• Primo Brands average return on tangible equity for 2023 was -15.7, a 4585.71% increase from 2022.
• Primo Brands average return on tangible equity for 2022 was 0.35, a 93.22% decline from 2021.
• Primo Brands average return on tangible equity for 2021 was 5.16, a 48.4% 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.