• Baker Hughes average debt/equity ratio for 2023 was 0.39, a 9.3% decline from 2022.
• Baker Hughes average debt/equity ratio for 2022 was 0.43, a 10.26% decline from 2021.
• Baker Hughes average debt/equity ratio for 2021 was 0.39, a 2.63% 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.