• Bayer average return on tangible equity for 2023 was 3.44, a 126.75% increase from 2022.
• Bayer average return on tangible equity for 2022 was -12.86, a 237.54% decline from 2021.
• Bayer average return on tangible equity for 2021 was 9.35, a 46.6% 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.