• Badger Meter average price/book ratio for 2023 was 8.5, a 30.57% increase from 2022.
• Badger Meter average price/book ratio for 2022 was 6.51, a 11.55% increase from 2021.
• Badger Meter average price/book ratio for 2021 was 7.36, a 31.9% decline from 2020.

Price/book ratio can be defined as