• Trip Group average price/book ratio for 2024 was 1.6, a 20.3% increase from 2023.
• Trip Group average price/book ratio for 2023 was 1.33, a 1.48% increase from 2022.
• Trip Group average price/book ratio for 2022 was 1.35, a 48.35% decline from 2021.

Price/book ratio can be defined as