• Coherent average price/book ratio for 2023 was 1.15, a 17.27% increase from 2022.
• Coherent average price/book ratio for 2022 was 1.39, a 32.85% decline from 2021.
• Coherent average price/book ratio for 2021 was 2.07, a 14.36% decline from 2020.

Price/book ratio can be defined as