• Cummins average price/book ratio for 2023 was 3.02, a 2.72% increase from 2022.
• Cummins average price/book ratio for 2022 was 2.94, a 16% increase from 2021.
• Cummins average price/book ratio for 2021 was 3.5, a 19.86% decline from 2020.

Price/book ratio can be defined as