• Flex average return on tangible equity for 2023 was 21.46, a 43.6% increase from 2022.
• Flex average return on tangible equity for 2022 was 38.05, a 6.85% decline from 2021.
• Flex average return on tangible equity for 2021 was 40.85, a 189.51% 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.