• American Express average return on tangible equity for 2023 was 29.68, a 8.37% increase from 2022.
• American Express average return on tangible equity for 2022 was 32.39, a 12.5% decline from 2021.
• American Express average return on tangible equity for 2021 was 28.79, a 61.83% 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.