• Veeva Systems average return on tangible equity for 2023 was 16.7, a 3.13% decline from 2022.
• Veeva Systems average return on tangible equity for 2022 was 17.24, a 28.35% decline from 2021.
• Veeva Systems average return on tangible equity for 2021 was 24.06, a 3.64% 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.