Unilever annual debt-to-equity ratio
2018
2019
2020
2021
2022
2023
2024
2025
Unilever Debt-to-Equity Ratio Growth & History (ULVR)
Unilever's debt-to-equity ratio was 1.76 for fiscal 2025.
View full Unilever company overviewUnilever annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.76 | 0.25 | +16.89% |
| 2024 | 2024-12-31 | 1.51 | −0.04 | −2.84% |
| 2023 | 2023-12-31 | 1.55 | 0.08 | +5.71% |
| 2022 | 2022-12-31 | 1.47 | 1.37 | +1422.77% |
| 2021 | 2021-12-31 | 0.10 | −0.02 | −16.91% |
| 2020 | 2020-12-31 | 0.12 | −0.03 | −20.25% |
| 2019 | 2019-12-31 | 0.15 | −0.03 | −16.31% |
| 2018 | 2018-12-31 | 0.17 | — | — |
Unilever quarterly debt-to-equity ratio
Q4.18
Q4.19
Q4.20
Q4.21
Q4.22
Q4.23
Q4.24
Q4.25
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q4 2025 | 2025-12-31 | 1.76 | 0.25 | +16.89% |
| Q4 2024 | 2024-12-31 | 1.51 | −0.04 | −2.84% |
| Q4 2023 | 2023-12-31 | 1.55 | 0.08 | +5.71% |
| Q4 2022 | 2022-12-31 | 1.47 | 1.37 | +1422.77% |
| Q4 2021 | 2021-12-31 | 0.10 | −0.02 | −16.91% |
| Q4 2020 | 2020-12-31 | 0.12 | −0.03 | −20.25% |
| Q4 2019 | 2019-12-31 | 0.15 | −0.03 | −16.31% |
| Q4 2018 | 2018-12-31 | 0.17 | — | — |
Unilever debt-to-equity ratio trends
Over the last five fiscal years, Unilever's debt-to-equity ratio increased from 0.12 to 1.76, a change of 1.65. The latest reported quarter, Q4 2025, shows 1.76.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Unilever source filings ↗