• Alibaba average return on tangible equity for 2023 was 12.02, a 127.65% decline from 2022.
• Alibaba average return on tangible equity for 2022 was 5.28, a 70.7% increase from 2021.
• Alibaba average return on tangible equity for 2021 was 18.02, a 38.83% 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.