• Southern average price/book ratio for 2023 was 2.06, a 0% increase from 2022.
• Southern average price/book ratio for 2022 was 2.06, a 14.44% decline from 2021.
• Southern average price/book ratio for 2021 was 1.8, a 17.65% increase from 2020.

Price/book ratio can be defined as