• Mastercard average return on tangible equity for 2023 was -193.37, a 12.23% increase from 2022.
• Mastercard average return on tangible equity for 2022 was -220.31, a 46.22% decline from 2021.
• Mastercard average return on tangible equity for 2021 was -409.65, a 113.08% decline 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.