• Warner Bros Discovery average debt/equity ratio for 2023 was 0.94, a 6% increase from 2022.
• Warner Bros Discovery average debt/equity ratio for 2022 was 1, a 12.28% decline from 2021.
• Warner Bros Discovery average debt/equity ratio for 2021 was 1.14, a 13.64% 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.