Would this rule have fired?

SEC EDGAR XBRL companyfacts

Debt to Equity stays at or below 0.00

Coverage

Debt to Equity can be measured in 19 of the 30 filed fiscal years we test against, FY1996 to FY2026. The other 11 carry no value and count in neither total: they are shown blank, never as zero.

Future filings can only add years, never fill in the old blank ones.

This page prints only figures that resolve to a document on sec.gov. 30 further fiscal years are held for this company from a commercial data feed, and are left out here rather than shown without a filing you can open.

Result

This rule would have fired 10 times: FY2017, FY2018, FY2019, FY2020, FY2021, FY2022, FY2023, FY2024, FY2025, FY2026.

Debt to Equity stays at or below 0.00, tested year by year against filed accounts
FY	Value	Status	Filed	Document
2017	1.07	Fired	2017-08-02	10-K on sec.gov
2018	1.04	Fired	2018-08-03	10-K on sec.gov
2019	0.83	Fired	2019-08-01	10-K on sec.gov
2020	0.68	Fired	2020-07-30	10-K on sec.gov
2021	0.57	Fired	2021-07-29	10-K on sec.gov
2022	0.46	Fired	2022-07-28	10-K on sec.gov
2023	0.37	Fired	2023-07-27	10-K on sec.gov
2024	0.35	Fired	2024-07-30	10-K on sec.gov
2025	0.31	Fired	2025-07-30	10-K on sec.gov
2026	0.28	Fired	2026-07-29	10-K on sec.gov
10 years tested		10 fired 0 held

Filed figures from SEC EDGAR. This is a computation on public filings, not a recommendation, and not advice. Past filings do not indicate future results.

Filed figures from SEC EDGAR. This is a computation on public filings, not a recommendation, and not advice. Past filings do not indicate future results. See the risk disclaimer.

What this is not

It is not a backtest. It does not model what a portfolio would have returned, it compounds nothing, and it does not know what the share price did. It answers one question: on the accounts this company filed, in which years was that condition false? Every entry above is a fiscal year, a filed figure and the filing it came from.

Doing this once is arithmetic on public documents. Doing it every night, against the newest filed accounts, and writing to you the day a condition you wrote down stops being true, is the subscription. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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Test another rule

Name a US-listed company and one numeric condition you would want to hold. We run it against every annual account that company has filed with the SEC and show you each fiscal year in which it was false, with the figure and the filing it came from.

The condition is yours. We do not propose one, and nothing below is a view on any company.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.