• Franco-Nevada average price/book ratio for 2024 was 3.88, a 0.26% increase from 2023.
• Franco-Nevada average price/book ratio for 2023 was 3.89, a 4.19% decline from 2022.
• Franco-Nevada average price/book ratio for 2022 was 4.06, a 4.69% decline from 2021.

Price/book ratio can be defined as