• UPS average price/book ratio for 2023 was 7.19, a 15.61% decline from 2022.
• UPS average price/book ratio for 2022 was 8.52, a 39.23% decline from 2021.
• UPS average price/book ratio for 2021 was 14.02, a 77.67% decline from 2020.

Price/book ratio can be defined as