• Coherent average return on tangible equity for 2023 was 11.65, a 4.95% decline from 2022.
• Coherent average return on tangible equity for 2022 was 11.1, a 48.8% increase from 2021.
• Coherent average return on tangible equity for 2021 was 21.68, a 153.35% 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.