• Tenaris S.A average return on tangible equity for 2023 was 26.33, a 48.59% decline from 2022.
• Tenaris S.A average return on tangible equity for 2022 was 17.72, a 185.81% increase from 2021.
• Tenaris S.A average return on tangible equity for 2021 was 6.2, a 236.87% 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.