• Balchem average price/book ratio for 2024 was 4.67, a 10.66% decline from 2023.
• Balchem average price/book ratio for 2023 was 4.22, a 6.22% increase from 2022.
• Balchem average price/book ratio for 2022 was 4.5, a 13.79% decline from 2021.

Price/book ratio can be defined as