• Fortis average price/book ratio for 2023 was 1.11, a 0% increase from 2022.
• Fortis average price/book ratio for 2022 was 1.11, a 2.63% decline from 2021.
• Fortis average price/book ratio for 2021 was 1.14, a 12.87% decline from 2020.

Price/book ratio can be defined as