• Volkswagen AG average return on tangible equity for 2023 was 13.65, a 34.41% decline from 2022.
• Volkswagen AG average return on tangible equity for 2022 was 20.81, a 12.05% decline from 2021.
• Volkswagen AG average return on tangible equity for 2021 was 23.66, a 83.84% 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.