• TELUS average return on tangible equity for 2023 was -9.35, a 55.39% decline from 2022.
• TELUS average return on tangible equity for 2022 was -20.96, a 19.7% decline from 2021.
• TELUS average return on tangible equity for 2021 was -17.51, a 10.75% 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.