• 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.
• Volkswagen AG average return on tangible equity for 2020 was 12.87, a 49.19% increase from 2019.

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.