• Gap average debt/equity ratio for 2023 was 0.75, a 7.14% decline from 2022.
• Gap average debt/equity ratio for 2022 was 0.7, a 4.11% increase from 2021.
• Gap average debt/equity ratio for 2021 was 0.73, a 2.82% 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.