• Middleby average return on tangible equity for 2024 was -49.65, a 49.64% increase from 2023.
• Middleby average return on tangible equity for 2023 was -33.18, a 13.55% increase from 2022.
• Middleby average return on tangible equity for 2022 was -29.22, a 7.15% increase from 2021.

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.