• Heico average price/book ratio for 2023 was 7.89, a 3.66% increase from 2022.
• Heico average price/book ratio for 2022 was 8.19, a 0.24% decline from 2021.
• Heico average price/book ratio for 2021 was 8.21, a 13.55% decline from 2020.

Price/book ratio can be defined as