• Sage Group average debt/equity ratio for 2023 was 0.92, a 9.52% increase from 2022.
• Sage Group average debt/equity ratio for 2022 was 0.84, a 35.48% increase from 2021.
• Sage Group average debt/equity ratio for 2021 was 0.62, a 1.64% 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.