Linde PLC (LIN) vs LyondellBasell Industries N.V. (LYB)

Linde PLC and LyondellBasell Industries N.V. are both Specialty Chemicals companies. Linde PLC is the larger, with a market value of $214.9B against $19.6B — 11.0× the size. LyondellBasell Industries N.V. has negative trailing earnings, so its P/E is not meaningful; Linde PLC trades at 30.2×. Linde PLC grew revenue faster over the last twelve months: 6.63% against −1.75%. Linde PLC has the higher net margin (20.4% vs −1.13%) and the higher return on invested capital (9.20% vs 2.87%). Both pay a dividend; LyondellBasell Industries N.V. yields more (5.35% vs 1.33%). Across the 22 metrics below, Linde PLC leads on 14 and LyondellBasell Industries N.V. on 8.

Valuation

Metric LIN LYB Specialty Chemicals median
P/E 30.20 n/m 24.83
P/S 6.13 0.60 1.46
P/B 5.35 1.76 1.76
Price to free cash flow 43.69 10.99 19.84
EV/EBITDA 18.21 12.11 13.18
EV/Sales 6.78 0.93 1.84
Earnings yield 3.31% (1.94%) 2.11%
Free cash flow yield 2.29% 9.10% 2.29%

Profitability

Metric LIN LYB Specialty Chemicals median
Gross margin 48.35% 12.76% 29.23%
Operating margin 26.45% 3.09% 3.63%
Net margin 20.43% (1.13%) 2.89%
Free cash flow margin 14.03% 5.48% 3.78%
Return on equity 17.98% (3.12%) 3.62%
Return on assets 8.31% (1.01%) 0.35%
Return on invested capital 9.20% 2.87% 2.75%

Growth

Metric LIN LYB Specialty Chemicals median
Revenue growth (TTM) 6.63% (1.75%) 4.51%
EPS growth (last fiscal year) 7.27% (156.39%) —
Revenue growth, 5-year CAGR 4.52% 1.67% 6.30%
Net income growth, 5-year CAGR 22.50% 0.00% 0.00%

Health

Metric LIN LYB Specialty Chemicals median
Debt to equity 0.69 1.21 0.54
Current ratio 0.88 1.64 1.94
Net debt to EBITDA 1.73 9.67 2.03

Dividend

Metric LIN LYB Specialty Chemicals median
Dividend yield 1.33% 5.35% 1.69%
Payout ratio 0.43 0.75 0.25

Size

Metric LIN LYB Specialty Chemicals median
Market cap 214.90b 19.60b 2.43b

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