• AutoNation average return on tangible equity for 2023 was 143.47, a 65.09% decline from 2022.
• AutoNation average return on tangible equity for 2022 was 411, a 341.94% decline from 2021.
• AutoNation average return on tangible equity for 2021 was 93, a 288.96% 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.