• Pool average price/book ratio for 2023 was 10.33, a 6.94% decline from 2022.
• Pool average price/book ratio for 2022 was 11.1, a 43.08% decline from 2021.
• Pool average price/book ratio for 2021 was 19.5, a 10.51% decline from 2020.

Price/book ratio can be defined as