axcelis Technologies, Inc.ACLS 21,707 ₹30,530$3.23B 35.1 3.03 0.23× $42M 8.9% 0 — Technology
17 GPGI, Inc.GPGI 21,666 ₹34,340$3.64B Loss 1.15 0.08× None -20.6% 0.08% ⚑ Industrials
18 Navitas Semiconductor CorporationNVTS 21,636 ₹21,040$2.23B Loss 2.78 0.04× $6M -52.6% 0 — Technology
19 Cirrus Logic, Inc.CRUS 21,623 ₹52,268$5.54B 13.5 2.53 0.14× $134M 20.9% 0 — Technology
20 Duolingo, Inc.DUOL 21,451 ₹62,182$6.59B 16.8 4.67 0.32× $94M 34.4% 0 — Technology

Top 50

21 Acadia Pharmaceuticals Inc.ACAD 21,328 ₹33,032$3.50B 9.1 2.68 0.25× $52M 35.7% 0 — Healthcare
22 Monarch Casino & Resort, Inc.MCRI 21,320 ₹19,201$2.03B 18.2 3.53 0.22× $13M 20.5% 1.06% — Consumer Cyclical
23 American Eagle Outfitters, Inc.AEO 21,266 ₹28,297$3.00B 9.2 1.70 0.59× $1,700M 20.0% 2.88% — Consumer Cyclical
24 Boot Barn Holdings, Inc.BOOT 21,229 ₹34,234$3.63B 15.2 2.67 0.47× $773M 19.2% 0 — Consumer Cyclical
25 Rogers CorporationROG 21,181 ₹21,738$2.30B 74.9 1.91 0.17× $22M 2.6% 0 — Technology
26 UiPath, Inc.PATH 20,968 ₹68,574$7.26B 20.8 3.73 0.33× $81M 20.0% 0 — Technology
27 NetScout Systems, Inc.NTCT 20,877 ₹26,291$2.79B 23.5 1.67 0.28× $40M 7.5% 0 ⚑ Technology
28 Powell Industries, Inc.POWL 20,858 ₹51,827$5.49B 28.9 7.26 0.46× $2M 28.2% 0.21% — Industrials
29 Veracyte, Inc.VCYT 20,846 ₹34,935$3.70B 32.9 2.67 0.07× $40M 8.8% 0 — Healthcare
30 Pattern Group Inc.PTRN 20,827 ₹27,679$2.93B Loss 4.54 0.40× $31M 4.9% 0 — Consumer Cyclical
31 Urban Outfitters, Inc.URBN 20,614 ₹71,387$7.56B 13.8 2.65 0.44× $1,226M 20.9% 0 ⚑ Consumer Cyclical
32 Perdoceo Education CorporationPRDO 20,509 ₹19,976$2.12B 12.3 2.05 0.23× $118M 17.6% 2.08% — Consumer Defensive
33 Perpetua Resources Corp.PPTA 20,452 ₹20,380$2.16B Loss 3.00 0.07× $0M -37.8% 0 — Basic Materials
34 Doximity, Inc.DOCS 20,433 ₹56,665$6.00B 39.6 6.55 0.15× $10M 17.2% 0 — Healthcare
35 Dolby Laboratories, Inc.DLB 20,359 ₹55,948$5.93B 26.9 2.29 0.18× $39M 8.8% 2.30% — Industrials
36 Rambus Inc.RMBS 20,344 ₹87,768$9.30B 39.3 6.34 0.09× $25M 17.8% 0 — Technology
37 Proto Labs, Inc.PRLB 20,302 ₹19,048$2.02B 67.0 2.92 0.13× $3M 4.5% 0 — Industrials
38 Privia Health Group, Inc.PRVA 20,290 ₹27,592$2.92B 109.0 3.74 0.44× $10M 4.3% 0 — Healthcare
39 Robert Half Inc.RHI 20,280 ₹36,406$3.86B 32.8 3.19 0.58× $246M 9.1% 6.81% — Industrials
40 Cavco Industries, Inc.CVCO 20,258 ₹39,733$4.21B 23.8 3.82 0.26× $31M 16.7% 0 — Consumer Cyclical
41 UniFirst CorporationUNF 20,251 ₹47,623$5.05B 46.3 2.30 0.22× $72M 5.0% 0.53% — Industrials
42 SPS Commerce, Inc.SPSC 20,225 ₹31,242$3.31B 44.4 3.53 0.17× $7M 8.3% 0 — Technology
43 Innospec Inc.IOSP 20,184 ₹22,940$2.43B 20.1 1.81 0.27× $53M 9.1% 1.80% — Basic Materials
44 Cactus, Inc.WHD 20,183 ₹39,743$4.21B 50.7 3.39 0.34× $38M 13.1% 0.94% — Energy
45 The Buckle, Inc.BKE 20,100 ₹23,086$2.45B 10.9 5.00 0.55× $384M 45.8% 3.04% — Consumer Cyclical
46 Onto Innovation Inc.ONTO 20,080 ₹92,027$9.75B 74.7 5.07 0.48× $17M 6.8% 0 — Technology
47 DoubleVerify Holdings, Inc.DV 19,975 ₹19,990$2.12B 38.7 1.94 0.16× $100M 5.4% 0 — Communication Services
48 LiveRamp Holdings, Inc.RAMP 19,949 ₹21,943$2.32B 15.8 2.38 0.24× $30M 16.1% 0 — Technology
49 Flywire CorporationFLYW 19,747 ₹22,331$2.37B 73.7 2.90 0.30× $1M 4.2% 0 — Technology
50 Pegasystems Inc.PEGA 19,690 ₹56,874$6.03B 22.6 10.75 0.60× $76M 51.5% 0.34% — Technology

Top 100

51 Vicor CorporationVICR 19,625 ₹78,332$8.30B 47.0 9.95 0.07× $7M 23.5% 0 — Technology
52 EagleRock Land LLCEROK 19,534 ₹23,587$2.50B 7.3 7.62 0.03× None — 0 — Energy
53 IES Holdings, Inc.IESC 19,528 ₹88,357$9.36B 19.6 7.62 0.46× $88M 44.5% 0 — Industrials
54 Argan, Inc.AGX 19,496 ₹43,741$4.63B 26.1 9.14 0.64× $3M 39.9% 0.81% — Industrials
55 Supernus Pharmaceuticals, Inc.SUPN 19,400 ₹23,120$2.45B Loss 2.38 0.28× $41M -10.5% 0 — Healthcare
56 Via Transportation, Inc.VIA 19,390 ₹28,698$3.04B Loss 4.92 0.14× $19M -23.6% 0 — Technology
57 Beam Therapeutics Inc.BEAM 19,382 ₹23,944$2.54B Loss 2.38 0.23× $154M -8.2% 0 — Healthcare
58 Sprouts Farmers Market, Inc.SFM 19,326 ₹60,608$6.42B 13.2 4.28 0.65× $1,943M 35.2% 0 — Consumer Defensive
59 National Beverage Corp.FIZZ 19,236 ₹32,756$3.47B 19.9 9.44 0.37× $59M 40.1% 0 — Consumer Defensive
60 GRAIL, Inc.GRAL 19,211 ₹53,569$5.68B Loss 2.23 0.11× $55M -16.1% 0 — Healthcare
61 Celldex Therapeutics, Inc.CLDX 19,197 ₹21,473$2.28B Loss 3.18 0.09× $2M -43.9% 0 — Healthcare
62 The Boston Beer Company, Inc.SAM 19,190 ₹19,013$2.01B Loss 2.82 0.43× $38M -8.6% 0 — Consumer Defensive
63 Rigetti Computing, Inc.RGTI 19,187 ₹36,167$3.83B Loss 7.13 0.17× $7M -43.8% 0 — Technology
64 Cognex CorporationCGNX 19,153 ₹86,698$9.19B 52.5 5.64 0.25× $77M 11.2% 0.59% ⚑ Technology
65 Immunome, Inc.IMNM 19,147 ₹20,338$2.15B Loss 4.10 0.07× $4M -64.0% 0 — Healthcare
66 Enliven Therapeutics, Inc.ELVN 19,142 ₹28,999$3.07B Loss 3.43 0.02× $0M -15.3% 0 — Healthcare
67 Progyny, Inc.PGNY 19,120 ₹21,089$2.23B 31.7 4.93 0.37× $28M 16.2% 0 — Healthcare
68 Ouster, Inc.OUST 19,108 ₹19,045$2.02B Loss 5.43 0.22× $17M -18.0% 0 — Technology
69 Payoneer Global Inc.PAYO 19,101 ₹22,932$2.43B 51.2 3.72 0.93× $72M 7.1% 0 — Technology
70 Freshworks Inc.FRSH 19,074 ₹37,730$4.00B 24.3 4.46 0.40× $43M 19.7% 0 — Technology
71 Aurora Innovation, Inc.AUR 19,053 ₹91,938$9.74B Loss 4.99 0.10× $84M -45.6% 0 — Consumer Cyclical
72 Klaviyo, Inc.KVYO 19,004 ₹58,165$6.16B 686.3 6.37 0.30× $121M 0.7% 0 — Technology
73 Grand Canyon Education, Inc.LOPE 18,981 ₹40,708$4.31B 20.0 6.44 0.27× $107M 31.0% 0 — Consumer Defensive
74 CAVA Group, Inc.CAVA 18,948 ₹60,287$6.39B 99.4 7.59 0.44× $466M 8.3% 0 — Consumer Cyclical
75 Immunovant, Inc.IMVT 18,940 ₹56,735$6.01B Loss 8.17 0.14× $0M -80.1% 0 — Healthcare
76 Denali Therapeutics Inc.DNLI 18,929 ₹28,154$2.98B Loss 3.57 0.28× $37M -54.9% 0 — Healthcare
77 Guardian Pharmacy Services, Inc.GRDN 18,906 ₹23,670$2.51B 38.4 10.21 0.42× $37M 30.4% 0 — Healthcare
78 Agios Pharmaceuticals, Inc.AGIO 18,883 ₹20,957$2.22B Loss 2.16 0.07× $40M -34.3% 0 — Healthcare
79 Sonos, Inc.SONO 18,833 ₹19,769$2.09B 39.3 5.19 0.54× $60M 14.2% 0 — Technology
80 Paymentus Holdings, Inc.PAY 18,790 ₹40,500$4.29B 51.6 6.99 0.15× $7M 15.0% 0 — Technology
81 Dianthus Therapeutics, Inc.DNTH 18,780 ₹41,461$4.39B Loss 3.75 0.03× $1M -26.1% 0 — Healthcare
82 Vaxcyte, Inc.PCVX 18,713 ₹93,370$9.89B Loss 3.59 0.12× $117M -36.5% 0 — Healthcare
83 Krystal Biotech, Inc.KRYS 18,710 ₹89,439$9.48B 40.1 6.97 0.09× $9M 20.1% 0 — Healthcare
84 IDT CorporationIDT 18,637 ₹19,621$2.08B 24.2 5.81 0.44× $1M 25.8% 0.34% — Communication Services
85 Ambarella, Inc.AMBA 18,594 ₹26,298$2.79B Loss 4.49 0.20× $13M -9.4% 0 — Technology
86 Vericel CorporationVCEL 18,375 ₹20,769$2.20B 91.4 5.95 0.26× $96M 7.2% 0 — Healthcare
87 IDEAYA Biosciences, Inc.IDYA 18,360 ₹32,897$3.49B Loss 2.91 0.08× $28M -16.2% 0 — Healthcare
88 GigaCloud Technology Inc.GCT 18,146 ₹19,927$2.11B 14.0 3.95 0.58× $470M 32.3% 0 ⚑ Technology
89 Oruka Therapeutics, Inc.ORKA 18,079 ₹50,715$5.37B Loss 4.83 0.02× $2M -18.2% 0 — Healthcare
90 Nurix Therapeutics, Inc.NRIX 17,984 ₹26,306$2.79B 10.5 6.92 0.25× $56M 44.0% 0 — Healthcare
91 ServiceTitan, Inc.TTAN 17,820 ₹77,580$8.22B Loss 5.12 0.11× $51M -8.3% 0 — Technology
92 Praxis Precision Medicines, Inc.PRAX 17,798 ₹68,235$7.23B Loss 5.39 0.04× $0M -38.9% 0 ⚑ Healthcare
93 AvePoint, Inc.AVPT 17,767 ₹32,111$3.40B 50.2 7.79 0.42× $10M 16.2% 0 — Technology
94 Abercrombie & Fitch Co.ANF 17,676 ₹64,683$6.85B 13.9 5.06 0.62× $1,168M 40.6% 0 — Consumer Cyclical
95 MBX Biosciences, Inc.MBX 17,645 ₹22,938$2.43B Loss 5.93 0.06× $1M -33.2% 0 — Healthcare
96 Tango Therapeutics, Inc.TNGX 17,625 ₹44,451$4.71B Loss 4.60 0.05× $34M -21.3% 0 — Healthcare
97 Relay Therapeutics, Inc.RLAY 17,448 ₹37,936$4.02B Loss 4.52 0.08× $32M -36.8% 0 — Healthcare
98 Innodata Inc.INOD 17,310 ₹19,371$2.05B 46.3 12.86 0.55× $4M 37.8% 0 — Technology
99 FIGS, Inc.FIGS 17,243 ₹32,085$3.40B 62.0 7.68 0.24× $60M 14.8% 0 — Consumer Cyclical
100 CareDx, Inc.CDNA 17,086 ₹33,772$3.58B 33.2 8.41 0.20× $26M 29.5% 0 — Healthcare

Debt free in other groups · United States

All of United StatesLarge CapMid CapSmall CapS&P MidCap 400S&P SmallCap 600Nano CapMicro CapMini CapMeso CapTito Cap

Debt free in other countries

India

Questions

Which mid cap companies in the US have no debt?

The first five on PositoAI's list are IPG Photonics Corporation (24,524), X-Energy, Inc. (24,365), The Trade Desk, Inc. (23,517), Kratos Defense & Security Solutions, Inc. (23,294), Oklo Inc. (22,928).

How many mid cap companies in the US report no debt?

134 of the 898 mid cap companies in the US on PositoAI report no debt (banks and lenders left out); this page shows the top 100.

How is this list made?

Companies whose latest annual balance sheet shows no borrowings, ordered by Positivity Score. Lease obligations (for offices, buildings and similar) are not counted as borrowing; they are shown in the Leases column. Banks and lenders are left out, because borrowing is part of their business. The list is updated every day from PositoAI's data.

What counts as a mid cap stock in the US?

In the US, large cap usually means a market value above $10 billion, mid cap $2–10 billion and small cap $300 million to $2 billion.

Are lease obligations counted as debt on this list?

No. Many companies rent offices, buildings or equipment on long leases, and accounts show those payments as lease obligations. This list counts only borrowings, so a company with leases but no loans is debt free here. Each company's lease amount is shown in the Leases column.

Companies whose latest annual balance sheet shows no borrowings, ordered by Positivity Score. Lease obligations (for offices, buildings and similar) are not counted as borrowing; they are shown in the Leases column. Banks and lenders are left out, because borrowing is part of their business. Score is the Positivity Score; Owes vs Owns is everything a company owes compared with everything it owns (what each figure means); ⚑ marks an active red or yellow flag. All top lists for United States. PositoAI is for research and education only and is not investment advice.

Disclaimer — PositoAI is a research and screening tool for educational and informational purposes. It is not investment advice or a recommendation to buy or sell any security or mutual fund. Scores and rankings are calculated by PositoAI's own method using publicly available data, which may be incomplete, delayed or inaccurate, and past performance does not indicate future results. AI summaries of company news may contain errors. PositoAI is not registered with the SEC, SEBI or any other regulatory authority. Please do your own research or consult a licensed financial advisor before investing.