• Netflix average debt/equity ratio for 2023 was 0.65, a 12.16% decline from 2022.
• Netflix average debt/equity ratio for 2022 was 0.74, a 28.16% decline from 2021.
• Netflix average debt/equity ratio for 2021 was 1.03, a 34.39% 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.