• Yum China average return on tangible equity for 2023 was 14.54, a 6.13% increase from 2022.
• Yum China average return on tangible equity for 2022 was 13.7, a 19.36% increase from 2021.
• Yum China average return on tangible equity for 2021 was 16.99, a 13.76% 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.