• Apple average return on tangible equity for 2023 was 161.87, a 2.74% decline from 2022.
• Apple average return on tangible equity for 2022 was 157.55, a 17.41% increase from 2021.
• Apple average return on tangible equity for 2021 was 134.19, a 78.4% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.