• Subaru average return on tangible equity for 2023 was 6.03, a 8.5% increase from 2022.
• Subaru average return on tangible equity for 2022 was 6.59, a 17.42% decline from 2021.
• Subaru average return on tangible equity for 2021 was 7.98, a 35.07% 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.