• 3M average debt/equity ratio for 2023 was 1.98, a 102.04% increase from 2022.
• 3M average debt/equity ratio for 2022 was 0.98, a 13.27% increase from 2021.
• 3M average debt/equity ratio for 2021 was 1.13, a 31.52% 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.