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Linde (LIN) Cyclically Adjusted PB Ratio : 6.61 (As of Jul. 03, 2025)


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What is Linde Cyclically Adjusted PB Ratio?

As of today (2025-07-03), Linde's current share price is $475.58. Linde's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2025 was $71.92. Linde's Cyclically Adjusted PB Ratio for today is 6.61.

The historical rank and industry rank for Linde's Cyclically Adjusted PB Ratio or its related term are showing as below:

LIN' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 4.92   Med: 6.67   Max: 8.27
Current: 6.63

During the past years, Linde's highest Cyclically Adjusted PB Ratio was 8.27. The lowest was 4.92. And the median was 6.67.

LIN's Cyclically Adjusted PB Ratio is ranked worse than
89.4% of 1226 companies
in the Chemicals industry
Industry Median: 1.62 vs LIN: 6.63

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Linde's adjusted book value per share data for the three months ended in Mar. 2025 was $80.697. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $71.92 for the trailing ten years ended in Mar. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Linde Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Linde's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Linde Cyclically Adjusted PB Ratio Chart

Linde Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.02 7.41 5.90 6.56 6.02

Linde Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.14 6.59 7.00 6.02 6.47

Competitive Comparison of Linde's Cyclically Adjusted PB Ratio

For the Specialty Chemicals subindustry, Linde's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Linde's Cyclically Adjusted PB Ratio Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Linde's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Linde's Cyclically Adjusted PB Ratio falls into.


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Linde Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Linde's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=475.58/71.92
=6.61

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Linde's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2025 is calculated as:

For example, Linde's adjusted Book Value per Share data for the three months ended in Mar. 2025 was:

Adj_Book=Book Value per Share/CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=80.697/134.9266*134.9266
=80.697

Current CPI (Mar. 2025) = 134.9266.

Linde Quarterly Data

Book Value per Share CPI Adj_Book
201506 17.328 100.684 23.221
201509 14.969 100.392 20.118
201512 15.407 99.792 20.831
201603 17.135 100.470 23.011
201606 18.020 101.688 23.910
201609 18.378 101.861 24.344
201612 17.624 101.863 23.345
201703 19.376 102.862 25.416
201706 20.302 103.349 26.505
201709 21.851 104.136 28.312
201712 20.985 104.011 27.222
201803 22.160 105.290 28.398
201806 20.958 106.317 26.598
201809 21.650 106.507 27.427
201812 94.284 105.998 120.016
201903 94.126 107.251 118.415
201906 93.403 108.070 116.615
201909 91.015 108.329 113.361
201912 91.833 108.420 114.284
202003 85.260 108.902 105.635
202006 86.678 108.767 107.525
202009 87.976 109.815 108.094
202012 90.421 109.897 111.015
202103 88.830 111.754 107.249
202106 88.645 114.631 104.339
202109 86.475 115.734 100.815
202112 86.567 117.630 99.296
202203 85.366 121.301 94.955
202206 79.608 125.017 85.918
202209 76.111 125.227 82.007
202212 81.282 125.222 87.581
202303 81.529 127.348 86.381
202306 81.794 128.729 85.732
202309 80.220 129.860 83.350
202312 82.331 129.419 85.834
202403 80.780 131.776 82.711
202406 79.956 132.554 81.387
202409 82.269 133.029 83.443
202412 80.492 133.157 81.562
202503 80.697 134.927 80.697

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Linde  (NAS:LIN) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Linde Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of Linde's Cyclically Adjusted PB Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Linde Business Description

Industry
Address
10 Riverview Drive, Danbury, CT, USA, 06810
Linde is the largest industrial gas supplier in the world, with operations in over 100 countries. The firm's main products are atmospheric gases (including oxygen, nitrogen, and argon) and process gases (including hydrogen, carbon dioxide, and helium), as well as equipment used in industrial gas production. Linde serves a wide variety of end markets, including chemicals, manufacturing, healthcare, and steelmaking. Linde generated approximately $33 billion in revenue in 2024.
Executives
Sean Durbin officer: Executive VP, EMEA C/O LINDE PLC, THE PRIESTLEY CENTRE 10 PRIESTLEY ROAD, GUILDFORD, SURREY X0 GU2 XY7
David P Strauss officer: Senior VP & Chief HR Officer 10 RIVERVIEW DRIVE, DANBURY CT 06810
Guillermo Bichara officer: Senior VP& Chief Legal Officer 39 OLD RIDGEBURY ROAD, DANBURY CT 06810-5113
Juergen Nowicki officer: Executive VP, Engineering C/O LINDE PLC, THE PRIESTLEY CENTRE, 10 PRIESTLEY ROAD, GUILDFORD, SURREY X0 GU2 7XY
Robert L Wood director C/O DOW CHEMICAL CO, 2030 DOW CENTER, MIDLAND MI 48674
John Panikar officer: Executive VP, APAC 39 OLD RIDGEBURY ROAD, DANBURY CT 06810-5113
Oliver Pfann officer: Senior Vice President, EMEA FORGE, 43 CHURCH STREET WEST, WOKING SURREY X0 GU216HT
Sanjiv Lamba officer: Chief Operating Officer THE PRIESTLEY CENTRE, 10 PRIESTLEY RD, SURREY RESEARCH PARK, GUILDFORD, SURREY X0 GU2 7XY
Matthew J White officer: Chief Financial Officer C/O PRAXAIR, INC., 39 OLD RIDGEBURY ROAD, DANBURY CT 12533
Stephen F Angel director, officer: Chief Executive Officer 39 OLD RIDGEBURY ROAD, DANBURY CT 06810-5113
Hugh Grant director C/O PPG INDUSTRIES, INC., 1 PPG PLACE, PITTSBURGH PA 15272
Kelcey E Hoyt officer: Principal Accounting Officer 39 OLD RIDGEBURY ROAD, DANBURY CT 06810-5113
Andreas Opfermann officer: Executive VP, Americas C/O LINDE, THE PRIESTLEY CENTRE, 10 PRIESTLEY ROAD, GUILDFORD, SURREY X0 GU2 7XY
Franz Fehrenbach director THE PRIESTLEY CENTRE, 10 PRIESTLEY ROAD, THE SURREY RESEARCH PARK, GUILDFORD, SURREY X0 GU2 7XY
Mr. Franz Fehrenbach Director