• Bilibili average debt/equity ratio for 2023 was 0.18, a 76.62% decline from 2022.
• Bilibili average debt/equity ratio for 2022 was 0.77, a 67.39% decline from 2021.
• Bilibili average debt/equity ratio for 2021 was 0.46, a 47.73% 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.