Linde plc (LIN)

Linde plc operates as an industrial gas company worldwide. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases, and acetylene. It also engages in the design and construction of turnkey process plants for third-party customers, as well as for its gas businesses, including air separation, hydrogen, synthesis, olefin, and natural gas plants. The company serves the healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics industries. It operates in the United States, Brazil, Mexico, Canada, Germany, the United Kingdom, Eastern Europe, China, Australia, South Korea, and India. Linde plc was founded in 1879 and is based in Woking, the United Kingdom.

Symbol: LIN
Exchange: Nasdaq
Sector: Basic Materials
Industry: Specialty Chemicals
Market cap: $216.86B
52 week range: 387.78 - 548.2

Valuation

Share price: $469.45 (close of 2026-10-01)
P/E (TTM): 30.19x
Price to book: 5.34x
Price to free cash flow: 43.59x
Enterprise value: $239.97B
Book value per share: $88.11

Price performance

Period	Change
1 day	-1.10%
5 days	+0.28%
1 month	-3.56%
3 months	-12.01%
6 months	-4.94%
Year to date	+10.10%
1 year	+0.57%
3 years	+26.07%
5 years	+57.61%
10 years	+288.51%
All time	+5812.47%

Members of Congress who disclosed LIN trades

Jefferson Shreve · Robert Bresnahan · Thomas Kean · Gilbert Ray Cisneros · Kevin Hern · Lisa McClain · Val Hoyle · Alan Armstrong · Dan Newhouse · George Whitesides · Jonathan Jackson

Super investors holding LIN

Stephen Mandel (Lone Pine Capital LLC) · John Armitage (Egerton Capital (UK) LLP) · George Soros (Soros Fund Mgmt) · AKO Capital (AKO Capital LLP)

Profitability and growth

Return on equity: 17.36%
Return on invested capital: 11.05%
Return on assets: 7.95%
Return on capital employed: 12.46%
Gross margin: 32.82%
Net margin: 20.30%
EBITDA margin: 37.33%
Revenue growth: 2.97%
Net income growth: 5.07%
Free cash flow growth: 3.31%

Cash flow and balance sheet

Free cash flow yield (TTM): 2.29%
Current ratio: 0.88x
Net debt to EBITDA: 1.70x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $33.99B
Cost of revenue: $22.83B
Gross profit: $11.15B
EBITDA: $12.69B
Net income: $6.90B
Earnings per share: $14.69
Research and development: $147.00M
Shares outstanding: 469.49M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$33.99B	$11.15B	$6.90B	$14.69
2024-12-31	$33.01B	$10.79B	$6.57B	$13.71
2023-12-31	$32.85B	$10.13B	$6.20B	$12.70
2022-12-31	$33.36B	$7.32B	$4.15B	$8.30
2021-12-31	$30.79B	$6.97B	$3.83B	$7.40
2020-12-31	$27.24B	$5.36B	$2.50B	$4.75
2019-12-31	$28.23B	$4.97B	$2.29B	$4.22
2018-12-31	$14.84B	$6.23B	$4.38B	$13.26
2017-12-31	$11.36B	$3.23B	$1.25B	$4.36
2016-12-31	$10.53B	$2.99B	$1.50B	$5.25

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	32.82%	20.30%	17.36%	11.05%
2024-12-31	32.69%	19.89%	16.63%	11.59%
2023-12-31	30.85%	18.87%	15.09%	10.95%
2022-12-31	21.95%	12.43%	10.02%	7.19%
2021-12-31	22.65%	12.42%	8.42%	6.57%
2020-12-31	19.69%	9.18%	5.05%	3.97%
2019-12-31	17.62%	8.09%	4.43%	3.47%
2018-12-31	42.01%	29.53%	7.68%	6.67%
2017-12-31	28.46%	10.98%	19.15%	10.19%
2016-12-31	28.39%	14.24%	27.57%	34.49%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$5.06B	$20.68B
2024-12-31	$4.85B	$15.34B
2023-12-31	$4.66B	$13.40B
2022-12-31	$5.44B	$12.20B
2021-12-31	$2.82B	$11.34B
2020-12-31	$3.75B	$12.15B
2019-12-31	$2.70B	$10.69B
2018-12-31	$4.47B	$12.29B
2017-12-31	$617.00M	$7.78B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$5.09B	$164.00M
2024-12-31	$4.93B	$160.00M
2023-12-31	$5.52B	$141.00M
2022-12-31	$5.69B	$107.00M
2021-12-31	$6.64B	$128.00M
2020-12-31	$4.03B	$133.00M
2019-12-31	$2.44B	$95.00M
2018-12-31	$1.77B	$62.00M
2017-12-31	$1.73B	$59.00M
2016-12-31	$1.32B	$39.00M