• Open Text average debt/equity ratio for 2023 was 2.11, a 90.09% decline from 2022.
• Open Text average debt/equity ratio for 2022 was 1.11, a 21.98% increase from 2021.
• Open Text average debt/equity ratio for 2021 was 0.91, a 2.25% 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.