• Penumbra average return on tangible equity for 2023 was 5.15, a 340.65% decline from 2022.
• Penumbra average return on tangible equity for 2022 was -2.14, a 209.74% decline from 2021.
• Penumbra average return on tangible equity for 2021 was 1.95, a 25.81% 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.