• Allegion average price/book ratio for 2023 was 8.4, a 20.75% increase from 2022.
• Allegion average price/book ratio for 2022 was 10.6, a 26.59% decline from 2021.
• Allegion average price/book ratio for 2021 was 14.44, a 18.56% decline from 2020.

Price/book ratio can be defined as