• Tower Semiconductor average return on tangible equity for 2023 was 20.13, a 51.7% decline from 2022.
• Tower Semiconductor average return on tangible equity for 2022 was 13.27, a 64.23% increase from 2021.
• Tower Semiconductor average return on tangible equity for 2021 was 8.08, a 38.83% 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.