• Gartner average debt/equity ratio for 2023 was 4.32, a 45.25% decline from 2022.
• Gartner average debt/equity ratio for 2022 was 7.89, a 51.73% decline from 2021.
• Gartner average debt/equity ratio for 2021 was 5.2, a 162.63% 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.