• Watsco average price/book ratio for 2023 was 5.88, a 31.84% increase from 2022.
• Watsco average price/book ratio for 2022 was 4.46, a 15.85% increase from 2021.
• Watsco average price/book ratio for 2021 was 5.3, a 33.17% decline from 2020.

Price/book ratio can be defined as