• Jfe Holdings average return on tangible equity for 2023 was 7.39, a 47.14% decline from 2022.
• Jfe Holdings average return on tangible equity for 2022 was 13.98, a 76.29% decline from 2021.
• Jfe Holdings average return on tangible equity for 2021 was 7.93, a 586.5% 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.