• TIM S.A average return on tangible equity for 2023 was 23.74, a 33.82% increase from 2022.
• TIM S.A average return on tangible equity for 2022 was 17.74, a 4.78% increase from 2021.
• TIM S.A average return on tangible equity for 2021 was 16.93, a 6.62% 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.