• CorVel average return on tangible equity for 2023 was 42.73, a 9.54% decline from 2022.
• CorVel average return on tangible equity for 2022 was 39.01, a 25.11% increase from 2021.
• CorVel average return on tangible equity for 2021 was 31.18, a 13.63% 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.