• Bunzl average debt/equity ratio for 2023 was 0.51, a 8.93% decline from 2022.
• Bunzl average debt/equity ratio for 2022 was 0.56, a 21.13% decline from 2021.
• Bunzl average debt/equity ratio for 2021 was 0.71, a 8.97% 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.