• CVS Health average return on tangible equity for 2023 was -14.98, a 18.19% decline from 2022.
• CVS Health average return on tangible equity for 2022 was -18.31, a 7.01% decline from 2021.
• CVS Health average return on tangible equity for 2021 was -19.69, a 19.55% 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.