• Ryder System average return on tangible equity for 2023 was 31.18, a 28.45% decline from 2022.
• Ryder System average return on tangible equity for 2022 was 43.58, a 173.4% decline from 2021.
• Ryder System average return on tangible equity for 2021 was 15.94, a 237.89% 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.