Picture Picture What was the change in the debt-equity ratio from 2008 to 2009? The debt-equity ratio declined from 1.27 in 2008 to .19 in 2009. The debt-equity ratio increased from .19 in 2008 to 1.27 in 2009. The debt-equity ratio declined from .05 in 2008 to .02 in 2009. The debt-equity ratio declined from .22 in 2008 to .17 in 2009. The debt-equity ratio increased from .17 in 2008 to .22 in 2009.