• Descartes Systems Group average return on tangible equity for 2023 was 76.91, a 13.72% increase from 2022.
• Descartes Systems Group average return on tangible equity for 2022 was 67.63, a 4.52% increase from 2021.
• Descartes Systems Group average return on tangible equity for 2021 was 70.83, a 2.52% 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.