• Lam Research average return on tangible equity for 2023 was 67.55, a 32.05% decline from 2022.
• Lam Research average return on tangible equity for 2022 was 99.41, a 1.47% decline from 2021.
• Lam Research average return on tangible equity for 2021 was 100.89, a 31.09% 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.