• Advanced Drainage Systems average return on tangible equity for 2023 was -1162.9, a 48.26% decline from 2022.
• Advanced Drainage Systems average return on tangible equity for 2022 was -2247.8, a 765.14% decline from 2021.
• Advanced Drainage Systems average return on tangible equity for 2021 was -259.82, a 4539.64% 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.