• Raymond James Financial average return on tangible equity for 2023 was 21.47, a 7.08% decline from 2022.
• Raymond James Financial average return on tangible equity for 2022 was 20.05, a 7.28% increase from 2021.
• Raymond James Financial average return on tangible equity for 2021 was 18.69, a 33.98% 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.