• Fortis average return on tangible equity for 2023 was 15.83, a 1.93% decline from 2022.
• Fortis average return on tangible equity for 2022 was 15.53, a 6.67% increase from 2021.
• Fortis average return on tangible equity for 2021 was 16.64, a 15.36% decline 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.