• Ecopetrol S.A average price/book ratio for 2023 was 0.18, a 50% decline from 2022.
• Ecopetrol S.A average price/book ratio for 2022 was 0.12, a 7.69% increase from 2021.
• Ecopetrol S.A average price/book ratio for 2021 was 0.13, a 40.91% decline from 2020.

Price/book ratio can be defined as