• First Solar average price/book ratio for 2023 was 3.2, a 61.62% decline from 2022.
• First Solar average price/book ratio for 2022 was 1.98, a 20% increase from 2021.
• First Solar average price/book ratio for 2021 was 1.65, a 33.06% increase from 2020.

Price/book ratio can be defined as