• Amgen average return on tangible equity for 2023 was -29.03, a 14.25% decline from 2022.
• Amgen average return on tangible equity for 2022 was -25.41, a 9.83% increase from 2021.
• Amgen average return on tangible equity for 2021 was -28.18, a 22.45% 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.