• Magnolia Oil & Gas Corp average return on tangible equity for 2023 was 35.13, a 43.21% decline from 2022.
• Magnolia Oil & Gas Corp average return on tangible equity for 2022 was 61.86, a 120.46% decline from 2021.
• Magnolia Oil & Gas Corp average return on tangible equity for 2021 was 28.06, a 130.44% 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.