• Baldwin Insurance average price/book ratio for 2023 was 2.64, a 8.2% increase from 2022.
• Baldwin Insurance average price/book ratio for 2022 was 2.44, a 26.28% increase from 2021.
• Baldwin Insurance average price/book ratio for 2021 was 3.31, a 21.38% decline from 2020.

Price/book ratio can be defined as