• IBM average price/book ratio for 2023 was 5.53, a 2.22% increase from 2022.
• IBM average price/book ratio for 2022 was 5.41, a 10.41% increase from 2021.
• IBM average price/book ratio for 2021 was 4.9, a 20.99% increase from 2020.

Price/book ratio can be defined as