• Carpenter Technology average return on tangible equity for 2023 was 7.42, a 253.94% increase from 2022.
• Carpenter Technology average return on tangible equity for 2022 was -4.82, a 75.89% decline from 2021.
• Carpenter Technology average return on tangible equity for 2021 was -19.99, a 549.03% 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.