• Gentex average return on tangible equity for 2023 was 24.69, a 4.53% decline from 2022.
• Gentex average return on tangible equity for 2022 was 23.62, a 20.63% increase from 2021.
• Gentex average return on tangible equity for 2021 was 29.76, a 13.89% 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.