• American average debt/equity ratio for 2023 was 0.11, a 82.54% increase from 2022.
• American average debt/equity ratio for 2022 was 0.63, a 26% decline from 2021.
• American average debt/equity ratio for 2021 was 0.5, a 15.25% 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.