• Varonis Systems average return on tangible equity for 2023 was -23.92, a 5.04% decline from 2022.
• Varonis Systems average return on tangible equity for 2022 was -25.19, a 23.78% decline from 2021.
• Varonis Systems average return on tangible equity for 2021 was -33.05, a 68.51% 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.