• Northern Trust average price/book ratio for 2024 was 1.43, a 8.33% decline from 2023.
• Northern Trust average price/book ratio for 2023 was 1.32, a 19.51% increase from 2022.
• Northern Trust average price/book ratio for 2022 was 1.64, a 6.82% decline from 2021.

Price/book ratio can be defined as