Equity refers to the difference between the total value of an individual’s assets and their aggregate debt or liabilities in this case. The formula for the personal D/E ratio is slightly ...

A debt-to-equity ... a formula for borrowing money in a way that potentially yields long-term value. In Apple's case, for example, the company has borrowed money for purposes like share buybacks ...

A company’s assets are either funded by debt or equity, so some analysts and investors disregard the cost of acquiring the asset by adding back interest expense in the formula for ROA.