• U-Haul Holding average return on tangible equity for 2023 was 11.73, a 32.66% decline from 2022.
• U-Haul Holding average return on tangible equity for 2022 was 17.42, a 2.71% decline from 2021.
• U-Haul Holding average return on tangible equity for 2021 was 16.96, a 44.46% 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.