• T Rowe Price average return on tangible equity for 2023 was 25.76, a 27.88% increase from 2022.
• T Rowe Price average return on tangible equity for 2022 was 35.72, a 14.18% decline from 2021.
• T Rowe Price average return on tangible equity for 2021 was 41.62, a 24.39% 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.