• Wells Fargo average return on tangible equity for 2023 was 11.85, a 18.86% increase from 2022.
• Wells Fargo average return on tangible equity for 2022 was 9.97, a 16.92% increase from 2021.
• Wells Fargo average return on tangible equity for 2021 was 12, a 952.63% 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.