• Eaton average debt/equity ratio for 2023 was 0.47, a 4.44% decline from 2022.
• Eaton average debt/equity ratio for 2022 was 0.45, a 13.46% increase from 2021.
• Eaton average debt/equity ratio for 2021 was 0.52, a 4% 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.