• Textron average debt/equity ratio for 2023 was 0.47, a 9.62% decline from 2022.
• Textron average debt/equity ratio for 2022 was 0.52, a 14.75% decline from 2021.
• Textron average debt/equity ratio for 2021 was 0.61, a 4.69% 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.