LINDE PLC LIN

Healthcare SIC 2810 - Industrial Inorganic Chemicals NAICS Manufacturing › Chemical Manufacturing › Basic Chemical Manufacturing derived Nasdaq

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.

Last close 508.83 2026-10-23
Market cap $234.56B 2026-06-30 share count
52-week range 387.78 - 548.20

Valuation FY2025 figures against the last close

P/S6.9x
P/E34.8x
P/FCF46.1x
EV/EBITDA20.7x
Dividend yield1.2%
Diluted EPS14.61

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • U.S.
  • Other – non-U.S.
  • China
  • Germany
  • United Kingdom
  • Mexico
  • Brazil
  • Australia
Revenue by geography, 8 categories over 3 years. The same figures are in the table below. FY2025 U.S., FY2025: 12.2B (35.8%) 36% U.S. Other – non-U.S., FY2025: 11.3B (33.1%) 33% Other – non-U.S. China, FY2025: 2.6B (7.7%) 8% China Germany, FY2025: 2.4B (7.2%) 7% Germany United Kingdom, FY2025: 1.5B (4.4%) 4% Mexico, FY2025: 1.4B (4.1%) 4% Brazil, FY2025: 1.3B (3.9%) 4% Australia, FY2025: 1.3B (3.8%) 4% FY2024 U.S., FY2024: 11.5B (34.8%) 35% Other – non-U.S., FY2024: 10.8B (32.9%) 33% China, FY2024: 2.6B (8.0%) 8% Germany, FY2024: 2.5B (7.6%) 8% United Kingdom, FY2024: 1.5B (4.7%) 5% Mexico, FY2024: 1.3B (4.1%) 4% Brazil, FY2024: 1.3B (3.8%) 4% Australia, FY2024: 1.4B (4.1%) 4% FY2023 U.S., FY2023: 10.6B (32.2%) 32% Other – non-U.S., FY2023: 11.5B (34.9%) 35% China, FY2023: 2.6B (7.9%) 8% Germany, FY2023: 2.8B (8.6%) 9% United Kingdom, FY2023: 1.5B (4.6%) 5% Mexico, FY2023: 1.3B (3.9%) 4% Brazil, FY2023: 1.3B (4.0%) 4% Australia, FY2023: 1.3B (4.0%) 4%
Region FY2025FY2024FY2023
U.S. $12.18B $11.50B $10.57B
Other – non-U.S. $11.26B $10.85B $11.47B
China $2.60B $2.65B $2.58B
Germany $2.43B $2.51B $2.83B
United Kingdom $1.51B $1.54B $1.51B
Mexico $1.39B $1.35B $1.29B
Brazil $1.32B $1.26B $1.30B
Australia $1.29B $1.35B $1.30B

As the company reported it, from the “Segment Information - Geographic Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Americas
  • Emea
  • Apac
  • Engineering
  • Other
Revenue by segment, 5 categories over 3 years. The same figures are in the table below. FY2025 Americas, FY2025: 15.2B (44.7%) 45% Americas Emea, FY2025: 8.5B (25.2%) 25% Emea Apac, FY2025: 6.7B (19.6%) 20% Apac Engineering, FY2025: 2.2B (6.6%) 7% Other, FY2025: 1.3B (3.9%) 4% Other FY2024 Americas, FY2024: 14.4B (43.8%) 44% Emea, FY2024: 8.4B (25.3%) 25% Apac, FY2024: 6.6B (20.1%) 20% Engineering, FY2024: 2.3B (7.0%) 7% Other, FY2024: 1.3B (3.8%) 4% FY2023 Americas, FY2023: 14.3B (43.5%) 44% Emea, FY2023: 8.5B (26.0%) 26% Apac, FY2023: 6.6B (20.0%) 20% Engineering, FY2023: 2.2B (6.6%) 7% Other, FY2023: 1.3B (3.9%) 4%
Segment FY2025FY2024FY2023
Americas $15.21B $14.44B $14.30B
Emea $8.55B $8.35B $8.54B
Apac $6.66B $6.63B $6.56B
Engineering $2.25B $2.32B $2.16B
Other $1.32B $1.26B $1.29B

As the company reported it, from the “Segment Information - Reportable Segments (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $33.99B$33.01B$32.85B$33.36B$30.79B$27.24B$28.23B$14.84B$11.36B$10.53B
R&D $147.0M$150.0M$146.0M$143.0M$143.0M$152.0M$184.0M$113.0M$93.0M$92.0M
SG&A $3.43B$3.34B$3.29B$3.11B$3.19B$3.19B$3.46B$1.63B$1.21B$1.15B
Operating income $8.92B$8.63B$8.02B$5.37B$4.98B$3.32B$2.93B$5.25B$2.44B$2.25B
Interest expense $255.0M$256.0M$200.0M$63.0M$77.0M$115.0M————
Pre-tax income $8.90B$8.57B$7.99B$5.54B$5.10B$3.38B$2.93B$5.05B$2.29B$2.05B
Income tax $1.99B$2.00B$1.81B$1.43B$1.26B$847.0M$769.0M$817.0M$1.03B$551.0M
Net income $6.90B$6.57B$6.20B$4.15B$3.83B$2.50B$2.29B$4.38B$1.25B$1.50B
EPS, basic 14.6913.7112.708.307.404.754.2213.264.365.25
EPS, diluted 14.6113.6212.598.237.334.714.1913.114.325.21
Shares, diluted (wtd. avg.) 472.2M482.1M492.3M504.0M521.9M531.2M545.2M334.1M289.1M287.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $5.06B$4.85B$4.66B$5.44B$2.82B$3.75B$2.70B$4.47B$617.0M$524.0M
Receivables $4.97B$4.62B$4.72B$4.56B$4.50B$4.17B$4.32B$4.30B$1.71B—
Inventory $2.06B$1.95B$2.12B$1.98B$1.73B$1.73B$1.70B$1.65B$614.0M—
Total current assets $13.32B$12.95B$12.62B$13.05B$10.16B$10.92B$10.35B$17.27B$3.29B—
Property, plant and equipment $28.26B$24.77B$24.55B$23.55B$26.00B$28.71B$29.06B$29.72B$11.82B$11.25B
Goodwill $27.93B$25.94B$26.75B$25.82B$27.04B$28.20B$27.02B$26.87B$3.23B$3.12B
Other intangibles $11.87B$11.33B$12.40B$12.42B$13.80B$16.18B$16.14B$16.22B$785.0M—
Total assets $86.82B$80.15B$80.81B$79.66B$81.61B$88.23B$86.61B$93.39B$20.44B—
Accounts payable $2.81B$2.51B$3.02B$3.00B$3.50B$3.10B$3.27B$3.22B$922.0M—
Short-term debt $1.80B$2.06B$1.26B$1.60B$1.71B$3.25B$1.73B$1.49B$238.0M—
Total current liabilities $15.20B$14.54B$15.72B$16.48B$13.64B$13.74B$12.16B$12.96B$3.31B—
Long-term debt $20.68B$15.34B$13.40B$12.20B$11.34B$12.15B$10.69B$12.29B$7.78B—
Total liabilities $47.08B$40.66B$39.72B$38.27B$36.16B$38.65B$34.98B$36.29B$13.91B—
Retained earnings $16.61B$12.63B$8.85B$20.54B$18.71B$17.18B$16.84B$16.53B$13.22B—
Total equity $38.24B$38.09B$41.08B$41.37B$45.43B$49.57B$51.52B$57.08B$6.51B$5.44B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $10.35B$9.42B$9.30B$8.86B$9.72B$7.43B$6.12B$3.65B$3.04B$2.79B
Depreciation and amortisation $3.25B$3.23B$3.27B$3.63B$3.91B$3.86B$3.94B$1.61B$1.09B$1.03B
Stock-based compensation ———$107.0M$128.0M$133.0M$95.0M$62.0M$59.0M$39.0M
Capital expenditure $5.26B$4.50B$3.79B$3.17B$3.09B$3.40B$3.68B$1.88B$1.31B$1.47B
Investing cash flow -$5.72B-$4.64B-$4.67B-$3.09B-$3.01B-$2.99B$1.19B$5.36B-$1.31B-$1.77B
Financing cash flow -$4.55B-$4.36B-$5.40B-$3.09B-$7.59B-$3.35B-$9.00B-$5.00B-$1.66B-$659.0M
Dividends paid $2.81B$2.65B$2.48B$2.34B$2.19B$2.03B$1.89B$1.17B$901.0M$856.0M
Buybacks $4.60B$4.48B$3.96B$5.17B$4.61B$2.46B$2.66B$599.0M$12.0M$228.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-192209.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B 40B Revenue, FY2016: 10.5B Net income, FY2016: 1.5B Revenue, FY2017: 11.4B Net income, FY2017: 1.2B Revenue, FY2018: 14.8B Net income, FY2018: 4.4B Revenue, FY2019: 28.2B Net income, FY2019: 2.3B Revenue, FY2020: 27.2B Net income, FY2020: 2.5B Revenue, FY2021: 30.8B Net income, FY2021: 3.8B Revenue, FY2022: 33.4B Net income, FY2022: 4.1B Revenue, FY2023: 32.9B Net income, FY2023: 6.2B Revenue, FY2024: 33B Net income, FY2024: 6.6B Revenue, FY2025: 34B Net income, FY2025: 6.9B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $10.53B $11.36B $14.84B $28.23B $27.24B $30.79B $33.36B $32.85B $33.01B $33.99B
Gross profit — — — — — — — — — —
Net income $1.50B $1.25B $4.38B $2.29B $2.50B $3.83B $4.15B $6.20B $6.57B $6.90B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event Item 8.01
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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