• Murphy Oil average return on tangible equity for 2023 was 17.84, a 27.61% decline from 2022.
• Murphy Oil average return on tangible equity for 2022 was 13.98, a 206.15% increase from 2021.
• Murphy Oil average return on tangible equity for 2021 was -13.17, a 91.98% 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.