• Welltower average return on tangible equity for 2023 was 0.93, a 34.97% increase from 2022.
• Welltower average return on tangible equity for 2022 was 1.43, a 54.02% decline from 2021.
• Welltower average return on tangible equity for 2021 was 3.11, a 54.8% 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.