• Coherent average debt/equity ratio for 2023 was 0.82, a 30.16% decline from 2022.
• Coherent average debt/equity ratio for 2022 was 0.63, a 85.29% increase from 2021.
• Coherent average debt/equity ratio for 2021 was 0.34, a 55.84% 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.