Best Debt-Free Stocks in February 2026: LIC, HDFC AMC, SBI Life, ICICI Lombard, and More Based on Market Capitalisation

February 2026 highlights several companies operating with zero debt, and with lower balance sheet risk.

Debt-free companies generally benefit from stronger cash flows, reduced interest obligations, and greater resilience during economic uncertainty. 

Insurance and asset management firms dominate the list, reflecting capital light business models and consistent profitability.

Here’s a look at the best debt-free stocks this month.

Top 10 Debt-Free Stocks in February 2026 Based on Market Capitalisation

Note: The data above is as of February 17, 2026 and is ranked based on market capitalisation.

Overview of Top Debt-Free Stocks for February 2026

1. Life Insurance Corporation Of India (LIC)

LIC remains India’s largest insurance company with a dominant market presence and strong policyholder base.

Key Metrics:

• 1Y Return: 13.59%
• PE Ratio: 11.38

2. SBI Life Insurance Company Ltd

SBI Life benefits from strong bancassurance distribution through State Bank of India’s network. The company has demonstrated steady growth in premium collections and profitability.

Key Metrics:

• 1Y Return: 38.36%
• PE Ratio: 84.87

3. ICICI Prudential Asset Management Company Ltd

ICICI Prudential AMC operates a diversified asset management platform supported by consistent inflows across equity and debt products, contributing to stable earnings generation.

Key Metrics:

• 1Y Return: 17.79%
• PE Ratio: 56.80

4. HDFC Asset Management Company Ltd

HDFC AMC  is recognized for its large AUM base of ₹9.21 trillion in AUM as of December 31, 2025.

Key Metrics:

• 1Y Return: 52.37%
• PE Ratio: 49.48

5. ICICI Lombard General Insurance Company Ltd

ICICI Lombard is a leading private sector general insurer with diversified product offerings across motor, health, and corporate insurance segments.

Key Metrics:

• 1Y Return: 11.42%
• PE Ratio: 38.17

Debt Free Stocks in Feb 2026, Sorted by Dividend Yield

The table below lists debt-free companies arranged in descending order of dividend yield.

Note: Data is as of February 17, 2026 and sorted by dividend yield.

Debt-Free Stocks Ranked by Net Profit Margin

The following table presents companies sorted in descending order of net profit margin.

Note: Data is as of February 17, 2026 and ranked by net profit margin.

Read More: Best Artificial Intelligence Stocks for February 2026: Persistent Systems, Saksoft and More Based on 5 Year CAGR.

Conclusion

Debt-free companies such as LIC, HDFC Asset Management, ICICI Prudential AMC, and SBI Life Insurance demonstrate strong balance sheet quality and operational stability. With zero leverage and consistent profitability, these businesses may appeal to investors seeking financially resilient companies with long-term growth potential.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.