• Hershey average price/book ratio for 2023 was 11.82, a 16.99% decline from 2022.
• Hershey average price/book ratio for 2022 was 14.24, a 3.49% decline from 2021.
• Hershey average price/book ratio for 2021 was 13.76, a 1.22% increase from 2020.

Price/book ratio can be defined as