• Croda average debt/equity ratio for 2023 was 0.26, a 52.94% decline from 2022.
• Croda average debt/equity ratio for 2022 was 0.17, a 64.58% increase from 2021.
• Croda average debt/equity ratio for 2021 was 0.48, a 9.43% 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.