S&P 500 Year-over-Year Total Debt Growth

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Source: Company filings (aggregated)

Data updated daily

What it measures

The S&P 500 total debt growth rate measures the year-over-year percentage change in aggregate total interest-bearing debt for index constituents. A reading of +4% means the aggregate debt load of S&P 500 companies expanded 4% versus the equivalent period one year earlier.

Why it matters

Debt growth relative to EBITDA and cash flow growth determines whether leverage is rising or falling — the critical question for credit quality and equity risk. Debt growing faster than earnings increases interest burden and reduces the cushion against an earnings downturn. At the index level, debt growth tends to accelerate in low-rate environments and decelerate when credit conditions tighten. Comparing debt growth against EBITDA growth gives the trend in leverage: if debt grows 6% and EBITDA grows 3%, net debt/EBITDA is rising.

How it is calculated

Debt Growth (YoY) = (Σ Total Debt_t − Σ Total Debt_t−4Q) ÷ Σ Total Debt_t−4Q × 100

LENSE computes the S&P 500 total debt growth rate as the year-over-year change in aggregate total interest-bearing debt — the sum across current index constituents — not an average of individual company rates. Total debt per constituent is sourced from as-reported quarter-end balance sheets. The prior-year comparison uses the balance sheet from four quarters earlier. Periods where the prior-period aggregate total debt is zero are excluded. Index constituency is resolved point-in-time using point-in-time index constituency.

Recent (monthly)

Recent data unavailable.

Data source: Company filings (aggregated). Computed and published by LENSE Analytics.