• Workiva average return on tangible equity for 2023 was 80.77, a 3.86% decline from 2022.
• Workiva average return on tangible equity for 2022 was 84.01, a 235.43% decline from 2021.
• Workiva average return on tangible equity for 2021 was -62.03, a 28.98% 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.