• BP average debt/equity ratio for 2023 was 0.54, a 10% increase from 2022.
• BP average debt/equity ratio for 2022 was 0.6, a 7.69% decline from 2021.
• BP average debt/equity ratio for 2021 was 0.65, a 10.96% 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.