• Williams average debt/equity ratio for 2023 was 1.57, a 1.95% increase from 2022.
• Williams average debt/equity ratio for 2022 was 1.54, a 3.36% increase from 2021.
• Williams average debt/equity ratio for 2021 was 1.49, a 2.05% 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.