• Mueller Industries average return on tangible equity for 2023 was 36.61, a 32.97% decline from 2022.
• Mueller Industries average return on tangible equity for 2022 was 54.62, a 18.2% decline from 2021.
• Mueller Industries average return on tangible equity for 2021 was 46.21, a 67.73% 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.