• Nasdaq average return on tangible equity for 2023 was -23.25, a 0.51% decline from 2022.
• Nasdaq average return on tangible equity for 2022 was -23.37, a 14.55% decline from 2021.
• Nasdaq average return on tangible equity for 2021 was -27.35, a 3.01% 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.