• Universal Display average price/book ratio for 2023 was 5.54, a 19.4% increase from 2022.
• Universal Display average price/book ratio for 2022 was 4.64, a 49.23% increase from 2021.
• Universal Display average price/book ratio for 2021 was 9.14, a 0% decline from 2020.

Price/book ratio can be defined as