• CF Industries Holdings average return on tangible equity for 2023 was 38.93, a 32.86% decline from 2022.
• CF Industries Holdings average return on tangible equity for 2022 was 57.98, a 282.45% decline from 2021.
• CF Industries Holdings average return on tangible equity for 2021 was 15.16, a 34.4% 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.