• Carnival average price/book ratio for 2023 was 2.56, a 39.13% increase from 2022.
• Carnival average price/book ratio for 2022 was 1.84, a 6.98% increase from 2021.
• Carnival average price/book ratio for 2021 was 1.72, a 109.76% increase from 2020.

Price/book ratio can be defined as