• Harley-Davidson average return on tangible equity for 2023 was 25.5, a 5.38% decline from 2022.
• Harley-Davidson average return on tangible equity for 2022 was 26.95, a 14.73% decline from 2021.
• Harley-Davidson average return on tangible equity for 2021 was 23.49, a 189.64% 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.