• Timken average price/book ratio for 2023 was 2.19, a 17.11% decline from 2022.
• Timken average price/book ratio for 2022 was 1.87, a 17.62% increase from 2021.
• Timken average price/book ratio for 2021 was 2.27, a 28.25% decline from 2020.

Price/book ratio can be defined as