• Ecopetrol S.A average return on tangible equity for 2022 was 66.56, a 196.75% increase from 2021.
• Ecopetrol S.A average return on tangible equity for 2021 was 22.43, a 47.53% increase from 2020.
• Ecopetrol S.A average return on tangible equity for 2020 was 42.75, a 37.73% decline from 2019.

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.