• National Australia Bank average debt/equity ratio for 2023 was 2.3, a 14.43% increase from 2022.
• National Australia Bank average debt/equity ratio for 2022 was 2.01, a 6.35% increase from 2021.
• National Australia Bank average debt/equity ratio for 2021 was 1.89, a 21.58% 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.