• ArcelorMittal average return on tangible equity for 2023 was 7.58, a 73.57% decline from 2022.
• ArcelorMittal average return on tangible equity for 2022 was 28.68, a 24.43% decline from 2021.
• ArcelorMittal average return on tangible equity for 2021 was 23.05, a 348.38% 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.