• Suzano S.A average debt/equity ratio for 2023 was 1.7, a 34.36% increase from 2022.
• Suzano S.A average debt/equity ratio for 2022 was 2.59, a 66.84% decline from 2021.
• Suzano S.A average debt/equity ratio for 2021 was 7.81, a 70.02% 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.