• EMCOR average return on tangible equity for 2023 was 94.8, a 42.71% decline from 2022.
• EMCOR average return on tangible equity for 2022 was 66.43, a 41.58% increase from 2021.
• EMCOR average return on tangible equity for 2021 was 46.92, a 7.54% 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.