• Equity Residential average return on tangible equity for 2023 was 7.21, a 29.17% increase from 2022.
• Equity Residential average return on tangible equity for 2022 was 10.18, a 16.21% decline from 2021.
• Equity Residential average return on tangible equity for 2021 was 8.76, a 10.06% 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.