• Southern Copper average return on tangible equity for 2023 was 34.41, a 5.96% increase from 2022.
• Southern Copper average return on tangible equity for 2022 was 36.59, a 4.34% decline from 2021.
• Southern Copper average return on tangible equity for 2021 was 38.25, a 93.18% 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.