• Macerich average price/book ratio for 2024 was 1.52, a 67.03% decline from 2023.
• Macerich average price/book ratio for 2023 was 0.91, a 33.82% increase from 2022.
• Macerich average price/book ratio for 2022 was 0.68, a 24.44% increase from 2021.

Price/book ratio can be defined as