• Incyte average price/book ratio for 2023 was 2.97, a 27.03% increase from 2022.
• Incyte average price/book ratio for 2022 was 4.07, a 26% decline from 2021.
• Incyte average price/book ratio for 2021 was 5.5, a 34.13% decline from 2020.

Price/book ratio can be defined as