• 3M average price/book ratio for 2023 was 6.86, a 83.42% increase from 2022.
• 3M average price/book ratio for 2022 was 3.74, a 30.87% increase from 2021.
• 3M average price/book ratio for 2021 was 5.41, a 2.7% decline from 2020.

Price/book ratio can be defined as