• Graphic Packaging Holding average debt/equity ratio for 2023 was 2, a 26.47% decline from 2022.
• Graphic Packaging Holding average debt/equity ratio for 2022 was 2.72, a 15.74% decline from 2021.
• Graphic Packaging Holding average debt/equity ratio for 2021 was 2.35, a 41.57% 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.