• Restaurant Brands average return on tangible equity for 2023 was -8.38, a 20.58% decline from 2022.
• Restaurant Brands average return on tangible equity for 2022 was -6.95, a 30.15% increase from 2021.
• Restaurant Brands average return on tangible equity for 2021 was -5.34, a 5.12% 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.