• GFL Environmental average return on tangible equity for 2023 was 6.31, a 0.94% increase from 2022.
• GFL Environmental average return on tangible equity for 2022 was 6.37, a 69.49% decline from 2021.
• GFL Environmental average return on tangible equity for 2021 was 20.88, a 24.89% 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.