• Trip Group average price/book ratio for 2023 was 1.34, a 1.47% increase from 2022.
• Trip Group average price/book ratio for 2022 was 1.36, a 49.45% decline from 2021.
• Trip Group average price/book ratio for 2021 was 0.91, a 30% increase from 2020.

Price/book ratio can be defined as