• Honda average return on tangible equity for 2023 was 7.73, a 14.35% increase from 2022.
• Honda average return on tangible equity for 2022 was 6.76, a 31.44% increase from 2021.
• Honda average return on tangible equity for 2021 was 9.86, a 126.67% 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.