• Tesla average return on tangible equity for 2023 was 25.87, a 14.93% decline from 2022.
• Tesla average return on tangible equity for 2022 was 30.41, a 139.45% decline from 2021.
• Tesla average return on tangible equity for 2021 was 12.7, a 312.34% 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.