• Westlake average debt/equity ratio for 2023 was 0.43, a 12.24% decline from 2022.
• Westlake average debt/equity ratio for 2022 was 0.49, a 10.91% decline from 2021.
• Westlake average debt/equity ratio for 2021 was 0.55, a 8.33% 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.