• Fortive average price/book ratio for 2023 was 2.54, a 15.45% decline from 2022.
• Fortive average price/book ratio for 2022 was 2.2, a 18.82% increase from 2021.
• Fortive average price/book ratio for 2021 was 2.71, a 7.97% decline from 2020.

Price/book ratio can be defined as