A Business at a Glance
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ITEM 1. BUSINESS Linde plc is a public limited company formed under the laws of Ireland with its principal offices in the United Kingdom and United States. Linde is the largest industrial gas company worldwide and is a major technological innovator in the industrial gases industry. Its primary products in its industrial gases business are atmospheric gases (oxygen, nitrogen, argon, and rare gases) and process gases (hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases, and acetylene). The company also designs and builds equipment that produces industrial gases and offers customers a wide range of gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants, and other types of plants. Linde serves a diverse group of industries including healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 34.0B | 34.0B | 33.0B | 32.9B | 33.4B | 30.8B |
| Net Income | 6.9B | 6.9B | 6.6B | 6.2B | 4.1B | 3.8B |
| EPS | $14.61 | $14.61 | $13.62 | $12.59 | $8.23 | $7.33 |
| Free Cash Flow | 5.1B | 5.1B | 4.9B | 5.5B | 5.7B | 6.6B |
| ROIC | 11.5% | 13.2% | 13.2% | 12.5% | 8.5% | 7.1% |
| Gross Margin | 48.8% | 48.8% | 48.1% | 46.8% | 41.7% | 43.0% |
| Debt/Equity | 0.71 | 0.71 | 0.57 | 0.49 | 0.45 | 0.32 |
| Dividends/Share | $5.95 | $6.00 | $5.56 | $5.10 | $4.68 | $4.24 |
| Operating Income | 8.9B | 8.9B | 8.6B | 8.0B | 5.4B | 5.0B |
| Operating Margin | 26.3% | 26.3% | 26.2% | 24.4% | 16.1% | 16.2% |
| ROE | 18.0% | 18.1% | 17.2% | 15.6% | 10.4% | 8.7% |
| Shares Outstanding | 472M | 472M | 482M | 492M | 504M | 522M |
LINDE PLC passes 6 of 9 quality checks, suggesting mixed fundamentals.
LINDE PLC trades at 34.8x trailing earnings, compared to its 15-year median P/E of 31.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 47.2x vs a median of 32.0x. The company's 5-year average ROIC is 10.9% with a gross margin of 45.7%. Total shareholder yield (dividends + buybacks) is 3.1%. At current prices, the estimated annualized return to fair value is +14.7%.
LINDE PLC (LIN) has a current P/E ratio of 34.8, compared to its historical median P/E of 31.7. The stock is currently considered Fair based on its historical valuation range.
LINDE PLC (LIN) has a 5-year average return on invested capital (ROIC) of 10.9%. This indicates solid capital allocation.
LINDE PLC (LIN) has a market capitalization of $240.3B. It is classified as a mega-cap stock.
Yes, LINDE PLC (LIN) pays a dividend with a trailing twelve-month yield of 1.17%. The company also returns capital through share buybacks, with a buyback yield of 1.92%.
Based on historical P/E analysis, LINDE PLC (LIN) appears fair. The current P/E of 34.8 is 10% above its historical median of 31.7. The estimated fair value CAGR (P/E method) is 15.3%.
LINDE PLC (LIN) operates in the Industrial Inorganic Chemicals industry, within the Materials sector.
LINDE PLC (LIN) reported annual revenue of $34.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
LINDE PLC (LIN) has a net profit margin of 20.3%. This is a strong margin indicating high profitability.
LINDE PLC (LIN) generated $5.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LINDE PLC (LIN) has a debt-to-equity ratio of 0.71. This indicates moderate leverage.
LINDE PLC (LIN) reported earnings per share (EPS) of $14.61 in its most recent fiscal year.
LINDE PLC (LIN) has a return on equity (ROE) of 18.1%. This indicates the company generates strong returns for shareholders.
LINDE PLC (LIN) has a 5-year average gross margin of 45.7%. This indicates decent pricing power.
The Ledger Terminal provides 10 years of financial data for LINDE PLC (LIN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LINDE PLC (LIN) has a book value per share of $81.00, based on its most recent annual SEC filing.