• Toro average price/book ratio for 2023 was 6.78, a 9.24% decline from 2022.
• Toro average price/book ratio for 2022 was 7.47, a 15.59% decline from 2021.
• Toro average price/book ratio for 2021 was 8.85, a 19.11% decline from 2020.

Price/book ratio can be defined as