• Allegion average price/book ratio for 2023 was 8.37, a 20.74% decline from 2022.
• Allegion average price/book ratio for 2022 was 10.56, a 26.62% decline from 2021.
• Allegion average price/book ratio for 2021 was 14.39, a 18.53% decline from 2020.

Price/book ratio can be defined as