• ADP average price/book ratio for 2024 was 21.74, a 11.12% increase from 2023.
• ADP average price/book ratio for 2023 was 24.46, a 13.35% decline from 2022.
• ADP average price/book ratio for 2022 was 28.23, a 86.34% decline from 2021.

Price/book ratio can be defined as