• FirstCash Holdings average debt/equity ratio for 2023 was 0.77, a 5.48% increase from 2022.
• FirstCash Holdings average debt/equity ratio for 2022 was 0.73, a 30.36% increase from 2021.
• FirstCash Holdings average debt/equity ratio for 2021 was 0.56, a 21.74% increase 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.