• Cencora average debt/equity ratio for 2023 was 5.96, a 83.24% decline from 2022.
• Cencora average debt/equity ratio for 2022 was 35.56, a 275.5% decline from 2021.
• Cencora average debt/equity ratio for 2021 was 9.47, a 1914.89% 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.