• Visa average price/book ratio for 2023 was 11.21, a 8.1% increase from 2022.
• Visa average price/book ratio for 2022 was 10.37, a 7.33% increase from 2021.
• Visa average price/book ratio for 2021 was 11.19, a 10.79% decline from 2020.

Price/book ratio can be defined as