• Toll Brothers average return on tangible equity for 2023 was 23.04, a 18.34% decline from 2022.
• Toll Brothers average return on tangible equity for 2022 was 19.47, a 52.59% increase from 2021.
• Toll Brothers average return on tangible equity for 2021 was 12.76, a 29.15% 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.