• Union Pacific average price/book ratio for 2024 was 8.91, a 4.6% decline from 2023.
• Union Pacific average price/book ratio for 2023 was 9.34, a 13.76% decline from 2022.
• Union Pacific average price/book ratio for 2022 was 10.83, a 17.59% decline from 2021.

Price/book ratio can be defined as