• Five Below average return on tangible equity for 2023 was 20.5, a 12.21% decline from 2022.
• Five Below average return on tangible equity for 2022 was 23.35, a 6.41% decline from 2021.
• Five Below average return on tangible equity for 2021 was 24.95, a 44.14% 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.