• Moelis average return on tangible equity for 2023 was 5.66, a 90.32% decline from 2022.
• Moelis average return on tangible equity for 2022 was 58.46, a 19.64% decline from 2021.
• Moelis average return on tangible equity for 2021 was 72.75, a 144.54% 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.