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

Of the 1,114 small cap companies in the US on PositoAI, 204 report no debt (banks and lenders left out). First on the list is MapLight Therapeutics, Inc. (Positivity Score 24,402). 200 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 MapLight Therapeutics, Inc.MPLT 24,402 ₹4,327$458.50M Loss 1.32 0.05× $6M -111.5% 0 — Healthcare
2 WEBTOON Entertainment Inc.WBTN 24,239 ₹12,169$1.29B Loss 1.11 0.23× $24M -26.3% 0 — Communication Services
3 Haverty Furniture Companies, Inc.HVT 24,163 ₹4,268$452.22M 21.2 1.54 0.55× $216M 7.6% 4.28% — Consumer Cyclical
4 WhiteFiber, Inc.WYFI 24,147 ₹3,868$409.85M Loss 1.21 0.62× $23M -13.7% 0 — Technology
5 Assembly Biosciences, Inc.ASMB 23,850 ₹3,897$412.91M 19.5 1.35 0.08× $3M -0.0% 0 — Healthcare
6 Tron Inc.TRON 23,718 ₹6,716$711.57M Loss 2.81 0.01× $1M 3.8% 0 — Consumer Cyclical
7 Terrestrial Energy Inc.IMSR 23,323 ₹2,859$302.97M Loss 1.08 0.03× $2M -27.4% 0 ⚑ Utilities
8 Clearfield, Inc.CLFD 23,267 ₹3,526$373.56M 50.9 1.52 0.08× $9M 1.6% 0 — Technology
9 Intrepid Potash, Inc.IPI 23,263 ₹3,908$414.06M 32.4 0.80 0.21× $3M 3.1% 0 — Basic Materials
10 Shoe Station Group Inc.SHOE 23,225 ₹3,648$386.55M 16.2 0.57 0.42× $371M 3.6% 5.14% — Consumer Cyclical

Top 20

11 PrimeEnergy Resources CorporationPNRG 23,211 ₹3,019$319.88M 19.5 1.46 0.31× $4M 11.7% 0 ⚑ Energy
12 American Superconductor CorporationAMSC 23,132 ₹11,435$1.21B 8.4 2.12 0.25× $4M 30.2% 0 — Industrials
13 Marten Transport, Ltd.MRTN 23,106 ₹9,480$1.00B 82.0 1.31 0.20× $0M 1.6% 1.90% — Industrials
14 Wave Life Sciences, Inc.WVE 23,025 ₹6,230$660.11M Loss 1.46 0.19× $18M -67.4% 0 — Healthcare
15 Photronics, Inc.PLAB 22,981 ₹15,536$1.65B 9.9 1.29 0.12× $6M 13.8% 0 — Technology
16 NANO Nuclear Energy Inc.NNE 22,862 ₹6,350$672.84M Loss 1.09 0.02× $3M -8.0% 0 — Industrials
17 Energy Recovery, Inc.ERII 22,805 ₹3,213$340.47M 25.7 1.97 0.13× $9M 8.6% 0 ⚑ Industrials
18 Build-A-Bear Workshop, Inc.BBW 22,794 ₹2,836$300.47M 6.0 1.89 0.52× $127M 32.8% 3.94% — Consumer Cyclical
19 Solid Power, Inc.SLDP 22,761 ₹4,350$460.93M Loss 0.92 0.05× $8M -20.6% 0 — Consumer Cyclical
20 Forward Industries, Inc.FWDI 22,577 ₹5,033$533.25M Loss 1.12 0.21× $3M -461.4% 0 — Consumer Cyclical

Top 50

21 Capricor Therapeutics, Inc.CAPR 22,522 ₹3,364$356.39M Loss 1.45 0.33× $15M -73.7% 0 — Healthcare
22 HawkEye 360, Inc.HAWK 22,418 ₹10,791$1.14B Loss 1.44 0.12× $16M — 0 — Industrials
23 Allogene Therapeutics, Inc.ALLO 22,362 ₹4,076$431.86M Loss 0.99 0.21× $83M -42.4% 0 — Healthcare
24 Vital Farms, Inc.VITL 22,239 ₹3,813$403.99M Loss 1.42 0.43× $53M 0.1% 0 — Consumer Defensive
25 Yelp Inc.YELP 22,184 ₹10,602$1.12B 10.0 1.74 0.35× $25M 18.2% 0 — Communication Services
26 i3 Verticals, Inc.IIIV 22,112 ₹5,725$606.62M 60.1 2.16 0.36× $5M 2.3% 0 — Technology
27 Avalo Therapeutics, Inc.AVTX 22,085 ₹3,771$399.54M Loss 0.89 0.09× $0M -36.3% 0 — Healthcare
28 Uranium Royalty Corp.UROY 22,026 ₹12,157$1.29B 8.9 1.34 0.43× $0M 8.5% 0 — Energy
29 Ethan Allen Interiors Inc.ETD 22,016 ₹4,946$524.00M 13.3 1.11 0.34× $120M 8.4% 7.89% — Consumer Cyclical
30 Artiva Biotherapeutics, Inc.ARTV 22,004 ₹2,861$303.12M Loss 0.87 0.06× $11M -36.6% 0 — Healthcare
31 Quantum Computing Inc.QUBT 21,972 ₹14,079$1.49B Loss 0.94 0.03× $2M -1.5% 0 — Technology
32 NioCorp Developments Ltd.NB 21,942 ₹4,088$433.17M Loss 0.99 0.07× $0M -22.1% 0 — Basic Materials
33 Tectonic Therapeutic, Inc.TECX 21,891 ₹3,891$412.30M Loss 1.84 0.06× $1M -33.8% 0 — Healthcare
34 Alumis Inc.ALMS 21,875 ₹8,332$882.75M Loss 1.95 0.19× $37M -93.7% 0 — Healthcare
35 REX American Resources CorporationREX 21,786 ₹12,469$1.32B 10.9 1.96 0.10× $21M 19.6% 0 — Basic Materials
36 Grid Dynamics Holdings, Inc.GDYN 21,758 ₹6,554$694.45M 285.3 1.34 0.13× $17M 0.5% 0 — Technology
37 Lifeway Foods, Inc.LWAY 21,721 ₹3,268$346.25M 33.2 4.09 0.36× $0M 13.3% 0 — Consumer Defensive
38 Tactile Systems Technology, Inc.TCMD 21,697 ₹5,033$533.23M 21.8 2.38 0.20× $16M 11.9% 0 — Healthcare
39 Hyliion Holdings Corp.HYLN 21,650 ₹5,225$553.65M Loss 3.27 0.06× $4M -27.1% 0 — Consumer Cyclical
40 CytomX Therapeutics, Inc.CTMX 21,633 ₹5,018$531.67M Loss 1.76 0.21× $4M -37.8% 0 — Healthcare
41 La-Z-Boy IncorporatedLZB 21,582 ₹11,493$1.22B 15.4 1.20 0.49× $564M 8.1% 3.38% — Consumer Cyclical
42 Weyco Group, Inc.WEYS 21,517 ₹4,673$495.12M 14.5 1.94 0.18× $11M 13.8% 2.18% — Consumer Cyclical
43 Arbutus Biopharma CorporationABUS 21,508 ₹6,090$645.29M 5.3 2.49 0.06× $1M 89.6% 0 — Healthcare
44 Lincoln Educational Services CorporationLINC 21,458 ₹6,575$696.60M 30.1 3.44 0.62× $204M 11.9% 0 — Consumer Defensive
45 J&J Snack Foods Corp.JJSF 21,452 ₹14,971$1.59B 32.9 1.78 0.34× $164M 5.3% 3.91% — Consumer Defensive
46 Insteel Industries Inc.IIIN 21,450 ₹5,536$586.55M 16.2 1.58 0.22× $4M 10.0% 0.39% — Industrials
47 Kura Sushi USA, Inc.KRUS 21,447 ₹3,946$418.08M Loss 1.81 0.51× $170M -0.9% 0 — Consumer Cyclical
48 Metallus Inc.MTUS 21,389 ₹7,867$833.55M 105.8 1.20 0.39× $15M 1.2% 0 — Basic Materials
49 Nektar TherapeuticsNKTR 21,359 ₹12,456$1.32B Loss 1.46 0.18× $86M -35.8% 0 — Healthcare
50 Hycroft Mining Holding CorporationHYMC 21,339 ₹13,861$1.47B Loss 5.85 0.14× $0M -73.2% 0 — Basic Materials

Top 100

51 Movado Group, Inc.MOV 21,317 ₹6,798$720.24M 17.8 1.42 0.32× $79M 8.4% 4.94% — Consumer Cyclical
52 Eikon Therapeutics, Inc.EIKN 21,307 ₹4,212$446.32M Loss 0.96 0.40× $257M — 0 — Healthcare
53 Stratasys Ltd.SSYS 21,306 ₹5,646$598.22M Loss 0.73 0.22× $26M -13.4% 0 — Technology
54 Phoenix Education Partners, Inc.PXED 21,300 ₹8,360$885.68M 10.6 2.73 0.46× $73M 25.3% 3.55% — Consumer Defensive
55 Kardigan, Inc.KARD 21,274 ₹11,244$1.19B Loss 1.94 0.15× $14M — 0 — Healthcare
56 Kailera Therapeutics, Inc.KLRA 21,225 ₹16,238$1.72B Loss 1.54 0.08× $11M — 0 — Healthcare
57 Sturm, Ruger & Company, Inc.RGR 21,151 ₹7,176$760.25M 63.4 2.62 0.20× $1M 4.2% 1.68% — Industrials
58 Bright Minds Biosciences Inc.DRUG 21,138 ₹4,905$519.74M Loss 2.37 0.01× C$0M -13.6% 0 — Healthcare
59 Aktis Oncology, Inc.AKTS 21,117 ₹8,798$932.18M Loss 1.92 0.13× $12M — 0 — Healthcare
60 Gibraltar Industries, Inc.ROCK 21,096 ₹10,994$1.16B 19.4 1.31 0.68× $58M 6.2% 0 — Industrials
61 Rezolute, Inc.RZLT 21,093 ₹3,524$373.35M Loss 3.20 0.07× $2M -59.0% 0 — Healthcare
62 Janux Therapeutics, Inc.JANX 21,031 ₹9,844$1.04B Loss 1.12 0.08× $22M -10.7% 0 — Healthcare
63 STAAR Surgical CompanySTAA 20,977 ₹10,644$1.13B 281.1 3.09 0.23× $38M 1.1% 0 — Healthcare
64 Strategic Education, Inc.STRA 20,971 ₹17,102$1.81B 13.6 1.11 0.21× $109M 8.2% 3.02% — Consumer Defensive
65 Contineum Therapeutics, Inc.CTNM 20,951 ₹2,981$315.83M Loss 1.32 0.04× $8M -28.0% 0 — Healthcare
66 Innovex International, Inc.INVX 20,896 ₹18,437$1.95B 31.4 1.85 0.20× $79M 6.0% 0 — Energy
67 Natural Grocers by Vitamin Cottage, Inc.NGVC 20,873 ₹7,041$745.99M 15.8 3.12 0.65× $332M 21.6% 2.00% — Consumer Defensive
68 Revolve Group, Inc.RVLV 20,870 ₹15,224$1.61B 22.5 3.00 0.36× $32M 14.3% 0 — Consumer Cyclical
69 Intellia Therapeutics, Inc.NTLA 20,857 ₹14,760$1.56B Loss 2.15 0.15× $93M -55.4% 0 — Healthcare
70 CS Disco, Inc.LAW 20,856 ₹2,984$316.18M Loss 2.63 0.26× $7M -31.4% 0 — Technology
71 JAKKS Pacific, Inc.JAKK 20,852 ₹3,191$338.09M 21.0 1.36 0.45× $53M 6.7% 3.42% ⚑ Consumer Cyclical
72 Gyre Therapeutics, Inc.GYRE 20,847 ₹5,865$621.36M Loss 5.76 0.28× $1M -17.4% 0 — Healthcare
73 SoundHound AI, Inc.SOUN 20,842 ₹18,864$2.00B Loss 4.08 0.27× $4M -32.2% 0 — Technology
74 Marcus & Millichap, Inc.MMI 20,811 ₹10,109$1.07B 76.4 1.85 0.24× $78M 2.4% 1.78% — Real Estate
75 Monte Rosa Therapeutics, Inc.GLUE 20,810 ₹8,946$947.83M Loss 1.95 0.29× $39M -42.7% 0 — Healthcare
76 Everspin Technologies, Inc.MRAM 20,810 ₹2,852$302.18M Loss 4.13 0.18× $3M -3.8% 0 — Technology
77 Nautilus Biotechnology, Inc.NAUT 20,785 ₹3,123$330.86M Loss 2.52 0.20× $30M -36.2% 0 — Healthcare
78 EverQuote, Inc.EVER 20,781 ₹7,846$831.31M 7.7 3.24 0.25× $3M 53.6% 0 — Communication Services
79 Weis Markets, Inc.WMK 20,718 ₹18,753$1.99B 20.4 1.43 0.32× $172M 7.3% 1.79% ⚑ Consumer Defensive
80 NVE CorporationNVEC 20,685 ₹3,121$330.67M 18.5 5.53 0.04× $1M 29.8% 3.88% — Technology
81 Sprinklr, Inc.CXM 20,630 ₹14,661$1.55B 74.3 2.99 0.51× $47M 4.4% 0 — Technology
82 Park Aerospace Corp.PKE 20,627 ₹5,251$556.40M 36.0 4.25 0.09× $0M 11.1% 1.95% ⚑ Industrials
83 HealthStream, Inc.HSTM 20,622 ₹9,989$1.06B 48.0 2.97 0.32× $15M 6.0% 0.41% — Healthcare
84 Atea Pharmaceuticals, Inc.AVIR 20,596 ₹3,066$324.83M Loss 1.59 0.12× $1M -58.1% 0 — Healthcare
85 Design Therapeutics, Inc.DSGN 20,586 ₹6,196$656.48M Loss 3.25 0.06× $2M -34.1% 0 — Healthcare
86 Stitch Fix, Inc.SFIX 20,544 ₹3,430$363.40M Loss 1.80 0.60× $94M -6.3% 0 — Consumer Cyclical
87 Unusual Machines, Inc.UMAC 20,489 ₹7,672$812.79M Loss 2.09 0.02× $3M -2.9% 0 ⚑ Technology
88 Solid Biosciences Inc.SLDB 20,380 ₹6,264$663.72M Loss 1.77 0.11× $21M -65.5% 0 — Healthcare
89 Neurogene Inc.NGNE 20,337 ₹4,586$485.88M Loss 2.24 0.11× $11M -45.3% 0 — Healthcare
90 Bicara Therapeutics Inc.BCAX 20,310 ₹10,999$1.17B Loss 2.49 0.08× $2M -41.0% 0 — Healthcare
91 Faeth Therapeutics, Inc.FTH 20,308 ₹4,902$519.39M Loss 3.00 0.09× $2M -195.3% 0 — Healthcare
92 Immix Biopharma, Inc.IMMX 20,301 ₹6,534$692.24M Loss 3.02 0.04× $1M -34.2% 0 — Healthcare
93 Anterix Inc.ATEX 20,287 ₹13,541$1.43B 20.9 5.02 0.43× $4M 27.9% 0 — Communication Services
94 Global Industrial CompanyGIC 20,285 ₹16,154$1.71B 20.3 4.99 0.45× $104M 26.5% 2.45% — Industrials
95 Jade Biosciences, Inc.JBIO 20,281 ₹8,950$948.24M Loss 2.16 0.07× $1M — 0 — Healthcare
96 Barrett Business Services, Inc.BBSI 20,248 ₹7,505$795.16M 24.5 3.90 0.71× $24M 16.3% 1.01% — Industrials
97 NETGEAR, Inc.NTGR 20,193 ₹5,723$606.36M Loss 1.33 0.42× $51M -5.3% 0 — Technology
98 Ennis, Inc.EBF 20,192 ₹5,477$580.28M 15.0 1.87 0.15× $9M 12.6% 4.66% — Industrials
99 Omada Health, Inc.OMDA 20,182 ₹10,967$1.16B 79.1 4.60 0.23× None 1.8% 0 — Healthcare
100 Strata Critical Medical, Inc.SRTA 20,172 ₹3,933$416.68M Loss 1.49 0.16× $3M -9.2% 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 small cap companies in the US have no debt?

The first five on PositoAI's list are MapLight Therapeutics, Inc. (24,402), WEBTOON Entertainment Inc. (24,239), Haverty Furniture Companies, Inc. (24,163), WhiteFiber, Inc. (24,147), Assembly Biosciences, Inc. (23,850).

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

204 of the 1,114 small 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 small 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.