• Zealand Pharma average debt/equity ratio for 2023 was 0.15, a 80.77% decline from 2022.
• Zealand Pharma average debt/equity ratio for 2022 was 0.78, a 333.33% decline from 2021.
• Zealand Pharma average debt/equity ratio for 2021 was 0.18, a 500% 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.