• Pegasystems average debt/equity ratio for 2023 was 2.87, a 41.19% decline from 2022.
• Pegasystems average debt/equity ratio for 2022 was 4.88, a 284.25% decline from 2021.
• Pegasystems average debt/equity ratio for 2021 was 1.27, a 35.11% 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.