• Fortescue average debt/equity ratio for 2023 was 0.28, a 17.65% decline from 2022.
• Fortescue average debt/equity ratio for 2022 was 0.34, a 30.77% decline from 2021.
• Fortescue average debt/equity ratio for 2021 was 0.26, a 18.75% 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.