• Xylem average price/book ratio for 2023 was 3.2, a 33.75% decline from 2022.
• Xylem average price/book ratio for 2022 was 4.83, a 27.04% decline from 2021.
• Xylem average price/book ratio for 2021 was 6.62, a 40.85% decline from 2020.

Price/book ratio can be defined as