Friday 6 November 2026 Export LIN’s income statement to Excel — free account

Linde PLC

Linde PLC’s revenue for fiscal 2025 (year ended December 2025) was $34.0 billion, up 2.97% from fiscal 2024.

Revenue: +9.16%
EPS: −8.09%
Free cash flow: +6.28%
Total debt: +3.00%

Quarter to September 2026, against a year earlier

520.20 4.54 −0.87%

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Market cap: $239.3B
P/E: 34.2×
Fwd P/E: 31.6×
Dividend yield: 1.21%
F-score: 6/9
Altman Z: 3.52
Beneish M: −2.63
Dividend safety: 77/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Linde PLC (LIN) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Americas	15,208	44.75%
EMEA	8,549	25.15%
APAC	6,661	19.60%
Engineering	2,250	6.62%
Other	1,318	3.88%
Gross margin		48.83%
Operating margin		26.25%
Pre-tax margin		26.18%

Revenue by product or service $m

Line	FY2018	FY2016
Atmospheric gases and related	8,375 56.45%	7,329 69.57%
Process gases and other	2,970 20.02%	2,609 24.77%
Linde Aktiengesellschaft	2,873 19.37%	0 0.00%
Surface Technologies	682 4.60%	596 5.66%
Revenue	14,836	10,534

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Americas	15,208 44.75%	14,442 43.76%	14,304 43.54%	13,874 41.58%	12,103 39.30%	10,459 38.39%	10,989 38.93%	8,017 54.04%	7,204 63.43%	—
EMEA	8,549 25.15%	8,352 25.31%	8,542 26.00%	8,443 25.31%	7,643 24.82%	6,449 23.67%	6,643 23.53%	2,644 17.82%	1,520 13.38%	—
APAC	6,661 19.60%	6,632 20.09%	6,559 19.96%	6,480 19.42%	6,133 19.92%	5,687 20.88%	5,779 20.47%	2,446 16.49%	1,571 13.83%	—
Engineering	2,250 6.62%	2,322 7.04%	2,160 6.57%	2,762 8.28%	2,867 9.31%	2,851 10.47%	2,799 9.92%	459 3.09%	—	—
Other	1,318 3.88%	1,257 3.81%	1,289 3.92%	1,805 5.41%	2,047 6.65%	1,797 6.60%	2,018 7.15%	1,270 8.56%	1,063 9.36%	—
North America	—	—	—	—	—	—	—	—	—	5,592 53.09%
Asia	—	—	—	—	—	—	—	—	—	1,555 14.76%
South America	—	—	—	—	—	—	—	—	—	1,399 13.28%
Europe	—	—	—	—	—	—	—	—	—	1,392 13.21%
Surface Technologies	—	—	—	—	—	—	—	—	—	596 5.66%
Linde AG	—	—	—	—	—	—	—	—	—	0 0.00%
Total sales	—	—	—	—	—	—	—	—	—	10,534
Revenue	33,986	33,005	32,854	33,364	30,793	27,243	28,228	14,836	11,358	10,534

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Americas	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
EMEA	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
APAC	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Engineering	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
North America	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Asia	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Europe	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
South America	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Surface Technologies	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Linde AG	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
U.S.	12,182 35.84%	11,497 34.83%	10,566 32.16%	10,553 31.63%	9,123 29.63%	8,475 31.11%	8,604 30.48%	5,942 40.05%	4,973 43.78%	4,623 43.89%
Other – non-U.S.	11,259 33.13%	10,847 32.86%	11,472 34.92%	10,978 32.90%	11,075 35.97%	9,479 34.79%	10,215 36.19%	5,410 36.47%	4,018 35.38%	2,594 24.63%
China	2,600 7.65%	2,649 8.03%	2,585 7.87%	2,643 7.92%	2,562 8.32%	2,061 7.57%	2,005 7.10%	1,032 6.96%	735 6.47%	613 5.82%
Germany	2,432 7.16%	2,509 7.60%	2,827 8.60%	3,662 10.98%	3,601 11.69%	3,740 13.73%	3,630 12.86%	868 5.85%	401 3.53%	373 3.54%
United Kingdom	1,510 4.44%	1,540 4.67%	1,507 4.59%	1,954 5.86%	2,060 6.69%	1,595 5.85%	1,653 5.86%	398 2.68%	131 1.15%	—
Mexico	1,391 4.09%	1,346 4.08%	1,292 3.93%	1,044 3.13%	—	—	—	—	—	—
Brazil	1,325 3.90%	1,263 3.83%	1,302 3.96%	1,158 3.47%	1,065 3.46%	822 3.02%	994 3.52%	1,003 6.76%	1,100 9.68%	1,091 10.36%
Australia	1,287 3.79%	1,354 4.10%	1,303 3.97%	1,372 4.11%	1,307 4.24%	1,071 3.93%	1,127 3.99%	183 1.23%	—	—
Europe, Excluding Germany	—	—	—	—	—	—	—	—	—	1,240 11.77%
Revenue	33,986	33,005	32,854	33,364	30,793	27,243	28,228	14,836	11,358	10,534

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Order intake	Q3 FY2026	$499.0M	$269.0M	+85.50%
Remaining performance obligations	Q3 FY2026	$66.0B	$62.0B	+6.45%
Sale-of-gas backlog	Q3 FY2026	$7.9B	$7.1B	+11.27%
Third-party sale of equipment backlog	Q3 FY2026	$2.9B	$2.9B	0.00%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q3 FY2019	Q2 FY2019
Order intake	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sale-of-gas backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Third-party sale of equipment backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.