• Northern Trust average price/book ratio for 2024 was 1.39, a 4.51% increase from 2023.
• Northern Trust average price/book ratio for 2023 was 1.33, a 19.39% increase from 2022.
• Northern Trust average price/book ratio for 2022 was 1.65, a 6.78% decline from 2021.

Price/book ratio can be defined as