• ADP average price/book ratio for 2024 was 21.32, a 13.33% increase from 2023.
• ADP average price/book ratio for 2023 was 24.6, a 13.32% decline from 2022.
• ADP average price/book ratio for 2022 was 28.38, a 86.34% decline from 2021.

Price/book ratio can be defined as