• American Noble Gas average return on tangible equity for 2023 was 36.17, a 4.27% decline from 2022.
• American Noble Gas average return on tangible equity for 2022 was 34.69, a 9.16% increase from 2021.
• American Noble Gas average return on tangible equity for 2021 was 31.78, a 5.2% 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.