• Fastenal average price/book ratio for 2023 was 9.57, a 10.38% increase from 2022.
• Fastenal average price/book ratio for 2022 was 8.67, a 12.34% increase from 2021.
• Fastenal average price/book ratio for 2021 was 9.89, a 26.63% decline from 2020.

Price/book ratio can be defined as