• Nasdaq average debt/equity ratio for 2023 was 1.2, a 51.9% decline from 2022.
• Nasdaq average debt/equity ratio for 2022 was 0.79, a 3.66% increase from 2021.
• Nasdaq average debt/equity ratio for 2021 was 0.82, a 26.15% 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.