• Danaher average price/book ratio for 2023 was 3.41, a 15.8% decline from 2022.
• Danaher average price/book ratio for 2022 was 4.05, a 12.15% decline from 2021.
• Danaher average price/book ratio for 2021 was 4.61, a 28.77% decline from 2020.

Price/book ratio can be defined as