• Murata Manufacturing average return on tangible equity for 2023 was 10.3, a 23.48% decline from 2022.
• Murata Manufacturing average return on tangible equity for 2022 was 13.46, a 11.39% decline from 2021.
• Murata Manufacturing average return on tangible equity for 2021 was 15.19, a 26.06% 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.