• Merck average price/book ratio for 2024 was 7.2, a 10.77% decline from 2023.
• Merck average price/book ratio for 2023 was 6.5, a 29.48% increase from 2022.
• Merck average price/book ratio for 2022 was 5.02, a 5.46% increase from 2021.

Price/book ratio can be defined as