• Corpay average return on tangible equity for 2023 was -20.93, a 3.1% decline from 2022.
• Corpay average return on tangible equity for 2022 was -20.3, a 5.36% increase from 2021.
• Corpay average return on tangible equity for 2021 was -21.45, a 9.61% 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.