• Timken average return on tangible equity for 2023 was 78.37, a 32.54% decline from 2022.
• Timken average return on tangible equity for 2022 was 59.13, a 16.13% increase from 2021.
• Timken average return on tangible equity for 2021 was 70.5, a 55.25% 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.