• Cognex average price/book ratio for 2023 was 5.48, a 14.51% decline from 2022.
• Cognex average price/book ratio for 2022 was 6.41, a 35.12% decline from 2021.
• Cognex average price/book ratio for 2021 was 9.88, a 29.49% decline from 2020.

Price/book ratio can be defined as