• Repligen average return on tangible equity for 2023 was 16.53, a 39.49% decline from 2022.
• Repligen average return on tangible equity for 2022 was 27.32, a 54.26% decline from 2021.
• Repligen average return on tangible equity for 2021 was 17.71, a 78.89% 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.