• Labcorp average debt/equity ratio for 2023 was 0.54, a 3.85% increase from 2022.
• Labcorp average debt/equity ratio for 2022 was 0.52, a 1.89% increase from 2021.
• Labcorp average debt/equity ratio for 2021 was 0.53, a 25.35% 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.