• NOV average debt/equity ratio for 2023 was 0.3, a 11.76% decline from 2022.
• NOV average debt/equity ratio for 2022 was 0.34, a 3.03% decline from 2021.
• NOV average debt/equity ratio for 2021 was 0.33, a 5.71% 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.