It fetches the page, strips out <script> tags, <style> tags, and HTML comments, then measures the remaining visible text as a share of the total HTML document size — text bytes divided by total HTML bytes. This is an old, informal SEO heuristic. Google has said plainly that it is not a ranking factor, so the result here is informational context, not a pass/fail grade.
What to do with the result
There's nothing to "fix" here in the way you'd fix a missing canonical tag or a broken link. If your ratio is unusually low or high and you're curious why, check whether the page relies heavily on client-side rendering, carries large inline scripts or JSON payloads, or is genuinely just a short page with a lot of surrounding template markup. If the content itself is what you want to improve, the Readability Checker and Keyword Density tool are better suited to that than this ratio is.