• Jack Henry & Associates average debt/equity ratio for 2023 was 0.18, a 20% decline from 2022.
• Jack Henry & Associates average debt/equity ratio for 2022 was 0.15, a 25% increase from 2021.
• Jack Henry & Associates average debt/equity ratio for 2021 was 0.12, a 1100% 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.