• Carvana average return on tangible equity for 2023 was 69.51, a 95.05% decline from 2022.
• Carvana average return on tangible equity for 2022 was 1404.02, a 9031.42% decline from 2021.
• Carvana average return on tangible equity for 2021 was -15.72, a 63.92% 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.