• Pentair average return on tangible equity for 2023 was -38, a 60.36% increase from 2022.
• Pentair average return on tangible equity for 2022 was -95.86, a 1.26% decline from 2021.
• Pentair average return on tangible equity for 2021 was -94.67, a 79.98% 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.