• American average price/book ratio for 2023 was 0.88, a 1.15% increase from 2022.
• American average price/book ratio for 2022 was 0.87, a 42.62% increase from 2021.
• American average price/book ratio for 2021 was 0.61, a 64.86% increase from 2020.

Price/book ratio can be defined as