Saturday 17 October 2026
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Linde PLC
LIN Basic Materials Specialty Chemicals
Linde PLC’s revenue for fiscal 2025 (year ended December 2025) was $34.0 billion, up 2.97% from fiscal 2024. In the quarter to June 2026, revenue grew 9.35%, EPS grew 11.2%, free cash flow fell 12.7% and total debt rose 8.07%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for twenty-five consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
498.43
5.21
+1.06%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
22.22 | 35.91 | 11.79 | 50.33 | 55.59 | 46.88 | 38.36 | 32.25 | 30.54 | 29.07 |
Piotroski F-Score |
4 | 5 | 5 | 6 | 6 | 7 | 7 | 7 | 8 | 6 |
P/S ratio |
3.17 | 3.94 | 3.48 | 4.08 | 5.09 | 5.82 | 4.77 | 6.09 | 6.07 | 5.89 |
Altman Z-Score |
3.33 | 3.76 | 1.50 | 2.65 | 2.82 | 3.82 | 3.51 | 3.87 | 3.92 | 3.52 |
Altman Z″-Score (non-manufacturers) |
3.50 | 3.40 | 2.91 | 2.27 | 2.02 | 2.20 | 2.15 | 1.86 | 2.13 | 2.06 |
P/FCF ratio |
25.22 | 25.84 | 29.11 | 47.27 | 34.45 | 26.97 | 27.95 | 36.24 | 40.69 | 39.34 |
Beneish M-Score |
(2.75) | (2.80) | (0.70) | (2.37) | (2.82) | (2.73) | (2.77) | (2.67) | (2.69) | (2.63) |
P/Operating CF |
45.01 | 53.48 | 39.51 | 52.99 | 57.03 | 55.39 | 75.94 | 73.32 | 71.36 | 66.07 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 77 |
P/B ratio |
6.14 | 6.87 | 0.90 | 2.24 | 2.80 | 3.94 | 3.85 | 4.87 | 5.08 | 5.04 |
Price to Tangible BV |
19.18 | 17.93 | 3.69 | 13.77 | 26.77 | 39.03 | 50.71 | 103.50 | 90.78 | 0.00 |
EV/Sales |
4.02 | 4.67 | 4.21 | 4.48 | 5.55 | 6.18 | 5.14 | 6.53 | 6.58 | 6.54 |
EV/EBITDA |
12.58 | 14.63 | 8.38 | 16.60 | 19.02 | 19.80 | 17.92 | 18.13 | 17.50 | 17.51 |
EV/Operating CF |
15.20 | 17.46 | 17.07 | 20.67 | 20.35 | 19.58 | 19.36 | 23.07 | 23.05 | 21.46 |
EV/FCF |
32.01 | 30.69 | 35.23 | 51.89 | 37.53 | 28.69 | 30.15 | 38.90 | 44.10 | 43.65 |
Quick Ratio |
0.87 | 0.70 | 0.68 | 0.58 | 0.58 | 0.54 | 0.61 | 0.60 | 0.65 | 0.66 |
Current Ratio |
1.16 | 0.99 | 1.33 | 0.85 | 0.80 | 0.74 | 0.79 | 0.80 | 0.89 | 0.88 |
Net Debt/EBITDA |
2.67 | 2.31 | 1.45 | 1.48 | 1.56 | 1.18 | 1.30 | 1.24 | 1.35 | 1.73 |
Debt/Assets |
49.22% | 44.04% | 16.38% | 16.11% | 18.31% | 17.41% | 22.49% | 23.97% | 26.98% | 31.09% |
Debt/Equity |
1.75 | 1.38 | 0.27 | 0.27 | 0.33 | 0.31 | 0.43 | 0.47 | 0.55 | 0.68 |
Asset Turnover |
0.56 | 0.57 | 0.26 | 0.31 | 0.31 | 0.36 | 0.41 | 0.41 | 0.41 | 0.41 |
Operating CF/Net income |
1.86 | 2.44 | 0.83 | 2.68 | 2.97 | 2.54 | 2.14 | 1.50 | 1.44 | 1.50 |
Capex/Depreciation |
(1.31) | (1.11) | (0.86) | (0.79) | (0.73) | (0.67) | (0.75) | (0.99) | (1.19) | (1.40) |
Interest Coverage |
11.83 | 15.18 | 25.98 | 77.18 | 28.89 | 64.73 | 85.22 | 40.12 | 33.73 | 34.99 |
| 29.31% | 20.87% | 13.78% | 4.21% | 4.95% | 8.05% | 9.56% | 15.04% | 16.30% | 17.42% | |
| 7.97% | 6.27% | 7.70% | 2.54% | 2.86% | 4.51% | 5.14% | 7.73% | 8.16% | 8.26% | |
ROIC |
9.73% | 10.26% | 4.83% | 2.92% | 3.35% | 5.48% | 6.23% | 8.99% | 9.59% | 9.04% |
Return on Tangible Assets |
12.63% | 10.57% | 12.87% | 8.38% | 9.66% | 16.99% | 20.62% | 28.89% | 28.33% | 26.14% |
Average Days of Receivables |
56.86 | 54.95 | 105.72 | 55.89 | 55.83 | 53.33 | 49.88 | 52.42 | 51.11 | 53.33 |
Research and Development Expense of Revenue |
0.87% | 0.82% | 0.76% | 0.65% | 0.56% | 0.46% | 0.43% | 0.44% | 0.45% | 0.43% |
Selling, General and Administrative Expense of Revenue |
10.87% | 10.63% | 10.98% | 12.25% | 11.72% | 10.36% | 9.31% | 10.03% | 10.11% | 10.10% |
Intangible Assets out of Total Assets |
0.19 | 0.20 | 0.46 | 0.50 | 0.50 | 0.50 | 0.48 | 0.48 | 0.47 | 0.46 |
Share Based Compensation of Revenue |
0.37% | 0.52% | 0.42% | 0.34% | 0.49% | 0.42% | 0.32% | 0.43% | 0.48% | 0.48% |
Graham Net Nets |
(0.33) | (0.24) | (0.37) | (0.21) | (0.20) | (0.15) | (0.16) | (0.14) | (0.14) | (0.17) |
Graham Number |
47.48 | 47.18 | 226.83 | 95.20 | 100.18 | 120.89 | 124.34 | 155.07 | 159.48 | 167.13 |
Earnings Yield |
4.50% | 2.79% | 8.48% | 1.99% | 1.80% | 2.13% | 2.61% | 3.10% | 3.27% | 3.44% |
Free Cash Flow Yield |
3.96% | 3.87% | 3.44% | 2.12% | 2.90% | 3.71% | 3.58% | 2.76% | 2.46% | 2.54% |
Revenue per Share |
36.87 | 39.68 | 44.90 | 52.17 | 51.72 | 59.57 | 66.76 | 67.30 | 68.94 | 72.39 |
Operating CF per Share |
9.76 | 10.62 | 11.06 | 11.31 | 14.10 | 18.81 | 17.74 | 19.06 | 19.68 | 22.05 |
Capex per Share |
(5.13) | (4.58) | (5.70) | (6.80) | (6.45) | (5.97) | (6.35) | (7.76) | (9.39) | (11.21) |
Free Cash Flow per Share |
4.63 | 6.04 | 5.36 | 4.50 | 7.65 | 12.84 | 11.39 | 11.30 | 10.29 | 10.84 |
Cash per Share |
1.83 | 2.16 | 13.52 | 4.99 | 7.13 | 5.46 | 10.88 | 9.55 | 10.13 | 10.77 |
Shareholders Equity per Share |
19.05 | 22.75 | 172.76 | 95.22 | 94.11 | 87.89 | 82.79 | 84.15 | 82.45 | 84.62 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
19.05 | 22.75 | 172.76 | 95.22 | 94.11 | 87.89 | 82.79 | 84.15 | 82.45 | 84.62 |
Free Cash Flow |
1,324.00 | 1,730.00 | 1,771.00 | 2,437.00 | 4,029.00 | 6,639.00 | 5,691.00 | 5,518.00 | 4,926.00 | 5,089.00 |
Working Capital |
402.00 | (22.00) | 4,316.00 | (1,808.00) | (2,816.00) | (3,484.00) | (3,432.00) | (3,097.00) | (1,599.00) | (1,873.00) |
Capital Expenditures |
(1,465.00) | (1,311.00) | (1,883.00) | (3,682.00) | (3,400.00) | (3,086.00) | (3,173.00) | (3,787.00) | (4,497.00) | (5,261.00) |
Net Current Asset Value |
(11,011.00) | (10,640.00) | (19,034.00) | (24,738.00) | (27,736.00) | (26,018.00) | (25,237.00) | (27,109.00) | (27,727.00) | (33,764.00) |
EV/EBIT |
18.86 | 21.72 | 11.89 | 43.11 | 45.51 | 38.21 | 31.96 | 26.75 | 25.16 | 24.89 |
Capex to Sales |
0.14 | 0.12 | 0.13 | 0.13 | 0.12 | 0.10 | 0.10 | 0.12 | 0.14 | 0.15 |
Price to Operating Income |
14.86 | 18.29 | 9.83 | 39.28 | 41.78 | 35.93 | 29.63 | 24.92 | 23.21 | 22.43 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.10 | 0.10 | 0.07 | 0.16 | 0.16 | 0.18 | 0.18 | 0.16 | 0.15 | 0.13 |
Cash ROIC |
8.55% | 10.73% | 2.30% | 3.57% | 5.80% | 10.63% | 8.79% | 8.47% | 7.47% | 7.09% |
Accounts Receivable Turnover |
6.50 | 6.78 | 4.94 | 6.55 | 6.42 | 7.11 | 7.37 | 7.08 | 7.07 | 7.09 |
Accounts Payable Turnover |
6.90 | 6.98 | 4.36 | 5.13 | 4.84 | 5.32 | 5.99 | 5.82 | 6.20 | 6.54 |
Inventory Turnover |
10.83 | 10.97 | 7.96 | 9.94 | 8.98 | 10.13 | 10.48 | 8.55 | 8.44 | 8.69 |
Average Days of Payables |
56.48 | 52.73 | 130.26 | 71.62 | 73.44 | 72.88 | 56.20 | 63.02 | 53.38 | 58.98 |
Days of Inventory on Hand |
34.29 | 35.12 | 66.81 | 37.21 | 41.02 | 36.06 | 37.12 | 44.13 | 41.43 | 43.14 |
Average Receivables |
1,621.00 | 1,675.50 | 3,003.50 | 4,309.50 | 4,244.50 | 4,333.00 | 4,529.00 | 4,638.50 | 4,670.00 | 4,794.00 |
Average Payables |
848.50 | 914.00 | 2,070.50 | 3,242.50 | 3,180.50 | 3,299.00 | 3,249.00 | 3,007.50 | 2,763.50 | 2,658.50 |
Average Inventory |
540.50 | 582.00 | 1,132.50 | 1,674.00 | 1,713.00 | 1,731.00 | 1,855.50 | 2,046.50 | 2,030.50 | 2,000.50 |
Average Assets |
18,825.50 | 19,884.00 | 56,911.00 | 89,999.00 | 87,420.50 | 84,917.00 | 80,631.50 | 80,234.50 | 80,479.00 | 83,482.00 |
Average Common Equity |
5,117.00 | 5,976.00 | 31,795.50 | 54,301.00 | 50,545.50 | 47,498.50 | 43,401.00 | 41,228.00 | 40,278.50 | 39,601.50 |
Columns are period end dates