• Ryder System average debt/equity ratio for 2024 was 2.16, a 31.71% increase from 2023.
• Ryder System average debt/equity ratio for 2023 was 1.64, a 9.89% increase from 2022.
• Ryder System average debt/equity ratio for 2022 was 1.82, a 11.22% decline from 2021.

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.