Linde (BUD:LINDEPLC) Cyclically Adjusted Book per Share : Ft16,996.30 (As of Mar. 2024)

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What is Linde Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and 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 for the three months ended in Mar. 2024 was Ft29,940.697. 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 Ft16,996.30 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Linde's average Cyclically Adjusted Book Growth Rate was 12.80% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 18.60% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 22.40% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 14.90% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Linde was 27.40% per year. The lowest was 2.80% per year. And the median was 9.20% per year.

As of today (2024-06-20), Linde's current stock price is Ft121430.00. Linde's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was Ft16,996.30. Linde's Cyclically Adjusted PB Ratio of today is 7.14.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Linde was 8.27. The lowest was 4.92. And the median was 6.78.

Linde Cyclically Adjusted Book per Share Historical Data

The historical data trend for Linde's Cyclically Adjusted Book per Share 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 Book per Share Chart

Linde Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cyclically Adjusted Book per Share

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15,107.70

22,217.60

18,502.30

Linde Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Cyclically Adjusted Book per Share	Get a 7-Day Free Trial															19,684.90	19,000.90	20,046.50	18,502.30	16,996.30

Competitive Comparison of Linde's Cyclically Adjusted Book per Share

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.

Linde Cyclically Adjusted Book per Share Calculation

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, Linde's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book	=	Book Value per Share	/	CPI of Mar. 2024 (Change)	*	Current CPI (Mar. 2024)
	=	29940.697	/	131.7762	*	131.7762
	=	29,940.697

Current CPI (Mar. 2024) = 131.7762.

Linde Quarterly Data

	Book Value per Share	CPI	Adj_Book
201406	8,771.393	100.560	11,494.298
201409	8,334.561	100.428	10,936.183
201412	7,205.014	99.070	9,583.650
201503	6,451.030	99.621	8,533.255
201506	6,422.553	100.684	8,405.908
201509	5,548.367	100.392	7,282.915
201512	5,710.357	99.792	7,540.546
201603	6,350.981	100.470	8,329.898
201606	6,679.178	101.688	8,655.454
201609	6,811.871	101.861	8,812.426
201612	6,532.123	101.863	8,450.378
201703	7,181.593	102.862	9,200.299
201706	7,525.017	103.349	9,594.841
201709	8,098.898	104.136	10,248.580
201712	7,777.965	104.011	9,854.243
201803	8,213.368	105.290	10,279.529
201806	7,767.955	106.317	9,628.126
201809	8,024.358	106.507	9,928.196
201812	34,945.781	105.998	43,444.467
201903	34,887.338	107.251	42,865.262
201906	34,619.294	108.070	42,213.566
201909	33,734.216	108.329	41,035.645
201912	34,037.573	108.420	41,370.023
202003	31,601.316	108.902	38,239.155
202006	32,126.658	108.767	38,922.810
202009	32,607.991	109.815	39,129.090
202012	33,514.192	109.897	40,186.547
202103	32,924.340	111.754	38,823.030
202106	32,855.644	114.631	37,769.685
202109	32,051.386	115.734	36,494.020
202112	32,085.634	117.630	35,944.410
202203	31,640.354	121.301	34,372.723
202206	29,506.366	125.017	31,101.714
202209	28,210.344	125.227	29,685.825
202212	30,126.788	125.222	31,703.694
202303	30,218.500	127.348	31,269.320
202306	30,316.495	128.729	31,034.202
202309	29,733.175	129.860	30,172.031
202312	30,515.435	129.419	31,071.138
202403	29,940.697	131.776	29,940.697

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

Linde (BUD:LINDEPLC) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

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 Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio	=	Share Price	/	Cyclically Adjusted Book per Share
	=	121430.00	/	16996.3
	=	7.14

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Linde was 8.27. The lowest was 4.92. And the median was 6.78.

Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.

Linde Cyclically Adjusted Book per Share Related Terms

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

Linde (BUD:LINDEPLC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Linde PLC (BUD:LINDEPLC) » Definitions » Cyclically Adjusted Book per Share

Comparable Companies

Traded in Other Exchanges

LIN:USA 0M2B:UK LIN:Germany LIN:Germany LIN:Germany LIN:Germany LIN:Bulgaria LINI:Austria

Address

10 Riverview Drive, Danbury, CT, USA, 06810

Website

https://www.linde.com

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 and $5.4 billion in GAAP operating profit in 2022.

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