• ON Semiconductor average return on tangible equity for 2023 was 44.53, a 29.11% decline from 2022.
• ON Semiconductor average return on tangible equity for 2022 was 62.82, a 63.38% decline from 2021.
• ON Semiconductor average return on tangible equity for 2021 was 38.45, a 246.4% 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.