• Equinor average debt/equity ratio for 2023 was 0.49, a 16.95% increase from 2022.
• Equinor average debt/equity ratio for 2022 was 0.59, a 28.05% decline from 2021.
• Equinor average debt/equity ratio for 2021 was 0.82, a 3.53% 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.