• Garmin average price/book ratio for 2023 was 3.17, a 7.82% increase from 2022.
• Garmin average price/book ratio for 2022 was 2.94, a 32.41% increase from 2021.
• Garmin average price/book ratio for 2021 was 4.35, a 31.82% decline from 2020.

Price/book ratio can be defined as