• Hormel Foods average return on tangible equity for 2023 was 106.03, a 47.6% decline from 2022.
• Hormel Foods average return on tangible equity for 2022 was 202.33, a 393.37% decline from 2021.
• Hormel Foods average return on tangible equity for 2021 was 41.01, a 9.21% increase 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.