• First Horizon average price/book ratio for 2024 was 0.9, a 13.92% increase from 2023.
• First Horizon average price/book ratio for 2023 was 0.79, a 40.6% increase from 2022.
• First Horizon average price/book ratio for 2022 was 1.33, a 40% decline from 2021.

Price/book ratio can be defined as