• ConocoPhillips average debt/equity ratio for 2023 was 0.35, a 2.94% decline from 2022.
• ConocoPhillips average debt/equity ratio for 2022 was 0.34, a 20.93% increase from 2021.
• ConocoPhillips average debt/equity ratio for 2021 was 0.43, a 10.42% 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.