• Elevance Health average return on tangible equity for 2023 was 360.75, a 39.92% decline from 2022.
• Elevance Health average return on tangible equity for 2022 was 600.4, a 93.48% decline from 2021.
• Elevance Health average return on tangible equity for 2021 was 310.32, a 22.13% 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.