• Moderna average price/book ratio for 2024 was 3.08, a 6.94% decline from 2023.
• Moderna average price/book ratio for 2023 was 2.88, a 13.51% increase from 2022.
• Moderna average price/book ratio for 2022 was 3.33, a 73.59% decline from 2021.

Price/book ratio can be defined as