• Rio Tinto average debt/equity ratio for 2023 was 0.24, a 14.29% decline from 2022.
• Rio Tinto average debt/equity ratio for 2022 was 0.21, a 4.55% increase from 2021.
• Rio Tinto average debt/equity ratio for 2021 was 0.22, a 24.14% 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.