• Baidu average price/book ratio for 2023 was 1.17, a 2.5% decline from 2022.
• Baidu average price/book ratio for 2022 was 1.2, a 20.53% decline from 2021.
• Baidu average price/book ratio for 2021 was 1.51, a 23.74% decline from 2020.

Price/book ratio can be defined as