• Ecopetrol S.A average return on tangible equity for 2023 was 82.32, a 23.68% decline from 2022.
• 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.

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.