• Tencent Holding average return on tangible equity for 2023 was 26.7, a 7.14% decline from 2022.
• Tencent Holding average return on tangible equity for 2022 was 24.92, a 7.64% increase from 2021.
• Tencent Holding average return on tangible equity for 2021 was 26.98, a 3.3% 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.