• Allegion average return on tangible equity for 2023 was -56.39, a 31.8% increase from 2022.
• Allegion average return on tangible equity for 2022 was -82.68, a 11.83% decline from 2021.
• Allegion average return on tangible equity for 2021 was -93.77, a 84.62% 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.