• Pentair average debt/equity ratio for 2023 was 0.72, a 10.77% decline from 2022.
• Pentair average debt/equity ratio for 2022 was 0.65, a 85.71% increase from 2021.
• Pentair average debt/equity ratio for 2021 was 0.35, a 32.69% 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.