The top five U.S. non-financial companies are Apple, Microsoft, Google, Cisco Systems and Oracle, according to a new report by Moody’s Investors Service. Apple held $215.7 billion in total cash for the period. The company has held the top spot as cash king since 2009, according to Moody’s.
The five company’s held $1.68 trillion in cash at the end of 2015, up 1.8% from $1.65 trillion the year prior, adds the provider of credit ratings, research, and risk analysis.The top 50 holders of cash account for $1.14 trillion of the total cash pile, and entry to the top 50 list now requires $6.12 billion in cash.
Moody’s expects the technology sector cash concentration will grind higher over the next year because of the sector’s strong cash flow generation and despite stronger returns of capital to shareholders. The technology sector generated 63% of the total rated non-financial free cash flow in 2015, up from 37% in 2007.
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