• Advantest average return on tangible equity for 2023 was 38.37, a 22.08% decline from 2022.
• Advantest average return on tangible equity for 2022 was 49.24, a 28.87% decline from 2021.
• Advantest average return on tangible equity for 2021 was 38.21, a 55.26% 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.