• Moody's average price/book ratio for 2024 was 19.87, a 6.6% increase from 2023.
• Moody's average price/book ratio for 2023 was 18.64, a 6.66% increase from 2022.
• Moody's average price/book ratio for 2022 was 19.97, a 20.56% decline from 2021.

Price/book ratio can be defined as