• Avantor average price/book ratio for 2023 was 2.84, a 25.46% decline from 2022.
• Avantor average price/book ratio for 2022 was 3.81, a 39.33% decline from 2021.
• Avantor average price/book ratio for 2021 was 6.28, a 39.56% decline from 2020.

Price/book ratio can be defined as