• Vodafone Group average debt/equity ratio for 2023 was 0.83, a 19.42% decline from 2022.
• Vodafone Group average debt/equity ratio for 2022 was 1.03, a 0.98% decline from 2021.
• Vodafone Group average debt/equity ratio for 2021 was 1.02, 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.