• Piper Sandler average debt/equity ratio for 2023 was 0.08, a 27.27% decline from 2022.
• Piper Sandler average debt/equity ratio for 2022 was 0.11, a 0% decline from 2021.
• Piper Sandler average debt/equity ratio for 2021 was 0.11, a 52.17% 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.