• Apple average debt/equity ratio for 2023 was 1.5, a 12.79% increase from 2022.
• Apple average debt/equity ratio for 2022 was 1.72, a 6.83% decline from 2021.
• Apple average debt/equity ratio for 2021 was 1.61, a 18.38% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.