• Allstate average debt/equity ratio for 2023 was 0.5, a 21.95% decline from 2022.
• Allstate average debt/equity ratio for 2022 was 0.41, a 36.67% increase from 2021.
• Allstate average debt/equity ratio for 2021 was 0.3, a 15.38% 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.