• Nokia average return on tangible equity for 2023 was 23.19, a 12.9% decline from 2022.
• Nokia average return on tangible equity for 2022 was 20.54, a 234.07% increase from 2021.
• Nokia average return on tangible equity for 2021 was -15.32, a 403.95% 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.