• Icahn Enterprises average return on tangible equity for 2023 was -10.4, a 151.82% decline from 2022.
• Icahn Enterprises average return on tangible equity for 2022 was -4.13, a 18% increase from 2021.
• Icahn Enterprises average return on tangible equity for 2021 was -3.5, a 80.75% 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.