• Flex average return on tangible equity for 2023 was 19.16, a 45.49% increase from 2022.
• Flex average return on tangible equity for 2022 was 35.15, a 22.71% decline from 2021.
• Flex average return on tangible equity for 2021 was 45.48, a 131.45% 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.