• Caterpillar average price/book ratio for 2023 was 6.77, a 8.15% increase from 2022.
• Caterpillar average price/book ratio for 2022 was 6.26, a 3.1% increase from 2021.
• Caterpillar average price/book ratio for 2021 was 6.46, a 32.92% decline from 2020.

Price/book ratio can be defined as