• Ecolab average return on tangible equity for 2023 was -29.13, a 13.7% increase from 2022.
• Ecolab average return on tangible equity for 2022 was -25.62, a 35.56% increase from 2021.
• Ecolab average return on tangible equity for 2021 was -18.9, a 223.61% 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.