• Heico average return on tangible equity for 2023 was 300.09, a 154.29% decline from 2022.
• Heico average return on tangible equity for 2022 was 118.01, a 45.92% increase from 2021.
• Heico average return on tangible equity for 2021 was 218.23, a 123.84% 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.