• 3M average price/book ratio for 2023 was 6.82, a 83.33% increase from 2022.
• 3M average price/book ratio for 2022 was 3.72, a 30.98% increase from 2021.
• 3M average price/book ratio for 2021 was 5.39, a 2.53% decline from 2020.

Price/book ratio can be defined as