• Hess average price/book ratio for 2024 was 3.85, a 17.2% decline from 2023.
• Hess average price/book ratio for 2023 was 4.65, a 5.92% decline from 2022.
• Hess average price/book ratio for 2022 was 4.39, a 26.51% increase from 2021.

Price/book ratio can be defined as