Price to Book Value (P/BV)
since 2005
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Sherwin-Williams Co. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
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Calculation
Sherwin-Williams Co., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Shareholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 19, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 7, 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 Sherwin-Williams Co. Annual Report.
The price-to-book value (P/BV) ratio exhibits considerable fluctuation over the observed period, spanning from 2006 to 2026. Initially, the ratio demonstrates an increasing trend, followed by periods of volatility and subsequent stabilization, then a final increase. A detailed examination reveals distinct phases in the ratio’s behavior.
- Initial Growth & Volatility (2006-2009)
- From 2006 to 2009, the P/BV ratio increased from 3.40 to 4.49, then experienced a decline to 3.37. This initial period suggests a growing market valuation relative to book value, followed by a correction potentially influenced by broader economic conditions, particularly evident in 2008 and 2009.
- Recovery & Expansion (2010-2013)
- The period between 2010 and 2013 shows a strong recovery and expansion of the P/BV ratio, rising from 4.73 to a peak of 9.32. This indicates increasing investor confidence and a willingness to pay a premium for the company’s net asset value. The increase in share price outpaced the growth in book value per share during this timeframe.
- Peak & Subsequent Correction (2014-2016)
- The P/BV ratio reached its highest point in 2014 at 27.40, a substantial increase from prior years. However, this was followed by a significant correction in 2015 and 2016, decreasing to 27.61 and then 15.52 respectively. This suggests a potential overvaluation in 2014, followed by a market reassessment. The decline in book value per share in 2015 contributed to this correction.
- Stabilization & Renewed Growth (2017-2026)
- From 2017 to 2026, the P/BV ratio demonstrates a period of relative stabilization with a general upward trend. It fluctuates between approximately 10 and 22, with a final value of 19.27 in 2026. The ratio experienced a peak in 2022 at 28.55, followed by a decrease, indicating some volatility but overall maintaining a higher valuation compared to the earlier years of the observation period. Book value per share generally increased during this period, supporting the higher P/BV ratio.
Overall, the P/BV ratio demonstrates a dynamic relationship between share price and book value per share. The observed fluctuations suggest sensitivity to market conditions, investor sentiment, and the company’s underlying financial performance. The latter half of the period indicates a sustained, albeit fluctuating, higher valuation compared to the earlier years.
Comparison to Competitors
Sherwin-Williams Co., P/BV, long-term trends, comparison to competitors
| Sherwin-Williams Co. | Linde plc | |
|---|---|---|
| Feb 19, 2026 | ||
| Feb 20, 2025 | ||
| Feb 20, 2024 | ||
| Feb 22, 2023 | ||
| Feb 17, 2022 | ||
| Feb 19, 2021 | ||
| Feb 21, 2020 | ||
| Feb 22, 2019 | ||
| Feb 23, 2018 | ||
| Feb 22, 2017 | ||
| Feb 24, 2016 | ||
| Feb 25, 2015 | ||
| Feb 27, 2014 | ||
| Feb 28, 2013 | ||
| Feb 23, 2012 | ||
| Feb 23, 2011 | ||
| Feb 24, 2010 | ||
| Feb 24, 2009 | ||
| Feb 28, 2008 | ||
| Feb 28, 2007 | ||
| Mar 7, 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)
Sherwin-Williams Co., P/BV, long-term trends, comparison to sector (chemicals)
| Sherwin-Williams Co. | Chemicals | |
|---|---|---|
| Feb 19, 2026 | ||
| Feb 20, 2025 | ||
| Feb 20, 2024 | ||
| Feb 22, 2023 | ||
| Feb 17, 2022 | ||
| Feb 19, 2021 | ||
| Feb 21, 2020 | ||
| Feb 22, 2019 | ||
| Feb 23, 2018 | ||
| Feb 22, 2017 | ||
| Feb 24, 2016 | ||
| Feb 25, 2015 | ||
| Feb 27, 2014 | ||
| Feb 28, 2013 | ||
| Feb 23, 2012 | ||
| Feb 23, 2011 | ||
| Feb 24, 2010 | ||
| Feb 24, 2009 | ||
| Feb 28, 2008 | ||
| Feb 28, 2007 | ||
| Mar 7, 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)
Sherwin-Williams Co., P/BV, long-term trends, comparison to industry (materials)
| Sherwin-Williams Co. | Materials | |
|---|---|---|
| Feb 19, 2026 | ||
| Feb 20, 2025 | ||
| Feb 20, 2024 | ||
| Feb 22, 2023 | ||
| Feb 17, 2022 | ||
| Feb 19, 2021 | ||
| Feb 21, 2020 | ||
| Feb 22, 2019 | ||
| Feb 23, 2018 | ||
| Feb 22, 2017 | ||
| Feb 24, 2016 | ||
| Feb 25, 2015 | ||
| Feb 27, 2014 | ||
| Feb 28, 2013 | ||
| Feb 23, 2012 | ||
| Feb 23, 2011 | ||
| Feb 24, 2010 | ||
| Feb 24, 2009 | ||
| Feb 28, 2008 | ||
| Feb 28, 2007 | ||
| Mar 7, 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).