• CNH Industrial average price/book ratio for 2023 was 2.2, a 19.12% decline from 2022.
• CNH Industrial average price/book ratio for 2022 was 2.72, a 21.39% decline from 2021.
• CNH Industrial average price/book ratio for 2021 was 3.46, a 76.53% decline from 2020.

Price/book ratio can be defined as