• Coty average return on tangible equity for 2023 was -8.69, a 289.69% decline from 2022.
• Coty average return on tangible equity for 2022 was -2.23, a 132.84% increase from 2021.
• Coty average return on tangible equity for 2021 was 6.79, a 68.7% 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.