• News average price/book ratio for 2023 was 1.33, a 17.7% increase from 2022.
• News average price/book ratio for 2022 was 1.13, a 22.6% increase from 2021.
• News average price/book ratio for 2021 was 1.46, a 69.77% decline from 2020.

Price/book ratio can be defined as