• New York Times average price/book ratio for 2023 was 4.13, a 16.01% increase from 2022.
• New York Times average price/book ratio for 2022 was 3.56, a 34.07% increase from 2021.
• New York Times average price/book ratio for 2021 was 5.4, a 1.12% decline from 2020.

Price/book ratio can be defined as