Shoe Carnival Inc Return on Tangible Equity (ROTE) is 13.61% for the year ending January 31, 2024, a -40.51% change year over year. Return on tangible equity measures the profitability of a company relative to its tangible equity, which is shareholders' equity minus goodwill and intangible assets. It is calculated by dividing the net income by the tangible equity. This ratio indicates the return generated for each unit of tangible equity invested by the shareholders. A higher return on tangible equity suggests better profitability and value creation for the shareholders' tangible investment.