• MSA Safety Incorporporated average return on tangible equity for 2023 was -58.45, a 65.98% decline from 2022.
• MSA Safety Incorporporated average return on tangible equity for 2022 was -171.8, a 424.21% decline from 2021.
• MSA Safety Incorporporated average return on tangible equity for 2021 was 52.99, a 50.73% 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.