• Johnson & Johnson average debt/equity ratio for 2023 was 0.42, a 13.51% increase from 2022.
• Johnson & Johnson average debt/equity ratio for 2022 was 0.37, a 15.91% increase from 2021.
• Johnson & Johnson average debt/equity ratio for 2021 was 0.44, a 4.35% 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.