• Modine Manufacturing average return on tangible equity for 2023 was 58.22, a 10.27% decline from 2022.
• Modine Manufacturing average return on tangible equity for 2022 was 52.8, a 144.18% increase from 2021.
• Modine Manufacturing average return on tangible equity for 2021 was -119.51, a 302.93% 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.