• Avantor average return on tangible equity for 2023 was -8.99, a 18.42% decline from 2022.
• Avantor average return on tangible equity for 2022 was -11.02, a 37.06% decline from 2021.
• Avantor average return on tangible equity for 2021 was -8.04, a 8833.33% 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.