• Air Liquide average debt/equity ratio for 2023 was 0.35, a 18.6% decline from 2022.
• Air Liquide average debt/equity ratio for 2022 was 0.43, a 14% decline from 2021.
• Air Liquide average debt/equity ratio for 2021 was 0.5, a 18.03% 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.