• Timken average price/book ratio for 2023 was 2.2, a 17.02% decline from 2022.
• Timken average price/book ratio for 2022 was 1.88, a 17.54% increase from 2021.
• Timken average price/book ratio for 2021 was 2.28, a 28.81% decline from 2020.

Price/book ratio can be defined as