• NIKE average return on tangible equity for 2023 was 37.01, a 9.58% increase from 2022.
• NIKE average return on tangible equity for 2022 was 40.93, a 13.21% decline from 2021.
• NIKE average return on tangible equity for 2021 was 47.16, a 30.82% 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.