• Magna average return on tangible equity for 2023 was 10.56, a 12.34% increase from 2022.
• Magna average return on tangible equity for 2022 was 9.4, a 47.72% increase from 2021.
• Magna average return on tangible equity for 2021 was 17.98, a 207.35% 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.