• A O Smith average return on tangible equity for 2023 was 43.99, a 9.89% increase from 2022.
• A O Smith average return on tangible equity for 2022 was 48.82, a 0.1% decline from 2021.
• A O Smith average return on tangible equity for 2021 was 48.87, a 23.16% 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.