• Equity Residential average debt/equity ratio for 2023 was 0.65, a 7.14% increase from 2022.
• Equity Residential average debt/equity ratio for 2022 was 0.7, a 7.89% decline from 2021.
• Equity Residential average debt/equity ratio for 2021 was 0.76, a 2.56% 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.