• ONEOK average debt/equity ratio for 2023 was 1.54, a 23.76% increase from 2022.
• ONEOK average debt/equity ratio for 2022 was 2.02, a 10.22% decline from 2021.
• ONEOK average debt/equity ratio for 2021 was 2.25, a 5.46% 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.