Price to Book Value (P/BV)
since 2005
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Linde plc pages available for free this week:
- Income Statement
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Calculation
Linde plc, P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Linde plc shareholders’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 25, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2022 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2021 | = | ÷ | = | ÷ | |||||||
| Mar 2, 2020 | = | ÷ | = | ÷ | |||||||
| Mar 18, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2018 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Linde plc Annual Report.
The price-to-book value (P/BV) ratio exhibited fluctuating behavior over the analyzed period, spanning from 2006 to 2026. Initially, the ratio demonstrated relative stability, followed by a period of increase, and then a significant shift in later years.
- Initial Period (2006-2008)
- From 2006 to 2008, the P/BV ratio ranged between 4.34 and 5.13. This suggests a generally consistent valuation relative to book value during this timeframe. A slight increase is observable from 4.54 in 2006 to 5.13 in 2008, indicating a growing investor confidence or potentially market optimism.
- Volatility and Subsequent Decline (2009-2015)
- The period between 2009 and 2015 showed more volatility. The ratio decreased to 4.54 in 2009, then increased again, peaking at 6.83 in 2017. This fluctuation likely reflects responses to economic conditions and company-specific performance. The ratio remained relatively high, generally above 6.60, from 2014 through 2017.
- Significant Shift (2019-2023)
- A dramatic decrease in the P/BV ratio occurred in 2019, falling to 1.65. This substantial decline suggests a significant re-evaluation of the company’s worth relative to its book value, potentially due to changes in investor sentiment or specific company events. The ratio then experienced a recovery, increasing steadily from 2.15 in 2020 to 4.28 in 2023, indicating a gradual restoration of investor confidence.
- Recent Trend (2024-2026)
- The most recent years, 2024 through 2026, show a continued upward trend in the P/BV ratio, rising from 5.47 to 6.16. This suggests that the market increasingly values the company’s assets and future prospects relative to its book value. The ratio reached its highest point in the analyzed period at 6.16 in 2026.
Overall, the P/BV ratio demonstrates a complex pattern of fluctuations, with a notable shift in valuation beginning in 2019. The recent upward trend suggests a positive market perception of the company’s value.
Comparison to Competitors
Linde plc, P/BV, long-term trends, comparison to competitors
| Linde plc | Sherwin-Williams Co. | |
|---|---|---|
| Feb 25, 2026 | ||
| Feb 26, 2025 | ||
| Feb 28, 2024 | ||
| Feb 28, 2023 | ||
| Feb 28, 2022 | ||
| Mar 1, 2021 | ||
| Mar 2, 2020 | ||
| Mar 18, 2019 | ||
| Feb 28, 2018 | ||
| Mar 1, 2017 | ||
| Feb 24, 2016 | ||
| Feb 25, 2015 | ||
| Feb 25, 2014 | ||
| Feb 27, 2013 | ||
| Feb 29, 2012 | ||
| Feb 23, 2011 | ||
| Feb 24, 2010 | ||
| Feb 25, 2009 | ||
| Feb 27, 2008 | ||
| Feb 28, 2007 | ||
| Mar 1, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Chemicals)
Linde plc, P/BV, long-term trends, comparison to sector (chemicals)
| Linde plc | Chemicals | |
|---|---|---|
| Feb 25, 2026 | ||
| Feb 26, 2025 | ||
| Feb 28, 2024 | ||
| Feb 28, 2023 | ||
| Feb 28, 2022 | ||
| Mar 1, 2021 | ||
| Mar 2, 2020 | ||
| Mar 18, 2019 | ||
| Feb 28, 2018 | ||
| Mar 1, 2017 | ||
| Feb 24, 2016 | ||
| Feb 25, 2015 | ||
| Feb 25, 2014 | ||
| Feb 27, 2013 | ||
| Feb 29, 2012 | ||
| Feb 23, 2011 | ||
| Feb 24, 2010 | ||
| Feb 25, 2009 | ||
| Feb 27, 2008 | ||
| Feb 28, 2007 | ||
| Mar 1, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
Linde plc, P/BV, long-term trends, comparison to industry (materials)
| Linde plc | Materials | |
|---|---|---|
| Feb 25, 2026 | ||
| Feb 26, 2025 | ||
| Feb 28, 2024 | ||
| Feb 28, 2023 | ||
| Feb 28, 2022 | ||
| Mar 1, 2021 | ||
| Mar 2, 2020 | ||
| Mar 18, 2019 | ||
| Feb 28, 2018 | ||
| Mar 1, 2017 | ||
| Feb 24, 2016 | ||
| Feb 25, 2015 | ||
| Feb 25, 2014 | ||
| Feb 27, 2013 | ||
| Feb 29, 2012 | ||
| Feb 23, 2011 | ||
| Feb 24, 2010 | ||
| Feb 25, 2009 | ||
| Feb 27, 2008 | ||
| Feb 28, 2007 | ||
| Mar 1, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).