• Invitation Home average return on tangible equity for 2023 was 4.63, a 31.16% decline from 2022.
• Invitation Home average return on tangible equity for 2022 was 3.53, a 27.44% increase from 2021.
• Invitation Home average return on tangible equity for 2021 was 2.77, a 20.96% 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.