• FirstService average return on tangible equity for 2023 was -31.26, a 2.95% decline from 2022.
• FirstService average return on tangible equity for 2022 was -32.21, a 7.83% decline from 2021.
• FirstService average return on tangible equity for 2021 was -29.87, a 1606.86% 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.