• Energy Transfer LP average debt/equity ratio for 2023 was 1.15, a 3.36% increase from 2022.
• Energy Transfer LP average debt/equity ratio for 2022 was 1.19, a 8.46% decline from 2021.
• Energy Transfer LP average debt/equity ratio for 2021 was 1.3, a 18.75% 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.