• Etsy average return on tangible equity for 2023 was 15.58, a 108.57% decline from 2022.
• Etsy average return on tangible equity for 2022 was 7.47, a 115.04% increase from 2021.
• Etsy average return on tangible equity for 2021 was -49.68, a 140.56% 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.