• NetEase average price/book ratio for 2023 was 3.25, a 13.64% decline from 2022.
• NetEase average price/book ratio for 2022 was 2.86, a 29.21% increase from 2021.
• NetEase average price/book ratio for 2021 was 4.04, a 10.22% decline from 2020.

Price/book ratio can be defined as