• V.F average price/book ratio for 2023 was 3, a 28.4% increase from 2022.
• V.F average price/book ratio for 2022 was 4.19, a 45.94% decline from 2021.
• V.F average price/book ratio for 2021 was 7.75, a 4.73% decline from 2020.

Price/book ratio can be defined as