• Cognex average price/book ratio for 2023 was 5.47, a 14.4% decline from 2022.
• Cognex average price/book ratio for 2022 was 6.39, a 35.19% decline from 2021.
• Cognex average price/book ratio for 2021 was 9.86, a 29.4% decline from 2020.

Price/book ratio can be defined as