• Costco average return on tangible equity for 2023 was 27.32, a 6.25% increase from 2022.
• Costco average return on tangible equity for 2022 was 29.14, a 2.68% decline from 2021.
• Costco average return on tangible equity for 2021 was 28.38, a 19.8% 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.