• McCormick average return on tangible equity for 2023 was -17.89, a 7.45% increase from 2022.
• McCormick average return on tangible equity for 2022 was -16.65, a 4.91% increase from 2021.
• McCormick average return on tangible equity for 2021 was -17.51, a 10.16% 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.