• Valero Energy average return on tangible equity for 2023 was 42.11, a 19.29% decline from 2022.
• Valero Energy average return on tangible equity for 2022 was 35.3, a 2501.36% increase from 2021.
• Valero Energy average return on tangible equity for 2021 was -1.47, a 14600% 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.