• Fastenal average price/book ratio for 2023 was 9.52, a 10.31% increase from 2022.
• Fastenal average price/book ratio for 2022 was 8.63, a 12.3% increase from 2021.
• Fastenal average price/book ratio for 2021 was 9.84, a 26.64% decline from 2020.

Price/book ratio can be defined as