• Shell average return on tangible equity for 2023 was 18.21, a 19.71% decline from 2022.
• Shell average return on tangible equity for 2022 was 22.68, a 873.39% decline from 2021.
• Shell average return on tangible equity for 2021 was 2.33, a 133.82% 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.