• Lithia Motors average debt/equity ratio for 2023 was 1.12, a 17.89% increase from 2022.
• Lithia Motors average debt/equity ratio for 2022 was 0.95, a 43.94% increase from 2021.
• Lithia Motors average debt/equity ratio for 2021 was 0.66, a 29.79% 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.