• Celsius Holdings average return on tangible equity for 2023 was -58.45, a 8.67% decline from 2022.
• Celsius Holdings average return on tangible equity for 2022 was -64, a 1205.35% decline from 2021.
• Celsius Holdings average return on tangible equity for 2021 was 5.79, a 40.98% 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.