• Brown Forman average price/book ratio for 2023 was 9.61, a 16.51% decline from 2022.
• Brown Forman average price/book ratio for 2022 was 11.51, a 4.16% decline from 2021.
• Brown Forman average price/book ratio for 2021 was 12.01, a 12.59% decline from 2020.

Price/book ratio can be defined as