• Devon Energy average debt/equity ratio for 2023 was 0.51, a 16.39% increase from 2022.
• Devon Energy average debt/equity ratio for 2022 was 0.61, a 18.67% decline from 2021.
• Devon Energy average debt/equity ratio for 2021 was 0.75, a 41.41% 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.