• Hexcel average debt/equity ratio for 2023 was 0.45, a 16.67% increase from 2022.
• Hexcel average debt/equity ratio for 2022 was 0.54, a 8.47% decline from 2021.
• Hexcel average debt/equity ratio for 2021 was 0.59, a 25.32% 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.