• Wartsila average debt/equity ratio for 2023 was 0.23, a 11.54% decline from 2022.
• Wartsila average debt/equity ratio for 2022 was 0.26, a 36.59% decline from 2021.
• Wartsila average debt/equity ratio for 2021 was 0.41, a 22.64% 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.