• Vipshop Holdings average price/book ratio for 2023 was 1.77, a 43.9% decline from 2022.
• Vipshop Holdings average price/book ratio for 2022 was 1.23, a 47.88% increase from 2021.
• Vipshop Holdings average price/book ratio for 2021 was 2.36, a 30.38% decline from 2020.

Price/book ratio can be defined as