return on equity can be calculated as roa × equity multiplier. what is another way to express this equation?

Another way to express

ROE=ROA×Equity Multiplier\text{ROE}=\text{ROA}\times \text{Equity Multiplier}ROE=ROA×Equity Multiplier

is:

ROE=Net IncomeTotal Assets×Total AssetsShareholders’ Equity=Net IncomeShareholders’ Equity.\text{ROE}=\frac{\text{Net Income}}{\text{Total Assets}}\times \frac{\text{Total Assets}}{\text{Shareholders' Equity}}=\frac{\text{Net Income}}{\text{Shareholders' Equity}}.ROE=Total AssetsNet Income​×Shareholders’ EquityTotal Assets​=Shareholders’ EquityNet Income​.

So the alternative expression is:

ROE = Net income ÷ Shareholders’ equity.