• Valvoline average return on tangible equity for 2023 was -1042.46, a 1228.99% decline from 2022.
• Valvoline average return on tangible equity for 2022 was -78.44, a 42.75% increase from 2021.
• Valvoline average return on tangible equity for 2021 was -54.95, a 42.36% 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.