• Parker-Hannifin average return on tangible equity for 2023 was -27.78, a 24.55% increase from 2022.
• Parker-Hannifin average return on tangible equity for 2022 was -36.82, a 29.88% decline from 2021.
• Parker-Hannifin average return on tangible equity for 2021 was -52.51, a 114.68% 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.