• Bae Systems average debt/equity ratio for 2023 was 0.44, a 2.22% increase from 2022.
• Bae Systems average debt/equity ratio for 2022 was 0.45, a 27.42% decline from 2021.
• Bae Systems average debt/equity ratio for 2021 was 0.62, a 35.42% 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.