• Deere average debt/equity ratio for 2023 was 1.66, a 4.05% increase from 2022.
• Deere average debt/equity ratio for 2022 was 1.73, a 17.22% decline from 2021.
• Deere average debt/equity ratio for 2021 was 2.09, a 21.13% 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.