• Carrier Global average return on tangible equity for 2023 was -67.02, a 40.34% decline from 2022.
• Carrier Global average return on tangible equity for 2022 was -112.33, a 121.34% decline from 2021.
• Carrier Global average return on tangible equity for 2021 was -50.75, a 30.93% 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.