• NIKE average debt/equity ratio for 2023 was 0.63, a 6.78% decline from 2022.
• NIKE average debt/equity ratio for 2022 was 0.59, a 16.9% increase from 2021.
• NIKE average debt/equity ratio for 2021 was 0.71, a 17.44% 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.