• Brown & Brown average price/book ratio for 2023 was 3.64, a 7.85% increase from 2022.
• Brown & Brown average price/book ratio for 2022 was 3.95, a 2.6% decline from 2021.
• Brown & Brown average price/book ratio for 2021 was 3.85, a 19.94% increase from 2020.

Price/book ratio can be defined as