• BorgWarner average debt/equity ratio for 2023 was 0.58, a 1.75% increase from 2022.
• BorgWarner average debt/equity ratio for 2022 was 0.57, a 5% increase from 2021.
• BorgWarner average debt/equity ratio for 2021 was 0.6, a 17.65% 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.