• GATX average debt/equity ratio for 2023 was 3.14, a 0.32% increase from 2022.
• GATX average debt/equity ratio for 2022 was 3.13, a 2.29% increase from 2021.
• GATX average debt/equity ratio for 2021 was 3.06, a 10.87% 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.