• Marathon Oil average debt/equity ratio for 2023 was 0.44, a 18.92% decline from 2022.
• Marathon Oil average debt/equity ratio for 2022 was 0.37, a 11.9% increase from 2021.
• Marathon Oil average debt/equity ratio for 2021 was 0.42, a 14.29% 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.