• Wells Fargo average return on tangible equity for 2023 was 11.05, a 1.19% increase from 2022.
• Wells Fargo average return on tangible equity for 2022 was 10.92, a 11.54% increase from 2021.
• Wells Fargo average return on tangible equity for 2021 was 9.79, a 219.93% 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.