• Trex average return on tangible equity for 2023 was 29.95, a 11.89% decline from 2022.
• Trex average return on tangible equity for 2022 was 33.99, a 9.36% decline from 2021.
• Trex average return on tangible equity for 2021 was 37.5, a 10.07% 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.