• V.F average return on tangible equity for 2023 was 8.75, a 120.31% increase from 2022.
• V.F average return on tangible equity for 2022 was -43.09, a 42.51% decline from 2021.
• V.F average return on tangible equity for 2021 was -74.95, a 86.91% 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.