• Cadence Design Systems average return on tangible equity for 2023 was 79.15, a 42.79% decline from 2022.
• Cadence Design Systems average return on tangible equity for 2022 was 55.43, a 14.19% increase from 2021.
• Cadence Design Systems average return on tangible equity for 2021 was 48.54, a 42.41% 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.