• Shopify average price/book ratio for 2024 was 10.65, a 12.46% increase from 2023.
• Shopify average price/book ratio for 2023 was 9.47, a 68.21% increase from 2022.
• Shopify average price/book ratio for 2022 was 5.63, a 64.59% increase from 2021.

Price/book ratio can be defined as