Question 1

What is Linde's P/B ratio?

Accepted Answer

Linde (LIN) P/B ratio is 6.2× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Linde?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Linde specifically, the relevant sector benchmark is the current sector median of 2.8×.

Question 5

Is Linde's P/B ratio high or low?

Accepted Answer

Linde's P/B ratio of 6.2× is above its own 5-year average of 4.8× and above the sector median of 2.8×. That places the current reading at the 96th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Linde's historical P/B ratio range?

Accepted Answer

In the available daily series, Linde (LIN) P/B ratio has ranged from a low of 1.4× in 2018 to a high of 7.8× in 2018. The 5-year average is 4.8× and the 5-year median is 4.8×.

Question 7

What was Linde's P/B ratio in 2025?

Accepted Answer

Linde (LIN) P/B ratio at the end of 2025 was 5.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Linde's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$199B	$38.2B	5.2×	-0.0×	Dec 31, 2025
2024	$199B	$38.1B	5.2×	+0.2×	Dec 31, 2024
2023	$199B	$39.7B	5.0×	+1.0×	Dec 31, 2023
2022	$161B	$40B	4.0×	+0.0×	Dec 31, 2022
2021	$177B	$44B	4.0×	+1.1×	Dec 31, 2021
2020	$138B	$47.3B	2.9×	+0.6×	Dec 31, 2020
2019	$114B	$49.1B	2.3×	+0.9×	Dec 31, 2019
2018	$71.5B	$51.6B	1.4×	-6.0×	Dec 31, 2018
2017	$44.4B	$6.02B	7.4×	+0.7×	Dec 31, 2017
2016	$33.5B	$5.02B	6.7×	+0.0×	Dec 31, 2016
2015	$29.2B	$4.39B	6.7×	-0.0×	Dec 31, 2015
2014	$37.7B	$5.62B	6.7×	+0.9×	Dec 31, 2014
2013	$38.3B	$6.61B	5.8×	+0.4×	Dec 31, 2013
2012	$32.5B	$6.06B	5.4×	-0.5×	Dec 31, 2012
2011	$32B	$5.49B	5.8×	+0.8×	Dec 31, 2011
2010	$29.2B	$5.79B	5.0×	+0.4×	Dec 31, 2010
2009	$24.7B	$5.32B	4.6×	+0.1×	Dec 31, 2009
2008	$18.3B	$4.01B	4.6×	-0.9×	Dec 31, 2008
2007	$28.1B	$5.14B	5.5×	+1.3×	Dec 31, 2007
2006	$19.2B	$4.55B	4.2×	-0.2×	Dec 31, 2006
2005	$17.1B	$3.9B	4.4×	+0.4×	Dec 31, 2005
2004	$14.3B	$3.61B	4.0×	-0.1×	Dec 31, 2004
2003	$12.5B	$3.09B	4.0×	+0.0×	Dec 31, 2003
2002	$9.39B	$2.34B	4.0×	—	Dec 31, 2002


Freeport-McMoRan (FCX)	4.4×
Vulcan Materials (VMC)	4.3×
Air Products and Chemicals (APD)	4.1×
Agnico Eagle Mines (AEM)	3.9×
CF Industries Holdings (CF)	3.7×
Steel Dynamics (STLD)	3.5×
Newmont (NEM)	3.4×
Martin Marietta Materials (MLM)	3.1×
CRH (CRH)	3.0×
PPG Industries (PPG)	3.0×
LyondellBasell (LYB)	2.6×
Corteva (CTVA)	2.3×
Builders FirstSource (BLDR)	2.3×
Albemarle (ALB)	2.1×
Dow (DOW)	2.0×
Nucor (NUE)	1.8×
H.B. Fuller (FUL)	1.7×
Eastman Chemical (EMN)	1.4×
Avient (AVNT)	1.4×
Ashland (ASH)	1.4×
DuPont de Nemours (DD)	1.3×
International Flavors & Fragrances (IFF)	1.3×
International Paper (IP)	1.3×
Stepan (SCL)	1.0×
Mosaic (MOS)	0.7×

P/B Ratio for Linde (LIN) 2002-2026

P/B Ratio daily chart for Linde (LIN)

Historical P/B Ratio for Linde (LIN) from 2002 to 2025

About P/B Ratio at Linde (LIN)

Linde P/B Ratio by Year

Linde P/B Ratio 2025: 5.2×

Linde P/B Ratio 2024: 5.2×

Linde P/B Ratio 2023: 5.0×

Linde P/B Ratio 2022: 4.0×

Linde P/B Ratio 2021: 4.0×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Linde (LIN) Key Financials