• Aflac average return on tangible equity for 2023 was 21.73, a 40.01% decline from 2022.
• Aflac average return on tangible equity for 2022 was 15.52, a 2.78% increase from 2021.
• Aflac average return on tangible equity for 2021 was 15.1, a 15.98% 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.