• Essential Utilities average return on tangible equity for 2023 was 14.8, a 6.57% increase from 2022.
• Essential Utilities average return on tangible equity for 2022 was 15.84, a 7.48% decline from 2021.
• Essential Utilities average return on tangible equity for 2021 was 17.12, a 78.15% 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.