• Nutrien average debt/equity ratio for 2023 was 0.37, a 27.59% increase from 2022.
• Nutrien average debt/equity ratio for 2022 was 0.29, a 29.27% increase from 2021.
• Nutrien average debt/equity ratio for 2021 was 0.41, a 6.82% 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.