• NVent Electric average return on tangible equity for 2023 was -69.52, a 59.08% decline from 2022.
• NVent Electric average return on tangible equity for 2022 was -43.7, a 151.44% increase from 2021.
• NVent Electric average return on tangible equity for 2021 was -17.38, a 151.88% 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.