Compiled 2026-09-26Data through 2025-07-312 min read
Dated source-based research · No live market data

Observation

Across 15 eligible technology companies, the equal-weight median liabilities as a share of assets was 52.40% for the prior selected annual periods.

Data context

The eligible sample covers 15 of 18 selected companies. The prior selected annual periods span 2024-01-31 to 2025-07-31. Companies have different fiscal year ends. This is a cross-sectional research sample, not a calendar-year index or a representation of the full sector.

Company evidence

NVDA 28.92% (period 2025-01-26); AAPL 84.40% (period 2024-09-28); MSFT 44.51% (period 2025-06-30); AVGO 59.14% (period 2024-11-03); MU 34.98% (period 2024-08-29); CSCO 61.70% (period 2025-07-26); PLTR 19.66% (period 2024-12-31); DELL 101.74% (period 2025-01-31); AMAT 44.78% (period 2024-10-27); PANW 66.81% (period 2025-07-31); CRWD 61.86% (period 2025-01-31); ANET 28.83% (period 2024-12-31); TXN 52.40% (period 2024-12-31); IBM 80.03% (period 2024-12-31); CRM 40.25% (period 2024-01-31).

Distribution

The sample range is 19.66% (PLTR) to 101.74% (DELL). The median is computed across company ratios with equal weight; it is not a ratio of aggregate totals. Extreme values can reflect a small denominator or unusual accounting items.

Interpretation

Product cycles, recurring software revenue and infrastructure investment shape this broad group. Hardware and software businesses have different cost structures. The numerator is totalLiabilities; the denominator is total assets. Only positive denominators and disclosed numerators qualify. No missing value is replaced with zero.

What to watch

Revenue mix, research spending, inventory and cash conversion.

Research limitations

Customer concentration, product transitions, export restrictions and the durability of capital spending. The sample uses a September 18, 2026 source snapshot. It does not establish current market conditions, causal drivers or future returns. Sector labels are editorial and the financial-sector cash-flow measures need particular caution.

Company-level observations · percent
CompanyValuePeriod end
NVDA28.92%2025-01-26
AAPL84.40%2024-09-28
MSFT44.51%2025-06-30
AVGO59.14%2024-11-03
MU34.98%2024-08-29
CSCO61.70%2025-07-26
PLTR19.66%2024-12-31
DELL101.74%2025-01-31
AMAT44.78%2024-10-27
PANW66.81%2025-07-31
CRWD61.86%2025-01-31
ANET28.83%2024-12-31
TXN52.40%2024-12-31
IBM80.03%2024-12-31
CRM40.25%2024-01-31

Sources & dates