• Donaldson average price/book ratio for 2023 was 5.68, a 0.35% increase from 2022.
• Donaldson average price/book ratio for 2022 was 5.66, a 14.11% increase from 2021.
• Donaldson average price/book ratio for 2021 was 6.59, a 14.21% decline from 2020.

Price/book ratio can be defined as