• Applied Materials average return on tangible equity for 2023 was 70.1, a 12.1% decline from 2022.
• Applied Materials average return on tangible equity for 2022 was 79.75, a 23.97% decline from 2021.
• Applied Materials average return on tangible equity for 2021 was 64.33, a 7.02% 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.