• IES Holdings average price/book ratio for 2023 was 2.8, a 47.37% increase from 2022.
• IES Holdings average price/book ratio for 2022 was 1.9, a 38.51% increase from 2021.
• IES Holdings average price/book ratio for 2021 was 3.09, a 40.45% decline from 2020.

Price/book ratio can be defined as