• Toyota average debt/equity ratio for 2023 was 0.58, a 1.69% increase from 2022.
• Toyota average debt/equity ratio for 2022 was 0.59, a 7.27% decline from 2021.
• Toyota average debt/equity ratio for 2021 was 0.55, a 0% 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.