Stock Analysis on Net

Linde plc (NASDAQ:LIN)

Common Stock Valuation Ratios (Price Multiples) 

Microsoft Excel

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).


Current Valuation Ratios

Linde plc, current price multiples

Microsoft Excel
Linde plc Sherwin-Williams Co. Chemicals Materials
Selected Financial Data
Current share price (P) $459.11
No. shares of common stock outstanding 472,911,618
Growth rate (g) 4.96%
 
Earnings per share (EPS) $13.88
Next year expected EPS $14.57
Operating profit per share $18.26
Sales per share $69.79
Book value per share (BVPS) $80.55
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 33.07 31.85 32.72 32.13
Price to next year expected earnings 31.51 21.53 30.22 29.12
Price-earnings-growth (PEG) 6.67 0.66 3.96 3.12
Price to operating profit (P/OP) 25.14 22.40 24.30 18.52
Price to sales (P/S) 6.58 3.70 5.39 4.39
Price to book value (P/BV) 5.70 21.08 7.18 5.99

Based on: 10-K (reporting date: 2024-12-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Linde plc, historical price multiples

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Price to earnings (P/E) 33.25 35.05 41.34 38.92 52.57
Price to operating profit (P/OP) 25.28 27.08 31.93 29.87 39.58
Price to sales (P/S) 6.61 6.61 5.14 4.84 4.83
Price to book value (P/BV) 5.73 5.47 4.28 3.38 2.78

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).

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. Linde plc P/E ratio decreased from 2022 to 2023 and from 2023 to 2024.
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. Linde plc P/OP ratio decreased from 2022 to 2023 and from 2023 to 2024.
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. Linde plc P/S ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Linde plc P/BV ratio increased from 2022 to 2023 and from 2023 to 2024.

Price to Earnings (P/E)

Linde plc, historical P/E calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 472,911,618 481,576,472 492,160,806 507,744,577 522,836,425
Selected Financial Data (US$)
Net income, Linde plc (in millions) 6,565 6,199 4,147 3,826 2,501
Earnings per share (EPS)2 13.88 12.87 8.43 7.54 4.78
Share price1, 3 461.55 451.20 348.37 293.24 251.49
Valuation Ratio
P/E ratio4 33.25 35.05 41.34 38.92 52.57
Benchmarks
P/E Ratio, Competitors5
Sherwin-Williams Co. 32.81 33.16 28.48 37.32 31.64
P/E Ratio, Sector
Chemicals 33.12 34.52 37.13 38.39 43.19
P/E Ratio, Industry
Materials 32.60 33.75 30.05 28.21 47.50

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 Data adjusted for splits and stock dividends.

2 2024 Calculation
EPS = Net income, Linde plc ÷ No. shares of common stock outstanding
= 6,565,000,000 ÷ 472,911,618 = 13.88

3 Closing price as at the filing date of Linde plc Annual Report.

4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 461.55 ÷ 13.88 = 33.25

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. Linde plc P/E ratio decreased from 2022 to 2023 and from 2023 to 2024.

Price to Operating Profit (P/OP)

Linde plc, historical P/OP calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 472,911,618 481,576,472 492,160,806 507,744,577 522,836,425
Selected Financial Data (US$)
Operating profit (in millions) 8,635 8,024 5,369 4,984 3,322
Operating profit per share2 18.26 16.66 10.91 9.82 6.35
Share price1, 3 461.55 451.20 348.37 293.24 251.49
Valuation Ratio
P/OP ratio4 25.28 27.08 31.93 29.87 39.58
Benchmarks
P/OP Ratio, Competitors5
Sherwin-Williams Co. 23.08 22.20 19.16 27.19 22.45
P/OP Ratio, Sector
Chemicals 24.61 25.58 27.35 28.96 31.65
P/OP Ratio, Industry
Materials 18.80 19.77 18.79 17.73 28.27

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 Data adjusted for splits and stock dividends.

2 2024 Calculation
Operating profit per share = Operating profit ÷ No. shares of common stock outstanding
= 8,635,000,000 ÷ 472,911,618 = 18.26

3 Closing price as at the filing date of Linde plc Annual Report.

4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 461.55 ÷ 18.26 = 25.28

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. Linde plc P/OP ratio decreased from 2022 to 2023 and from 2023 to 2024.

Price to Sales (P/S)

Linde plc, historical P/S calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 472,911,618 481,576,472 492,160,806 507,744,577 522,836,425
Selected Financial Data (US$)
Sales (in millions) 33,005 32,854 33,364 30,793 27,243
Sales per share2 69.79 68.22 67.79 60.65 52.11
Share price1, 3 461.55 451.20 348.37 293.24 251.49
Valuation Ratio
P/S ratio4 6.61 6.61 5.14 4.84 4.83
Benchmarks
P/S Ratio, Competitors5
Sherwin-Williams Co. 3.81 3.44 2.60 3.49 3.50
P/S Ratio, Sector
Chemicals 5.46 5.30 4.13 4.31 4.29
P/S Ratio, Industry
Materials 4.45 4.47 3.70 3.83 4.08

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 Data adjusted for splits and stock dividends.

2 2024 Calculation
Sales per share = Sales ÷ No. shares of common stock outstanding
= 33,005,000,000 ÷ 472,911,618 = 69.79

3 Closing price as at the filing date of Linde plc Annual Report.

4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 461.55 ÷ 69.79 = 6.61

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. Linde plc P/S ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Price to Book Value (P/BV)

Linde plc, historical P/BV calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 472,911,618 481,576,472 492,160,806 507,744,577 522,836,425
Selected Financial Data (US$)
Total Linde plc shareholders’ equity (in millions) 38,092 39,720 40,028 44,035 47,317
Book value per share (BVPS)2 80.55 82.48 81.33 86.73 90.50
Share price1, 3 461.55 451.20 348.37 293.24 251.49
Valuation Ratio
P/BV ratio4 5.73 5.47 4.28 3.38 2.78
Benchmarks
P/BV Ratio, Competitors5
Sherwin-Williams Co. 21.72 21.32 18.55 28.55 17.79
P/BV Ratio, Sector
Chemicals 7.27 6.83 5.31 4.70 3.84
P/BV Ratio, Industry
Materials 6.08 5.86 4.93 4.66 3.99

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 Data adjusted for splits and stock dividends.

2 2024 Calculation
BVPS = Total Linde plc shareholders’ equity ÷ No. shares of common stock outstanding
= 38,092,000,000 ÷ 472,911,618 = 80.55

3 Closing price as at the filing date of Linde plc Annual Report.

4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 461.55 ÷ 80.55 = 5.73

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 required rate of return and its actual rate of return. Linde plc P/BV ratio increased from 2022 to 2023 and from 2023 to 2024.