Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Air Products & Chemicals Inc., historical price multiples (quarterly data)
Based on: 10-Q (filing date: 2021-05-10), 10-Q (filing date: 2021-02-04), 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Air Products & Chemicals Inc.’s P/E ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level. |
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Air Products & Chemicals Inc.’s P/OP ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level. |
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Air Products & Chemicals Inc.’s P/S ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. | Air Products & Chemicals Inc.’s P/BV ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level. |
Price to Earnings (P/E)
Air Products & Chemicals Inc., historical P/E calculation (quarterly data)
| Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 221,314,258 | 221,276,890 | 221,026,592 | 220,894,376 | 220,854,647 | 220,678,482 | 220,433,925 | 220,355,139 | 220,132,561 | 219,631,171 | 219,533,532 | 219,272,496 | 219,193,653 | 218,939,303 | 218,618,346 | 217,957,369 | 217,724,491 | 217,589,952 | 217,375,097 | 216,549,704 | 216,081,188 | 215,650,358 | 215,426,569 | 214,982,451 | 214,764,754 | 214,274,045 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Net income (loss) attributable to Air Products (in thousands) | 473,100 | 482,000 | 486,800 | 446,500 | 477,800 | 475,600 | 503,200 | 488,000 | 421,300 | 347,500 | 452,900 | 473,900 | 416,400 | 154,600 | 468,700 | 101,900 | 2,130,000 | 299,800 | 394,000 | 346,800 | (473,300) | 363,600 | 344,500 | 318,800 | 290,000 | 324,600 | ||||||||
| Earnings per share (EPS)2 | 8.53 | 8.56 | 8.54 | 8.62 | 8.80 | 8.56 | 7.98 | 7.76 | 7.70 | 7.70 | 6.82 | 6.90 | 5.21 | 13.04 | 13.72 | 13.42 | 14.56 | 2.61 | 2.90 | 2.69 | 2.56 | 6.11 | 5.93 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 293.53 | 256.70 | 270.36 | 293.25 | 211.27 | 243.95 | 234.40 | 227.65 | 199.42 | 160.91 | 157.56 | 161.55 | 166.29 | 169.85 | 161.18 | 148.92 | 141.10 | 142.01 | 139.74 | 149.42 | 148.54 | 126.71 | 139.47 | 142.34 | 143.43 | 145.61 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/E ratio4 | 34.40 | 30.00 | 31.67 | 34.04 | 23.99 | 28.51 | 29.36 | 29.34 | 25.89 | 20.90 | 23.09 | 23.40 | 31.93 | 13.02 | 11.74 | 11.09 | 9.69 | 54.47 | 48.13 | 55.63 | 57.98 | 20.75 | 23.51 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Ecolab Inc. | — | — | — | — | — | 36.32 | 33.36 | 36.32 | 38.66 | 35.94 | 34.27 | 27.58 | 27.16 | 27.69 | 25.06 | 28.97 | 29.74 | 29.23 | 29.77 | — | — | — | — | — | — | — | ||||||||
| Linde plc | — | 53.02 | 52.57 | 58.47 | 56.55 | 41.46 | 46.22 | 23.26 | 23.17 | 22.22 | 21.71 | 32.38 | 34.34 | 33.96 | 34.48 | 26.44 | 24.65 | 23.36 | 22.87 | — | — | — | — | — | — | — | ||||||||
| Sherwin-Williams Co. | — | 33.77 | 31.64 | 32.67 | 33.10 | 30.24 | 34.31 | 37.55 | 39.47 | 37.74 | 36.79 | 18.09 | 21.86 | 19.55 | 21.12 | 34.06 | 28.53 | 25.05 | 25.74 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (filing date: 2021-05-10), 10-Q (filing date: 2021-02-04), 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2021 Calculation
EPS
= (Net income (loss) attributable to Air ProductsQ2 2021
+ Net income (loss) attributable to Air ProductsQ1 2021
+ Net income (loss) attributable to Air ProductsQ4 2020
+ Net income (loss) attributable to Air ProductsQ3 2020)
÷ No. shares of common stock outstanding
= (473,100,000 + 482,000,000 + 486,800,000 + 446,500,000)
÷ 221,314,258 = 8.53
3 Closing price as at the filing date of Air Products & Chemicals Inc.’s Quarterly or Annual Report.
4 Q2 2021 Calculation
P/E ratio = Share price ÷ EPS
= 293.53 ÷ 8.53 = 34.40
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Air Products & Chemicals Inc.’s P/E ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level. |
Price to Operating Profit (P/OP)
Air Products & Chemicals Inc., historical P/OP calculation (quarterly data)
| Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 221,314,258 | 221,276,890 | 221,026,592 | 220,894,376 | 220,854,647 | 220,678,482 | 220,433,925 | 220,355,139 | 220,132,561 | 219,631,171 | 219,533,532 | 219,272,496 | 219,193,653 | 218,939,303 | 218,618,346 | 217,957,369 | 217,724,491 | 217,589,952 | 217,375,097 | 216,549,704 | 216,081,188 | 215,650,358 | 215,426,569 | 214,982,451 | 214,764,754 | 214,274,045 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Operating income (in thousands) | 548,500 | 539,100 | 560,200 | 539,200 | 577,200 | 561,000 | 603,200 | 569,700 | 516,500 | 455,000 | 533,700 | 515,800 | 455,400 | 460,700 | 455,700 | 252,600 | 391,200 | 328,100 | 547,000 | 535,100 | 513,300 | 510,600 | 472,200 | 422,500 | 374,400 | 430,000 | ||||||||
| Operating profit per share2 | 9.88 | 10.01 | 10.12 | 10.32 | 10.46 | 10.20 | 9.73 | 9.42 | 9.18 | 8.92 | 8.95 | 8.61 | 7.41 | 7.13 | 6.53 | 6.97 | 8.27 | 8.84 | 9.69 | 9.38 | 8.88 | 8.25 | 7.89 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 293.53 | 256.70 | 270.36 | 293.25 | 211.27 | 243.95 | 234.40 | 227.65 | 199.42 | 160.91 | 157.56 | 161.55 | 166.29 | 169.85 | 161.18 | 148.92 | 141.10 | 142.01 | 139.74 | 149.42 | 148.54 | 126.71 | 139.47 | 142.34 | 143.43 | 145.61 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/OP ratio4 | 29.70 | 25.64 | 26.71 | 28.40 | 20.19 | 23.92 | 24.10 | 24.18 | 21.72 | 18.03 | 17.60 | 18.77 | 22.44 | 23.83 | 24.68 | 21.37 | 17.05 | 16.06 | 14.42 | 15.93 | 16.73 | 15.35 | 17.68 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Ecolab Inc. | — | 49.62 | 42.88 | 34.03 | 32.29 | 27.75 | 25.82 | 27.20 | 29.44 | 27.11 | 25.16 | 22.14 | 20.56 | 20.79 | 18.71 | 19.45 | 19.75 | 19.10 | 19.12 | — | — | — | — | — | — | — | ||||||||
| Linde plc | — | 40.55 | 39.58 | 44.47 | 43.23 | 31.75 | 36.01 | 20.05 | 20.02 | 18.94 | 18.13 | 17.56 | 18.38 | 17.80 | 17.56 | 17.76 | 16.63 | 15.80 | 15.33 | — | — | — | — | — | — | — | ||||||||
| Sherwin-Williams Co. | — | 24.24 | 22.45 | 23.35 | 23.53 | 20.60 | 23.12 | 23.94 | 22.65 | 21.86 | 21.72 | 16.97 | 21.57 | 19.12 | 21.19 | 21.13 | 18.13 | 16.57 | 16.76 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (filing date: 2021-05-10), 10-Q (filing date: 2021-02-04), 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2021 Calculation
Operating profit per share
= (Operating incomeQ2 2021
+ Operating incomeQ1 2021
+ Operating incomeQ4 2020
+ Operating incomeQ3 2020)
÷ No. shares of common stock outstanding
= (548,500,000 + 539,100,000 + 560,200,000 + 539,200,000)
÷ 221,314,258 = 9.88
3 Closing price as at the filing date of Air Products & Chemicals Inc.’s Quarterly or Annual Report.
4 Q2 2021 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 293.53 ÷ 9.88 = 29.70
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Air Products & Chemicals Inc.’s P/OP ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level. |
Price to Sales (P/S)
Air Products & Chemicals Inc., historical P/S calculation (quarterly data)
| Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 221,314,258 | 221,276,890 | 221,026,592 | 220,894,376 | 220,854,647 | 220,678,482 | 220,433,925 | 220,355,139 | 220,132,561 | 219,631,171 | 219,533,532 | 219,272,496 | 219,193,653 | 218,939,303 | 218,618,346 | 217,957,369 | 217,724,491 | 217,589,952 | 217,375,097 | 216,549,704 | 216,081,188 | 215,650,358 | 215,426,569 | 214,982,451 | 214,764,754 | 214,274,045 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Sales (in thousands) | 2,502,000 | 2,375,200 | 2,320,100 | 2,065,200 | 2,216,300 | 2,254,700 | 2,283,200 | 2,224,000 | 2,187,700 | 2,224,000 | 2,298,900 | 2,259,000 | 2,155,700 | 2,216,600 | 2,203,100 | 2,121,900 | 1,980,100 | 1,882,500 | 2,463,000 | 2,434,400 | 2,271,200 | 2,355,800 | 2,449,400 | 2,470,200 | 2,414,500 | 2,560,800 | ||||||||
| Sales per share2 | 41.85 | 40.57 | 40.07 | 39.93 | 40.65 | 40.55 | 40.46 | 40.55 | 40.75 | 40.69 | 40.68 | 40.29 | 39.68 | 38.92 | 37.45 | 38.76 | 40.23 | 41.60 | 43.82 | 43.92 | 44.18 | 44.93 | 45.93 | 0.00 | 0.00 | 0.00 | ||||||||
| Share price1, 3 | 293.53 | 256.70 | 270.36 | 293.25 | 211.27 | 243.95 | 234.40 | 227.65 | 199.42 | 160.91 | 157.56 | 161.55 | 166.29 | 169.85 | 161.18 | 148.92 | 141.10 | 142.01 | 139.74 | 149.42 | 148.54 | 126.71 | 139.47 | 142.34 | 143.43 | 145.61 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/S ratio4 | 7.01 | 6.33 | 6.75 | 7.34 | 5.20 | 6.02 | 5.79 | 5.61 | 4.89 | 3.95 | 3.87 | 4.01 | 4.19 | 4.36 | 4.30 | 3.84 | 3.51 | 3.41 | 3.19 | 3.40 | 3.36 | 2.82 | 3.04 | — | — | — | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Ecolab Inc. | — | 5.61 | 5.08 | 4.18 | 4.15 | 3.89 | 3.49 | 3.73 | 3.91 | 3.61 | 3.34 | 3.03 | 2.94 | 2.94 | 2.73 | 2.80 | 2.87 | 2.77 | 2.78 | — | — | — | — | — | — | — | ||||||||
| Linde plc | — | 5.56 | 4.83 | 4.85 | 4.73 | 3.46 | 3.74 | 4.10 | 4.51 | 5.23 | 6.38 | 3.86 | 4.01 | 3.83 | 3.76 | 3.85 | 3.48 | 3.33 | 3.26 | — | — | — | — | — | — | — | ||||||||
| Sherwin-Williams Co. | — | 3.79 | 3.50 | 3.40 | 3.25 | 2.72 | 2.95 | 2.93 | 2.61 | 2.37 | 2.33 | 1.97 | 2.37 | 2.15 | 2.50 | 2.66 | 2.61 | 2.51 | 2.46 | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (filing date: 2021-05-10), 10-Q (filing date: 2021-02-04), 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2021 Calculation
Sales per share
= (SalesQ2 2021
+ SalesQ1 2021
+ SalesQ4 2020
+ SalesQ3 2020)
÷ No. shares of common stock outstanding
= (2,502,000,000 + 2,375,200,000 + 2,320,100,000 + 2,065,200,000)
÷ 221,314,258 = 41.85
3 Closing price as at the filing date of Air Products & Chemicals Inc.’s Quarterly or Annual Report.
4 Q2 2021 Calculation
P/S ratio = Share price ÷ Sales per share
= 293.53 ÷ 41.85 = 7.01
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Air Products & Chemicals Inc.’s P/S ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level. |
Price to Book Value (P/BV)
Air Products & Chemicals Inc., historical P/BV calculation (quarterly data)
| Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | Dec 31, 2017 | Sep 30, 2017 | Jun 30, 2017 | Mar 31, 2017 | Dec 31, 2016 | Sep 30, 2016 | Jun 30, 2016 | Mar 31, 2016 | Dec 31, 2015 | Sep 30, 2015 | Jun 30, 2015 | Mar 31, 2015 | Dec 31, 2014 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 221,314,258 | 221,276,890 | 221,026,592 | 220,894,376 | 220,854,647 | 220,678,482 | 220,433,925 | 220,355,139 | 220,132,561 | 219,631,171 | 219,533,532 | 219,272,496 | 219,193,653 | 218,939,303 | 218,618,346 | 217,957,369 | 217,724,491 | 217,589,952 | 217,375,097 | 216,549,704 | 216,081,188 | 215,650,358 | 215,426,569 | 214,982,451 | 214,764,754 | 214,274,045 | ||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||||||
| Total Air Products shareholders’ equity (in thousands) | 12,726,200 | 12,683,600 | 12,079,800 | 11,659,300 | 11,371,900 | 11,556,000 | 11,053,600 | 11,386,100 | 11,165,700 | 10,882,900 | 10,857,500 | 10,486,000 | 10,580,800 | 10,215,300 | 10,086,200 | 9,412,400 | 9,317,400 | 7,161,500 | 7,079,600 | 7,045,400 | 6,916,600 | 7,367,100 | 7,249,000 | 7,586,000 | 7,332,500 | 7,351,500 | ||||||||
| Book value per share (BVPS)2 | 57.50 | 57.32 | 54.65 | 52.78 | 51.49 | 52.37 | 50.14 | 51.67 | 50.72 | 49.55 | 49.46 | 47.82 | 48.27 | 46.66 | 46.14 | 43.18 | 42.79 | 32.91 | 32.57 | 32.53 | 32.01 | 34.16 | 33.65 | 35.29 | 34.14 | 34.31 | ||||||||
| Share price1, 3 | 293.53 | 256.70 | 270.36 | 293.25 | 211.27 | 243.95 | 234.40 | 227.65 | 199.42 | 160.91 | 157.56 | 161.55 | 166.29 | 169.85 | 161.18 | 148.92 | 141.10 | 142.01 | 139.74 | 149.42 | 148.54 | 126.71 | 139.47 | 142.34 | 143.43 | 145.61 | ||||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||||||
| P/BV ratio4 | 5.10 | 4.48 | 4.95 | 5.56 | 4.10 | 4.66 | 4.67 | 4.41 | 3.93 | 3.25 | 3.19 | 3.38 | 3.44 | 3.64 | 3.49 | 3.45 | 3.30 | 4.31 | 4.29 | 4.59 | 4.64 | 3.71 | 4.14 | 4.03 | 4.20 | 4.24 | ||||||||
| Benchmarks | ||||||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||||||
| Ecolab Inc. | — | 10.38 | 9.70 | 8.71 | 9.47 | 6.36 | 5.99 | 6.46 | 7.03 | 6.46 | 6.12 | 5.56 | 5.39 | 5.47 | 4.96 | 5.25 | 5.55 | 5.38 | 5.31 | 4.72 | 5.40 | 5.13 | — | — | — | — | ||||||||
| Linde plc | — | 3.34 | 2.78 | 2.84 | 2.83 | 2.17 | 2.15 | 2.26 | 2.05 | 1.93 | 1.84 | 7.46 | 7.94 | 7.04 | 7.15 | 6.85 | 6.54 | 6.48 | 6.83 | 6.34 | 6.50 | 6.85 | — | — | — | — | ||||||||
| Sherwin-Williams Co. | — | 23.23 | 17.79 | 14.54 | 14.91 | 14.88 | 12.82 | 13.01 | 12.34 | 12.04 | 10.93 | 8.67 | 10.90 | 9.45 | 10.14 | 13.39 | 13.70 | 14.64 | 15.52 | 14.49 | 21.62 | 27.61 | — | — | — | — | ||||||||
Based on: 10-Q (filing date: 2021-05-10), 10-Q (filing date: 2021-02-04), 10-K (filing date: 2020-11-19), 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30).
1 Data adjusted for splits and stock dividends.
2 Q2 2021 Calculation
BVPS = Total Air Products shareholders’ equity ÷ No. shares of common stock outstanding
= 12,726,200,000 ÷ 221,314,258 = 57.50
3 Closing price as at the filing date of Air Products & Chemicals Inc.’s Quarterly or Annual Report.
4 Q2 2021 Calculation
P/BV ratio = Share price ÷ BVPS
= 293.53 ÷ 57.50 = 5.10
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. | Air Products & Chemicals Inc.’s P/BV ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level. |