• Kellanova average debt/equity ratio for 2023 was 1.32, a 3.94% increase from 2022.
• Kellanova average debt/equity ratio for 2022 was 1.27, a 26.16% increase from 2021.
• Kellanova average debt/equity ratio for 2021 was 1.72, a 14.85% 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.