• 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.
• Ryder System average debt/equity ratio for 2021 was 2.05, a 31.67% 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.