• American Tower average debt/equity ratio for 2023 was 3.06, a 7.27% increase from 2022.
• American Tower average debt/equity ratio for 2022 was 3.3, a 30.08% decline from 2021.
• American Tower average debt/equity ratio for 2021 was 4.72, a 17.05% 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.