• UPS average price/book ratio for 2023 was 7.28, a 15.55% decline from 2022.
• UPS average price/book ratio for 2022 was 8.62, a 39.21% decline from 2021.
• UPS average price/book ratio for 2021 was 14.18, a 77.68% decline from 2020.

Price/book ratio can be defined as