• Cummins average price/book ratio for 2023 was 3.01, a 3.08% increase from 2022.
• Cummins average price/book ratio for 2022 was 2.92, a 16.09% increase from 2021.
• Cummins average price/book ratio for 2021 was 3.48, a 19.59% decline from 2020.

Price/book ratio can be defined as