• Civitas Resources average return on tangible equity for 2023 was 18.56, a 2.73% decline from 2022.
• Civitas Resources average return on tangible equity for 2022 was 19.08, a 268.34% decline from 2021.
• Civitas Resources average return on tangible equity for 2021 was 5.18, a 45.65% 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.