• Trend Micro average return on tangible equity for 2023 was 20.33, a 7.3% increase from 2022.
• Trend Micro average return on tangible equity for 2022 was 21.93, a 3.48% decline from 2021.
• Trend Micro average return on tangible equity for 2021 was 22.72, a 2.3% 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.