• American Financial average debt/equity ratio for 2023 was 0.37, a 5.13% decline from 2022.
• American Financial average debt/equity ratio for 2022 was 0.39, a 52.44% decline from 2021.
• American Financial average debt/equity ratio for 2021 was 0.82, a 164.52% decline 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.