• Amdocs average return on tangible equity for 2023 was 73.12, a 4.59% increase from 2022.
• Amdocs average return on tangible equity for 2022 was 76.64, a 0.01% decline from 2021.
• Amdocs average return on tangible equity for 2021 was 76.65, a 32.13% 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.