Table Data - Nonfinancial Corporate Business; Debt as a Percentage of the Market Value of Corporate Equities, Level
| Title | Nonfinancial Corporate Business; Debt as a Percentage of the Market Value of Corporate Equities, Level |
|---|---|
| Series ID | NCBCMDPMVCE |
| Source | Board of Governors of the Federal Reserve System (US) |
| Release | Z.1 Financial Accounts of the United States |
| Seasonal Adjustment | Not Seasonally Adjusted |
| Frequency | Quarterly, End of Period |
| Units | Percent |
| Date Range | 1945-10-01 to 2025-10-01 |
| Last Updated | 2026-03-19 12:00 PM CDT |
| Notes | For more information about the Flow of Funds tables, see the Financial Accounts Guide. |
| DATE | VALUE |
|---|---|
| 1945-10-01 | 42.576231430805320 |
| 1946-01-01 | . |
| 1946-04-01 | . |
| 1946-07-01 | . |
| 1946-10-01 | 50.660452080667760 |
| 1947-01-01 | . |
| 1947-04-01 | . |
| 1947-07-01 | . |
| 1947-10-01 | 58.924172140759424 |
| 1948-01-01 | . |
| 1948-04-01 | . |
| 1948-07-01 | . |
| 1948-10-01 | 65.752195714300670 |
| 1949-01-01 | . |
| 1949-04-01 | . |
| 1949-07-01 | . |
| 1949-10-01 | 61.142032453166976 |
| 1950-01-01 | . |
| 1950-04-01 | . |
| 1950-07-01 | . |
| 1950-10-01 | 54.803818593469180 |
| 1951-01-01 | . |
| 1951-04-01 | . |
| 1951-07-01 | . |
| 1951-10-01 | 52.691025461153530 |
| 1952-01-01 | 51.946195524759695 |
| 1952-04-01 | 50.559043535413610 |
| 1952-07-01 | 51.873695723229320 |
| 1952-10-01 | 57.168586879849520 |
| 1953-01-01 | 59.516054682931200 |
| 1953-04-01 | 64.169690736795700 |
| 1953-07-01 | 67.100439799165970 |
| 1953-10-01 | 60.916759944306440 |
| 1954-01-01 | 56.799879050546790 |
| 1954-04-01 | 51.483133362648420 |
| 1954-07-01 | 46.844144366341920 |
| 1954-10-01 | 47.018976091239200 |
| 1955-01-01 | 45.757404134402240 |
| 1955-04-01 | 41.778786140079625 |
| 1955-07-01 | 39.728103738881170 |
| 1955-10-01 | 40.962799281239380 |
| 1956-01-01 | 39.052050705053546 |
| 1956-04-01 | 41.442710003362870 |
| 1956-07-01 | 43.115179789621930 |
| 1956-10-01 | 40.866599636860500 |
| 1957-01-01 | 44.145953616764840 |
| 1957-04-01 | 42.104385025189650 |
| 1957-07-01 | 47.389956078961350 |
| 1957-10-01 | 48.427150323963680 |
| 1958-01-01 | 46.218507074812460 |
| 1958-04-01 | 43.704527002832700 |
| 1958-07-01 | 39.566075578618950 |
| 1958-10-01 | 38.985663104276085 |
| 1959-01-01 | 38.385192158171160 |
| 1959-04-01 | 37.666596240378250 |
| 1959-07-01 | 38.660330924704160 |
| 1959-10-01 | 37.328793131236970 |
| 1960-01-01 | 40.415974831774890 |
| 1960-04-01 | 40.216203610219190 |
| 1960-07-01 | 43.619395645599496 |
| 1960-10-01 | 39.428030590248820 |
| 1961-01-01 | 35.108934537953990 |
| 1961-04-01 | 35.520720348052784 |
| 1961-07-01 | 34.673398659054420 |
| 1961-10-01 | 34.623643259978095 |
| 1962-01-01 | 35.580962694545100 |
| 1962-04-01 | 47.516901846887540 |
| 1962-07-01 | 45.388625334923240 |
| 1962-10-01 | 38.121432036118050 |
| 1963-01-01 | 36.403119344310110 |
| 1963-04-01 | 35.370363724262845 |
| 1963-07-01 | 34.257907690808070 |
| 1963-10-01 | 37.027802637200985 |
| 1964-01-01 | 35.159152440964420 |
| 1964-04-01 | 34.833724888154880 |
| 1964-07-01 | 34.077573141648540 |
| 1964-10-01 | 34.122866745469300 |
| 1965-01-01 | 34.045902765604440 |
| 1965-04-01 | 36.345333573362620 |
| 1965-07-01 | 33.919822727686660 |
| 1965-10-01 | 33.104071131915866 |
| 1966-01-01 | 34.933743047639915 |
| 1966-04-01 | 37.915916253939670 |
| 1966-07-01 | 42.876794496027365 |
| 1966-10-01 | 42.089937911543820 |
| 1967-01-01 | 37.808587456413970 |
| 1967-04-01 | 38.016129206720560 |
| 1967-07-01 | 36.454887558543480 |
| 1967-10-01 | 35.538274331046760 |
| 1968-01-01 | 39.851465768390380 |
| 1968-04-01 | 36.673834785261520 |
| 1968-07-01 | 37.566475883658190 |
| 1968-10-01 | 33.753757217270135 |
| 1969-01-01 | 36.299790666903650 |
| 1969-04-01 | 39.001777467243535 |
| 1969-07-01 | 41.408884427355694 |
| 1969-10-01 | 44.939300056406320 |
| 1970-01-01 | 49.521573098912120 |
| 1970-04-01 | 64.015786249384200 |
| 1970-07-01 | 55.704537174564926 |
| 1970-10-01 | 51.368776976394340 |
| 1971-01-01 | 47.484542264752790 |
| 1971-04-01 | 48.484602670444600 |
| 1971-07-01 | 50.185943690052525 |
| 1971-10-01 | 47.453668574831430 |
| 1972-01-01 | 45.964673296099534 |
| 1972-04-01 | 47.009602148238890 |
| 1972-07-01 | 46.724610746476280 |
| 1972-10-01 | 41.905280839270580 |
| 1973-01-01 | 45.934592633592960 |
| 1973-04-01 | 51.271724756002925 |
| 1973-07-01 | 50.371693023024520 |
| 1973-10-01 | 61.659932143283380 |
| 1974-01-01 | 65.236315569010970 |
| 1974-04-01 | 73.379403753581160 |
| 1974-07-01 | 99.215525222722960 |
| 1974-10-01 | 98.647520812607980 |
| 1975-01-01 | 81.147203237012050 |
| 1975-04-01 | 70.902992891048070 |
| 1975-07-01 | 79.866154523467200 |
| 1975-10-01 | 75.131905698922080 |
| 1976-01-01 | 65.750943975198870 |
| 1976-04-01 | 65.737926972259700 |
| 1976-07-01 | 65.897802257730280 |
| 1976-10-01 | 64.504997706806050 |
| 1977-01-01 | 71.306313932901500 |
| 1977-04-01 | 71.354649198338920 |
| 1977-07-01 | 75.817570603264780 |
| 1977-10-01 | 80.848968749345220 |
| 1978-01-01 | 87.540657042352050 |
| 1978-04-01 | 84.169891665172640 |
| 1978-07-01 | 79.619072841483690 |
| 1978-10-01 | 84.921986551231780 |
| 1979-01-01 | 82.432162078976490 |
| 1979-04-01 | 84.046876203089160 |
| 1979-07-01 | 80.869717110323390 |
| 1979-10-01 | 79.322258291668940 |
| 1980-01-01 | 85.977285961040680 |
| 1980-04-01 | 77.192571941959230 |
| 1980-07-01 | 69.675951462738540 |
| 1980-10-01 | 64.300023485286150 |
| 1981-01-01 | 65.195736325230040 |
| 1981-04-01 | 69.520489405089110 |
| 1981-07-01 | 82.449401803911000 |
| 1981-10-01 | 77.699036230311180 |
| 1982-01-01 | 92.239426894379430 |
| 1982-04-01 | 96.135668140088410 |
| 1982-07-01 | 90.019007796241550 |
| 1982-10-01 | 76.919812089284760 |
| 1983-01-01 | 71.786974605643890 |
| 1983-04-01 | 65.062732600407500 |
| 1983-07-01 | 67.330742911778360 |
| 1983-10-01 | 72.122524445470020 |
| 1984-01-01 | 79.314261957724340 |
| 1984-04-01 | 86.584596378985250 |
| 1984-07-01 | 84.282721557689470 |
| 1984-10-01 | 87.838249164151660 |
| 1985-01-01 | 83.469172714387010 |
| 1985-04-01 | 82.313526970330440 |
| 1985-07-01 | 88.719906670908900 |
| 1985-10-01 | 79.651662451890790 |
| 1986-01-01 | 73.612184315019000 |
| 1986-04-01 | 72.629419215515280 |
| 1986-07-01 | 81.556374085399650 |
| 1986-10-01 | 76.947674227724730 |
| 1987-01-01 | 65.946459543849530 |
| 1987-04-01 | 65.738482341855120 |
| 1987-07-01 | 63.471954451963065 |
| 1987-10-01 | 82.128625687869700 |
| 1988-01-01 | 79.625461671873720 |
| 1988-04-01 | 78.522582176840880 |
| 1988-07-01 | 80.936298391342560 |
| 1988-10-01 | 79.824691614536990 |
| 1989-01-01 | 78.771216092123510 |
| 1989-04-01 | 76.370063251777540 |
| 1989-07-01 | 71.699436621544140 |
| 1989-10-01 | 69.794979444235110 |
| 1990-01-01 | 73.910582228516290 |
| 1990-04-01 | 72.146234555987250 |
| 1990-07-01 | 83.515708829498180 |
| 1990-10-01 | 76.967119517048570 |
| 1991-01-01 | 67.763706774829270 |
| 1991-04-01 | 68.689974588771180 |
| 1991-07-01 | 64.998735893030680 |
| 1991-10-01 | 56.422925075658870 |
| 1992-01-01 | 57.836829063997200 |
| 1992-04-01 | 58.324454254759690 |
| 1992-07-01 | 56.990480284284670 |
| 1992-10-01 | 52.232316260105190 |
| 1993-01-01 | 51.755332330242254 |
| 1993-04-01 | 52.348452055268890 |
| 1993-07-01 | 51.640877350852950 |
| 1993-10-01 | 50.069321960666670 |
| 1994-01-01 | 53.388621893080240 |
| 1994-04-01 | 55.167847631945590 |
| 1994-07-01 | 52.977345261348450 |
| 1994-10-01 | 53.912863483572870 |
| 1995-01-01 | 51.522914185889350 |
| 1995-04-01 | 48.969873130460540 |
| 1995-07-01 | 46.020706204535520 |
| 1995-10-01 | 43.265677084244340 |
| 1996-01-01 | 42.222152514277326 |
| 1996-04-01 | 41.218791883996800 |
| 1996-07-01 | 41.230543083589374 |
| 1996-10-01 | 39.369724738707525 |
| 1997-01-01 | 39.980892797373210 |
| 1997-04-01 | 35.955557270712810 |
| 1997-07-01 | 34.307099835747060 |
| 1997-10-01 | 33.845444116428960 |
| 1998-01-01 | 31.057238452588040 |
| 1998-04-01 | 31.640746579870825 |
| 1998-07-01 | 35.407270608090954 |
| 1998-10-01 | 30.006037906642803 |
| 1999-01-01 | 30.419685247086456 |
| 1999-04-01 | 28.620416887092563 |
| 1999-07-01 | 30.563281067583280 |
| 1999-10-01 | 25.623515571292295 |
| 2000-01-01 | 25.085170948442330 |
| 2000-04-01 | 26.570050365031246 |
| 2000-07-01 | 27.335519967143880 |
| 2000-10-01 | 31.331527348534628 |
| 2001-01-01 | 34.961808082179370 |
| 2001-04-01 | 33.449210630076920 |
| 2001-07-01 | 38.952503220129990 |
| 2001-10-01 | 36.102192723053520 |
| 2002-01-01 | 35.958375985083870 |
| 2002-04-01 | 40.527911441724270 |
| 2002-07-01 | 47.073046731011330 |
| 2002-10-01 | 46.745012794172940 |
| 2003-01-01 | 47.643295391178240 |
| 2003-04-01 | 42.336559576305590 |
| 2003-07-01 | 41.098935487407545 |
| 2003-10-01 | 36.627992063344460 |
| 2004-01-01 | 36.004986537424430 |
| 2004-04-01 | 35.416492418022440 |
| 2004-07-01 | 36.425360050729520 |
| 2004-10-01 | 33.933595255379160 |
| 2005-01-01 | 34.326873608139046 |
| 2005-04-01 | 34.274392853129946 |
| 2005-07-01 | 33.448654857712050 |
| 2005-10-01 | 34.040396984148380 |
| 2006-01-01 | 32.398524520880280 |
| 2006-04-01 | 34.154077827083850 |
| 2006-07-01 | 33.427441088863745 |
| 2006-10-01 | 32.387502539192590 |
| 2007-01-01 | 31.750763605317584 |
| 2007-04-01 | 31.358376732226400 |
| 2007-07-01 | 31.902009582325340 |
| 2007-10-01 | 33.987803447667420 |
| 2008-01-01 | 37.479583213809240 |
| 2008-04-01 | 38.610167393013060 |
| 2008-07-01 | 43.286402251277170 |
| 2008-10-01 | 54.145541455430205 |
| 2009-01-01 | 59.776172148913470 |
| 2009-04-01 | 52.002564974124920 |
| 2009-07-01 | 44.319785988436760 |
| 2009-10-01 | 41.011728154592360 |
| 2010-01-01 | 39.200779169984760 |
| 2010-04-01 | 43.339090969404960 |
| 2010-07-01 | 39.278605136208704 |
| 2010-10-01 | 35.442795137460490 |
| 2011-01-01 | 33.547334640046990 |
| 2011-04-01 | 34.108665591935804 |
| 2011-07-01 | 40.310465938123330 |
| 2011-10-01 | 37.268494342617030 |
| 2012-01-01 | 34.266723259753704 |
| 2012-04-01 | 35.622197515594614 |
| 2012-07-01 | 34.104533183329536 |
| 2012-10-01 | 35.137012522680670 |
| 2013-01-01 | 31.559594753510297 |
| 2013-04-01 | 31.619471137985396 |
| 2013-07-01 | 30.627931794283576 |
| 2013-10-01 | 28.743027163423022 |
| 2014-01-01 | 28.532515711682592 |
| 2014-04-01 | 27.660928025406520 |
| 2014-07-01 | 28.252188568166790 |
| 2014-10-01 | 27.653215156130360 |
| 2015-01-01 | 27.935774773169760 |
| 2015-04-01 | 28.992089667758307 |
| 2015-07-01 | 31.682977184879626 |
| 2015-10-01 | 30.518010407703880 |
| 2016-01-01 | 30.672725145120320 |
| 2016-04-01 | 30.171253023797444 |
| 2016-07-01 | 29.556410622572120 |
| 2016-10-01 | 29.251005252922774 |
| 2017-01-01 | 28.211849272777872 |
| 2017-04-01 | 28.091466080372033 |
| 2017-07-01 | 27.423354216161798 |
| 2017-10-01 | 26.477884437704210 |
| 2018-01-01 | 27.049135738334110 |
| 2018-04-01 | 27.141212194644933 |
| 2018-07-01 | 25.822028409424600 |
| 2018-10-01 | 30.485552218624484 |
| 2019-01-01 | 27.387811934705740 |
| 2019-04-01 | 27.005537220853100 |
| 2019-07-01 | 27.261841154377110 |
| 2019-10-01 | 25.573163358814348 |
| 2020-01-01 | 34.402499369264250 |
| 2020-04-01 | 29.129103197270940 |
| 2020-07-01 | 26.151977070558903 |
| 2020-10-01 | 22.781853809536790 |
| 2021-01-01 | 21.715598187240225 |
| 2021-04-01 | 20.387828419315536 |
| 2021-07-01 | 20.558652906384400 |
| 2021-10-01 | 19.364011109546677 |
| 2022-01-01 | 20.921980154584407 |
| 2022-04-01 | 25.544062358884240 |
| 2022-07-01 | 26.886018794670434 |
| 2022-10-01 | 25.674658143244137 |
| 2023-01-01 | 24.132459155341188 |
| 2023-04-01 | 22.387338313156850 |
| 2023-07-01 | 23.341154887884960 |
| 2023-10-01 | 21.176509750547815 |
| 2024-01-01 | 19.578921996753470 |
| 2024-04-01 | 19.201091057404824 |
| 2024-07-01 | 18.375049212707220 |
| 2024-10-01 | 17.858877491960450 |
| 2025-01-01 | 19.198026842455240 |
| 2025-04-01 | 17.429533520159787 |
| 2025-07-01 | 16.139849060838380 |
| 2025-10-01 | 15.846345149059620 |