• James Hardie Industries average return on tangible equity for 2023 was 39.94, a 19.67% decline from 2022.
• James Hardie Industries average return on tangible equity for 2022 was 49.72, a 1.53% decline from 2021.
• James Hardie Industries average return on tangible equity for 2021 was 48.97, a 87.77% 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.