• Experian average debt/equity ratio for 2023 was 0.97, a 10.19% decline from 2022.
• Experian average debt/equity ratio for 2022 was 1.08, a 12.2% decline from 2021.
• Experian average debt/equity ratio for 2021 was 1.23, a 28.07% 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.