• American Water Works average return on tangible equity for 2023 was 11.54, a 40.27% decline from 2022.
• American Water Works average return on tangible equity for 2022 was 19.32, a 13.65% decline from 2021.
• American Water Works average return on tangible equity for 2021 was 17, a 20.65% 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.