• Corpay average price/book ratio for 2023 was 5.82, a 1.85% increase from 2022.
• Corpay average price/book ratio for 2022 was 5.93, a 7.63% decline from 2021.
• Corpay average price/book ratio for 2021 was 6.42, a 2.28% decline from 2020.

Price/book ratio can be defined as