• Cisco average debt/equity ratio for 2023 was 0.16, a 23.81% increase from 2022.
• Cisco average debt/equity ratio for 2022 was 0.21, a 8.7% decline from 2021.
• Cisco average debt/equity ratio for 2021 was 0.23, a 28.13% 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.