• Nasdaq average price/book ratio for 2023 was 3.69, a 18.72% increase from 2022.
• Nasdaq average price/book ratio for 2022 was 4.54, a 0.89% decline from 2021.
• Nasdaq average price/book ratio for 2021 was 4.5, a 46.1% increase from 2020.

Price/book ratio can be defined as