• Timken average debt/equity ratio for 2023 was 0.72, a 2.7% decline from 2022.
• Timken average debt/equity ratio for 2022 was 0.74, a 21.31% decline from 2021.
• Timken average debt/equity ratio for 2021 was 0.61, a 23.75% 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.