• First Solar average debt/equity ratio for 2023 was 0.07, a 75% decline from 2022.
• First Solar average debt/equity ratio for 2022 was 0.04, a 0% increase from 2021.
• First Solar average debt/equity ratio for 2021 was 0.04, a 33.33% 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.