• Telenor average return on tangible equity for 2023 was 185.94, a 27.07% decline from 2022.
• Telenor average return on tangible equity for 2022 was 254.95, a 169.01% decline from 2021.
• Telenor average return on tangible equity for 2021 was -369.46, a 154.92% 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.