• Toro average price/book ratio for 2023 was 6.81, a 9.2% decline from 2022.
• Toro average price/book ratio for 2022 was 7.5, a 15.64% decline from 2021.
• Toro average price/book ratio for 2021 was 8.89, a 19.17% decline from 2020.

Price/book ratio can be defined as