• Vonovia SE average return on tangible equity for 2023 was -17.08, a 625.54% decline from 2022.
• Vonovia SE average return on tangible equity for 2022 was 3.25, a 80.1% decline from 2021.
• Vonovia SE average return on tangible equity for 2021 was 16.33, a 33.31% 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.