• AB Volvo average return on tangible equity for 2023 was 32.89, a 14.96% increase from 2022.
• AB Volvo average return on tangible equity for 2022 was 28.61, a 0.99% increase from 2021.
• AB Volvo average return on tangible equity for 2021 was 28.33, a 41.37% increase 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.