• Twilio average return on tangible equity for 2023 was -26.41, a 6.06% decline from 2022.
• Twilio average return on tangible equity for 2022 was -24.9, a 28.75% increase from 2021.
• Twilio average return on tangible equity for 2021 was -19.34, a 14.61% 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.