• Norfolk Southern average price/book ratio for 2023 was 3.77, a 7.6% increase from 2022.
• Norfolk Southern average price/book ratio for 2022 was 4.08, a 5.77% decline from 2021.
• Norfolk Southern average price/book ratio for 2021 was 4.33, a 42.9% decline from 2020.

Price/book ratio can be defined as