Stock Analysis on Net

Linde plc (NASDAQ:LIN)

Market Value Added (MVA)

Microsoft Excel

Market value added (MVA) is the difference between a firm fair value and its invested capital. MVA is a measure of the value a company has created in excess of the resources already committed to the enterprise.


MVA

Linde plc, MVA calculation

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Fair value of debt and finance lease liabilities1 20,661 18,243 16,267 14,558 17,025
Operating lease liability 782 749 721 833 906
Market value of common equity 218,272 217,287 171,454 148,891 131,488
Redeemable noncontrolling interests 13 13 13 13 13
Noncontrolling interests 1,383 1,362 1,346 1,393 2,252
Market (fair) value of Linde 241,111 237,654 189,801 165,688 151,684
Less: Invested capital2 74,884 73,409 72,341 72,560 78,771
MVA 166,227 164,245 117,460 93,128 72,913

Based on: 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).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Linde plc market (fair) value less invested capital. Linde plc MVA increased from 2022 to 2023 and from 2023 to 2024.

MVA Spread Ratio

Linde plc, MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Market value added (MVA)1 166,227 164,245 117,460 93,128 72,913
Invested capital2 74,884 73,409 72,341 72,560 78,771
Performance Ratio
MVA spread ratio3 221.98% 223.74% 162.37% 128.35% 92.56%
Benchmarks
MVA Spread Ratio, Competitors4
Sherwin-Williams Co. 492.73% 449.28% 296.84% 418.72% 389.31%

Based on: 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).

1 MVA. See details »

2 Invested capital. See details »

3 2024 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 166,227 ÷ 74,884 = 221.98%

4 Click competitor name to see calculations.

Performance ratio Description The company
MVA spread ratio The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. Linde plc MVA spread ratio improved from 2022 to 2023 but then slightly deteriorated from 2023 to 2024.

MVA Margin

Linde plc, MVA margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Market value added (MVA)1 166,227 164,245 117,460 93,128 72,913
Sales 33,005 32,854 33,364 30,793 27,243
Performance Ratio
MVA margin2 503.64% 499.92% 352.06% 302.43% 267.64%
Benchmarks
MVA Margin, Competitors3
Sherwin-Williams Co. 356.40% 319.89% 232.48% 331.88% 328.41%

Based on: 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).

1 MVA. See details »

2 2024 Calculation
MVA margin = 100 × MVA ÷ Sales
= 100 × 166,227 ÷ 33,005 = 503.64%

3 Click competitor name to see calculations.

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Linde plc MVA margin ratio improved from 2022 to 2023 and from 2023 to 2024.