• APA average price/book ratio for 2024 was 1.99, a 65.21% decline from 2023.
• APA average price/book ratio for 2023 was 5.72, a 45.58% decline from 2022.
• APA average price/book ratio for 2022 was 10.51, a 60.37% decline from 2021.

Price/book ratio can be defined as