• Service average debt/equity ratio for 2023 was 2.79, a 19.74% increase from 2022.
• Service average debt/equity ratio for 2022 was 2.33, a 19.49% increase from 2021.
• Service average debt/equity ratio for 2021 was 1.95, a 3.94% 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.