• Ameren average debt/equity ratio for 2023 was 1.3, a 0.78% increase from 2022.
• Ameren average debt/equity ratio for 2022 was 1.29, a 0.78% increase from 2021.
• Ameren average debt/equity ratio for 2021 was 1.28, a 7.56% 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.