• Illumina average debt/equity ratio for 2023 was 0.24, a 100% increase from 2022.
• Illumina average debt/equity ratio for 2022 was 0.12, a 52% increase from 2021.
• Illumina average debt/equity ratio for 2021 was 0.25, a 78.57% 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.