• McDonald's average return on tangible equity for 2023 was -93.34, a 26.55% increase from 2022.
• McDonald's average return on tangible equity for 2022 was -73.76, a 5.1% increase from 2021.
• McDonald's average return on tangible equity for 2021 was -70.18, a 56.86% 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.