• American Tower average return on tangible equity for 2023 was -6.16, a 45.63% increase from 2022.
• American Tower average return on tangible equity for 2022 was -11.33, a 11.62% decline from 2021.
• American Tower average return on tangible equity for 2021 was -12.82, a 10.85% 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.