• KeyCorp average debt/equity ratio for 2023 was 1.53, a 30.77% decline from 2022.
• KeyCorp average debt/equity ratio for 2022 was 1.17, a 62.5% increase from 2021.
• KeyCorp average debt/equity ratio for 2021 was 0.72, a 5.26% 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.