• EMCOR average debt/equity ratio for 2023 was 0.08, a 46.67% decline from 2022.
• EMCOR average debt/equity ratio for 2022 was 0.15, a 25% decline from 2021.
• EMCOR average debt/equity ratio for 2021 was 0.12, a 29.41% 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.