• IES Holdings average return on tangible equity for 2023 was 33.67, a 53.12% increase from 2022.
• IES Holdings average return on tangible equity for 2022 was 21.99, a 40.66% increase from 2021.
• IES Holdings average return on tangible equity for 2021 was 37.06, a 59.74% 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.