• Chewy average return on tangible equity for 2023 was 26.44, a 124.79% increase from 2022.
• Chewy average return on tangible equity for 2022 was -106.64, a 458.82% decline from 2021.
• Chewy average return on tangible equity for 2021 was 29.72, a 52.41% 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.