• Elastic average price/book ratio for 2023 was 15.25, a 15.65% decline from 2022.
• Elastic average price/book ratio for 2022 was 18.08, a 39.55% decline from 2021.
• Elastic average price/book ratio for 2021 was 29.91, a 85.32% decline from 2020.

Price/book ratio can be defined as