• Target average price/book ratio for 2024 was 4.84, a 9.87% decline from 2023.
• Target average price/book ratio for 2023 was 5.37, a 27.33% decline from 2022.
• Target average price/book ratio for 2022 was 7.39, a 5.12% decline from 2021.

Price/book ratio can be defined as