• Franklin Resources average return on tangible equity for 2023 was 56.88, a 11.75% decline from 2022.
• Franklin Resources average return on tangible equity for 2022 was 64.45, a 6.62% decline from 2021.
• Franklin Resources average return on tangible equity for 2021 was 60.45, a 345.14% 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.