• Howmet Aerospace average debt/equity ratio for 2023 was 0.99, a 18.85% decline from 2022.
• Howmet Aerospace average debt/equity ratio for 2022 was 1.22, a 3.39% decline from 2021.
• Howmet Aerospace average debt/equity ratio for 2021 was 1.18, a 9.23% 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.