Price to Book

The price to book (P/BV) ratio of asset $//<![CDATA[ \begin{array}{l}i\end{array} //]]>$ is defined thus:

$$//<![CDATA[ \begin{array}{l}\displaystyle \text{P/BV}_{i} = \frac{P_{i}}{BV_{i}}\end{array} //]]>$$

where:

$//<![CDATA[ \begin{array}{l}P_{i}\end{array} //]]>$ is the estimated fair value of asset  $//<![CDATA[ \begin{array}{l}i\end{array} //]]>$
$//<![CDATA[ \begin{array}{l}\textit{BV}_{i}\end{array} //]]>$ is the 5-year trailing average book value of asset  $//<![CDATA[ \begin{array}{l}i\end{array} //]]>$