• Pool average price/book ratio for 2024 was 9.85, a 3.9% decline from 2023.
• Pool average price/book ratio for 2023 was 10.25, a 6.99% decline from 2022.
• Pool average price/book ratio for 2022 was 11.02, a 43.05% decline from 2021.

Price/book ratio can be defined as