• Paychex average price/book ratio for 2024 was 12.09, a 6.52% increase from 2023.
• Paychex average price/book ratio for 2023 was 11.35, a 12.56% increase from 2022.
• Paychex average price/book ratio for 2022 was 12.98, a 12.28% decline from 2021.

Price/book ratio can be defined as