• Fortis average price/book ratio for 2023 was 1.1, a 0% increase from 2022.
• Fortis average price/book ratio for 2022 was 1.1, a 1.79% decline from 2021.
• Fortis average price/book ratio for 2021 was 1.12, a 12% decline from 2020.

Price/book ratio can be defined as