• Summit Materials average return on tangible equity for 2023 was 31.89, a 17.66% decline from 2022.
• Summit Materials average return on tangible equity for 2022 was 38.73, a 7.32% decline from 2021.
• Summit Materials average return on tangible equity for 2021 was 41.79, a 24.88% 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.