• Confluent average return on tangible equity for 2023 was -63.03, a 20.47% decline from 2022.
• Confluent average return on tangible equity for 2022 was -52.32, a 32.66% increase from 2021.
• Confluent average return on tangible equity for 2021 was -77.69, a 125.84% 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.