• Ameren average return on tangible equity for 2023 was 10.92, a 1.2% decline from 2022.
• Ameren average return on tangible equity for 2022 was 10.79, a 1.1% increase from 2021.
• Ameren average return on tangible equity for 2021 was 10.91, a 3.12% 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.