• Woodward average price/book ratio for 2023 was 3.38, a 13.42% increase from 2022.
• Woodward average price/book ratio for 2022 was 2.98, a 9.42% increase from 2021.
• Woodward average price/book ratio for 2021 was 3.29, a 26.54% decline from 2020.

Price/book ratio can be defined as