• Axa Sa average debt/equity ratio for 2022 was 0.26, a 73.33% decline from 2021.
• Axa Sa average debt/equity ratio for 2021 was 0.15, a 0% increase from 2020.
• Axa Sa average debt/equity ratio for 2020 was 0.15, a 16.67% decline from 2019.

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.