Calculating leverage ratios: levine, Inc., has a total debt ratio of .53. What is its debt-equity ratio? what is equity multiplier? Solution Debt ratio = .53 Debt/Assets = .53 Debt = .53 Assets Equity = 1- Debt Equity = .47 Assets Debt Equity Ratio = .53/.47 = 1.13 Equity Multiplier = Assets/ Equity = 1/.47 = 2.13.