• Heico average price/book ratio for 2023 was 6.28, a 4.99% increase from 2022.
• Heico average price/book ratio for 2022 was 6.61, a 10.8% decline from 2021.
• Heico average price/book ratio for 2021 was 7.41, a 24.33% decline from 2020.

Price/book ratio can be defined as