Treasury Insights

The Name Is Cash, Just Cash

Non-financial firms in the S&P 500 hold $2.1 trillion of “cash” in aggregate. To put $2.1 trillion in perspective, that’s higher than the annual GDP of all but eight countries in the world.
J.P. Morgan Corporate Finance Advisory icon
December 3, 2015

J.P. Morgan’s Corporate Finance Advisory team, in its latest report, "The Name Is Cash, Just Cash: Demystifying the 'Spectre' of Record High Corporate Cash," highlights that the record cash pile has led to a number of popular claims about cash, only some of which can be confirmed (but in many cases, with important nuances). Examples of such claims include:

Having a record high cash balance is undoubtedly a high-class issue. But it’s critical to balance the desire to hold on to a lot of cash for downside protection and/or to avoid repatriation taxes with investor desire for growth and shareholder distributions.

Download the report

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