• Masimo average return on tangible equity for 2023 was 19.09, a 5.7% decline from 2022.
• Masimo average return on tangible equity for 2022 was 18.06, a 2.59% increase from 2021.
• Masimo average return on tangible equity for 2021 was 18.54, a 4.33% 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.