• Ball average debt/equity ratio for 2023 was 1.93, a 14.98% decline from 2022.
• Ball average debt/equity ratio for 2022 was 2.27, a 13.5% decline from 2021.
• Ball average debt/equity ratio for 2021 was 2, a 21.88% 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.