• Parker-Hannifin average return on tangible equity for 2023 was -24.69, a 40.79% increase from 2022.
• Parker-Hannifin average return on tangible equity for 2022 was -41.7, a 6.52% decline from 2021.
• Parker-Hannifin average return on tangible equity for 2021 was -44.61, a 60.58% 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.