• Twilio average debt/equity ratio for 2014-12-31 was 0, a 0% decline from 2015-06-30.
• Twilio average debt/equity ratio for 2015-06-30 was 0, a 0% decline from 2015-09-30.
• Twilio average debt/equity ratio for 2015-09-30 was 0, a 0% decline from 2015-12-31.

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.