• American Express average debt/equity ratio for 2023 was 1.69, a 2.87% increase from 2022.
• American Express average debt/equity ratio for 2022 was 1.74, a 10.13% decline from 2021.
• American Express average debt/equity ratio for 2021 was 1.58, a 27.85% 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.