• Voya Financial average return on tangible equity for 2023 was 14.44, a 24.7% increase from 2022.
• Voya Financial average return on tangible equity for 2022 was 11.58, a 31.32% increase from 2021.
• Voya Financial average return on tangible equity for 2021 was 16.86, a 329.39% 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.