• American Homes 4 Rent average return on tangible equity for 2023 was 4.84, a 59.74% decline from 2022.
• American Homes 4 Rent average return on tangible equity for 2022 was 3.03, a 72.16% increase from 2021.
• American Homes 4 Rent average return on tangible equity for 2021 was 1.76, a 23.08% 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.