• Blackstone average debt/equity ratio for 2023 was 0.7, a 34.62% decline from 2022.
• Blackstone average debt/equity ratio for 2022 was 0.52, a 52.94% increase from 2021.
• Blackstone average debt/equity ratio for 2021 was 0.34, a 47.69% 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.