• Armstrong World Industries average return on tangible equity for 2023 was -1125.43, a 230.75% decline from 2022.
• Armstrong World Industries average return on tangible equity for 2022 was -340.27, a 124.27% increase from 2021.
• Armstrong World Industries average return on tangible equity for 2021 was -151.72, a 308.52% increase 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.