• Nokia average price/book ratio for 2023 was 0.94, a 21.67% increase from 2022.
• Nokia average price/book ratio for 2022 was 1.2, a 18.37% decline from 2021.
• Nokia average price/book ratio for 2021 was 1.47, a 21.49% decline from 2020.

Price/book ratio can be defined as