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Materials·LIN
Linde plc
NASDAQ · US
Industrial gas supplier with electronics-grade nitrogen, argon, hydrogen, helium, and specialty gases for fabs.
AI relevance
Process gas and bulk gas supply scales with leading-edge wafer starts and advanced packaging capacity.
Price
$512.15
Change
-3.70 (-0.72%)
Market cap
$236.9B
52w range
$388–$526
Exchange
NASDAQ
Country
US
Jason's Chips
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Price chart
LIN market performance
Daily close for Linde plc
- Latest close
- $512.1
- Range move
- +$53.45 (+11.7%)
- Range high
- $523.6
- Range low
- $389.4
- Latest volume
- 5.2M
- Source
- FMP EOD
Downloads
CSVExports
Download statements, ratios, chart data, and transcript indexes.
Income statement
12 annual rowsRevenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.
Balance sheet
12 annual rowsCash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.
Cash flow
12 annual rowsOperating cash flow, capital expenditures, and free cash flow.
Key metrics
12 annual rowsEnterprise value, valuation multiples, returns, yields, and cash conversion.
Ratios
12 annual rowsMargins, liquidity ratios, valuation ratios, leverage, and per-share metrics.
Chart data
1255 rowsFive years of daily close and volume data powering the company chart.
Transcript list
29 rowsAvailable earnings-call transcript dates by fiscal year and quarter.
StreetBuy
Analyst expectations
Rating consensus28 ratings
Strong buy
0
Buy
24
Hold
4
Sell
0
Strong sell
0
Annual estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-12-31 | $35.91B | $35.24B - $36.70B | $17.90 | $17.79 - $17.99 | $17.03B | $14.36B | $8.38B | $3.58B | 19 rev / 15 EPS |
| 2027-12-31 | $37.70B | $36.42B - $38.92B | $19.60 | $19.31 - $20.14 | $17.88B | $15.07B | $9.24B | $3.76B | 18 rev / 15 EPS |
| 2028-12-31 | $39.90B | $39.82B - $39.98B | $21.56 | $19.88 - $23.83 | $18.93B | $15.95B | $10.24B | $3.98B | 18 rev / 9 EPS |
| 2029-12-31 | $43.63B | $43.06B - $44.50B | $25.55 | $25.12 - $26.21 | $20.69B | $17.45B | $11.98B | $4.36B | 11 rev / 3 EPS |
| 2030-12-31 | $44.14B | $43.57B - $45.02B | $25.05 | $24.63 - $25.70 | $20.94B | $17.65B | $11.74B | $4.41B | 9 rev / 3 EPS |
Quarterly estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | $9.00B | $8.78B - $9.24B | $4.48 | $4.45 - $4.54 | $4.27B | $3.60B | $2.09B | $898.1M | 10 rev / 12 EPS |
| 2026-09-30 | $9.09B | $8.86B - $9.41B | $4.54 | $4.48 - $4.58 | $4.31B | $3.63B | $2.12B | $907.1M | 10 rev / 11 EPS |
| 2026-12-31 | $9.18B | $9.10B - $9.37B | $4.54 | $4.49 - $4.67 | $4.35B | $3.67B | $2.12B | $915.9M | 5 rev / 4 EPS |
| 2027-03-31 | $9.32B | $9.24B - $9.51B | $4.72 | $4.67 - $4.85 | $4.42B | $3.73B | $2.20B | $930.2M | 5 rev / 4 EPS |
| 2027-06-30 | $9.55B | $9.47B - $9.75B | $4.85 | $4.79 - $4.98 | $4.53B | $3.82B | $2.26B | $953.6M | 5 rev / 5 EPS |
| 2027-09-30 | $9.74B | $9.66B - $9.94B | $4.99 | $4.94 - $5.12 | $4.62B | $3.90B | $2.33B | $972.5M | 5 rev / 8 EPS |
| 2027-12-31 | $9.86B | $9.78B - $10.06B | $5.02 | $4.97 - $5.16 | $4.68B | $3.94B | $2.34B | $984.1M | 5 rev / 4 EPS |
| 2028-03-31 | $9.87B | $9.79B - $10.08B | $5.20 | $5.14 - $5.34 | $4.68B | $3.95B | $2.42B | $985.5M | 4 rev / 5 EPS |
Price target history
| Window | Targets | Average target |
|---|---|---|
| Last month | 1 | $600.00 |
| Last quarter | 7 | $573.00 |
| Last year | 17 | $536.76 |
| All time | 50 | $461.01 |
Sources: StreetInsider, TheFly, Benzinga, TipRanks Contributor, Investing
Latest grade actions
| Date | Firm | Action | Previous | New |
|---|---|---|---|---|
| 2026-05-05 | RBC Capital | Maintain | Outperform | Outperform |
| 2026-05-04 | Citigroup | Maintain | Buy | Buy |
| 2026-05-04 | JP Morgan | Maintain | Overweight | Overweight |
| 2026-04-24 | RBC Capital | Maintain | Outperform | Outperform |
| 2026-04-17 | Seaport Global | Maintain | Buy | Buy |
| 2026-04-13 | Citigroup | Maintain | Buy | Buy |
| 2026-04-09 | UBS | Maintain | Buy | Buy |
| 2026-03-13 | JP Morgan | Upgrade | Neutral | Overweight |
Historical rating snapshots
| Date | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| 2026-06-01 | 5 | 17 | 5 | 1 | 0 |
| 2026-05-01 | 4 | 17 | 5 | 1 | 1 |
| 2026-04-01 | 4 | 17 | 4 | 1 | 1 |
| 2026-03-01 | 4 | 18 | 5 | 1 | 1 |
| 2026-02-01 | 5 | 18 | 6 | 1 | 1 |
| 2026-01-01 | 5 | 18 | 3 | 1 | 0 |
| 2025-12-01 | 5 | 18 | 2 | 1 | 0 |
| 2025-11-01 | 5 | 17 | 5 | 1 | 0 |
FinancialsFY 2025
Financials
Income statement annual
| Period | Revenue | Gross profit | Gross margin | R&D | Operating income | EBITDA | Net income | EPS |
|---|---|---|---|---|---|---|---|---|
| FY 2025 | $33.99B | $14.73B | 43.3% | $147.0M | $8.94B | $12.95B | $6.90B | $14.67 |
| FY 2024 | $33.01B | $12.08B | 36.6% | $150.0M | $8.60B | $12.92B | $6.57B | $13.71 |
| FY 2023 | $32.85B | $11.55B | 35.1% | $146.0M | $8.11B | $12.29B | $6.20B | $12.70 |
| FY 2022 | $33.36B | $9.71B | 29.1% | $143.0M | $6.46B | $9.94B | $4.15B | $8.30 |
| FY 2021 | $30.79B | $8.62B | 28.0% | $143.0M | $5.28B | $9.89B | $3.83B | $7.40 |
| FY 2020 | $27.24B | $7.23B | 26.6% | $152.0M | $3.89B | $8.12B | $2.50B | $4.75 |
| FY 2019 | $28.23B | $6.91B | 24.5% | $184.0M | $3.27B | $8.10B | $2.29B | $4.22 |
| FY 2018 | $14.84B | $3.99B | 26.9% | $113.0M | $2.24B | $7.12B | $4.38B | $13.26 |
| FY 2017 | $11.44B | $3.79B | 33.2% | $93.0M | $2.49B | $3.75B | $1.25B | $4.36 |
| FY 2016 | $10.53B | $3.55B | 33.7% | $92.0M | $2.31B | $3.38B | $1.50B | $5.25 |
| FY 2015 | $10.78B | $3.71B | 34.4% | $93.0M | $2.47B | $3.27B | $1.55B | $5.39 |
| FY 2014 | $12.27B | $4.14B | 33.7% | $96.0M | $2.72B | $3.71B | $1.69B | $5.79 |
Cash flow annual
| Period | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|
| FY 2025 | $10.35B | $5.26B | $5.09B |
| FY 2024 | $9.42B | $4.50B | $4.93B |
| FY 2023 | $9.30B | $3.79B | $5.52B |
| FY 2022 | $8.86B | $3.17B | $5.69B |
| FY 2021 | $9.72B | $3.09B | $6.64B |
| FY 2020 | $7.43B | $3.40B | $4.03B |
| FY 2019 | $6.19B | $3.68B | $2.51B |
| FY 2018 | $3.70B | $1.88B | $1.82B |
| FY 2017 | $3.04B | $1.31B | $1.73B |
| FY 2016 | $2.77B | $1.47B | $1.31B |
| FY 2015 | $2.68B | $1.54B | $1.14B |
| FY 2014 | $2.87B | $1.69B | $1.18B |
Balance sheet annual
| Period | Cash + ST inv. | Receivables | Inventory | PP&E | Assets | Debt | Net debt | Liabilities | Equity |
|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $5.06B | $5.24B | $2.06B | $29.34B | $86.82B | $26.99B | $21.93B | $47.08B | $38.24B |
| FY 2024 | $4.85B | $5.06B | $1.95B | $25.76B | $80.15B | $22.61B | $17.76B | $40.66B | $38.09B |
| FY 2023 | $4.66B | $5.09B | $2.12B | $25.49B | $80.81B | $20.32B | $15.65B | $39.72B | $39.72B |
| FY 2022 | $5.44B | $4.91B | $1.98B | $23.55B | $79.66B | $18.79B | $13.36B | $38.27B | $40.03B |
| FY 2021 | $2.82B | $4.83B | $1.73B | $26.00B | $81.61B | $15.22B | $12.39B | $36.16B | $44.03B |
| FY 2020 | $3.75B | $4.59B | $1.73B | $28.71B | $88.23B | $17.22B | $13.47B | $38.65B | $47.32B |
| FY 2019 | $2.70B | $4.96B | $1.70B | $29.06B | $86.61B | $14.93B | $12.23B | $34.98B | $49.07B |
| FY 2018 | $4.47B | $4.83B | $1.65B | $29.72B | $93.39B | $15.30B | $10.83B | $36.29B | $51.60B |
| FY 2017 | $617.0M | $1.80B | $614.0M | $12.06B | $20.44B | $9.00B | $8.38B | $13.91B | $6.02B |
| FY 2016 | $524.0M | $1.64B | $550.0M | $11.48B | $19.33B | $9.52B | $8.99B | $13.88B | $5.02B |
| FY 2015 | $147.0M | $1.60B | $531.0M | $11.00B | $18.32B | $9.23B | $9.08B | $13.41B | $4.39B |
| FY 2014 | $126.0M | $1.64B | $551.0M | $12.00B | $19.80B | $9.26B | $9.13B | $13.62B | $5.62B |
Annual ratios and key metrics
| Period | Gross margin | Op margin | Net margin | Current | Quick | ROE | ROIC | EV / sales | EV / EBITDA | FCF yield | R&D / rev. | Cash cycle |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | 43.3% | 26.3% | 20.3% | 0.9x | 0.7x | 18.0% | 9.0% | 6.5x | 17.1x | 2.6% | 0.4% | 42d |
| FY 2024 | 36.6% | 26.0% | 19.9% | 0.9x | 0.8x | 17.2% | 9.2% | 6.6x | 16.9x | 2.5% | 0.5% | 46d |
| FY 2023 | 35.1% | 24.7% | 18.9% | 0.8x | 0.7x | 15.6% | 8.8% | 6.6x | 17.6x | 2.8% | 0.4% | 41d |
| FY 2022 | 29.1% | 19.4% | 12.4% | 0.8x | 0.7x | 10.4% | 7.0% | 5.3x | 17.7x | 3.5% | 0.4% | 38d |
| FY 2021 | 28.0% | 17.2% | 12.4% | 0.7x | 0.6x | 8.7% | 5.6% | 6.2x | 19.4x | 3.7% | 0.5% | 28d |
| FY 2020 | 26.6% | 14.3% | 9.2% | 0.8x | 0.7x | 5.3% | 3.7% | 5.6x | 18.7x | 2.9% | 0.6% | 37d |
| FY 2019 | 24.5% | 11.6% | 8.1% | 0.9x | 0.7x | 4.7% | 3.1% | 4.5x | 15.7x | 2.2% | 0.7% | 37d |
| FY 2018 | 26.9% | 15.1% | 29.5% | 1.3x | 1.2x | 8.5% | 2.3% | 4.2x | 8.8x | 3.5% | 0.8% | 66d |
| FY 2017 | 33.2% | 21.8% | 10.9% | 1.0x | 0.8x | 20.7% | 7.6% | 4.6x | 14.0x | 3.9% | 0.8% | 43d |
| FY 2016 | 33.7% | 22.0% | 14.2% | 1.2x | 0.9x | 29.9% | 9.8% | 4.0x | 12.6x | 3.9% | 0.9% | 38d |
| FY 2015 | 34.4% | 22.9% | 14.4% | 1.4x | 1.1x | 35.2% | 10.7% | 3.6x | 11.8x | 3.9% | 0.9% | 41d |
| FY 2014 | 33.7% | 22.1% | 13.8% | 1.1x | 0.9x | 30.1% | 10.9% | 3.8x | 12.7x | 3.1% | 0.8% | 35d |
Annual growth
| Period | Revenue | Gross profit | R&D | Op income | Net income | EPS | FCF | Capex | Cash + ST inv. | Inventory | Assets | Debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | +3.0% | +21.9% | -2.0% | +4.0% | +5.1% | +7.0% | +3.3% | -17.0% | +4.2% | +5.6% | +8.3% | +19.4% |
| FY 2024 | +0.5% | +4.6% | +2.7% | +6.0% | +5.9% | +8.0% | -10.7% | -18.7% | +4.0% | -8.0% | -0.8% | +11.3% |
| FY 2023 | -1.5% | +18.9% | +2.1% | +25.5% | +49.5% | +53.0% | -3.0% | -19.4% | -14.2% | +6.9% | +1.4% | +8.1% |
| FY 2022 | +8.3% | +12.7% | 0.0% | +22.3% | +8.4% | +12.2% | -14.3% | -2.8% | +92.6% | +14.1% | -2.4% | +23.5% |
| FY 2021 | +13.0% | +19.1% | -5.9% | +35.8% | +53.0% | +55.8% | +64.8% | +9.2% | -24.8% | +0.2% | -7.5% | -11.7% |
| FY 2020 | -3.5% | +4.7% | -17.4% | +19.0% | +9.5% | +12.6% | +60.8% | +7.7% | +39.0% | +1.9% | +1.9% | +15.3% |
| FY 2019 | +90.3% | +73.3% | +62.8% | +45.6% | -47.8% | -68.2% | +37.8% | -95.5% | -39.5% | +2.8% | -7.3% | -2.4% |
| FY 2018 | +29.7% | +5.1% | +21.5% | -10.0% | +251.3% | +204.1% | +5.1% | -43.6% | +623.8% | +168.9% | +357.0% | +70.0% |
| FY 2017 | +8.6% | +6.8% | +1.1% | +7.6% | -16.9% | -17.0% | +32.3% | +10.5% | +17.7% | +11.6% | +5.7% | -5.4% |
| FY 2016 | -2.2% | -4.3% | -1.1% | -6.3% | -3.0% | -2.6% | +14.6% | +4.9% | +256.5% | +3.6% | +5.5% | +3.1% |
| FY 2015 | -12.2% | -10.4% | -3.1% | -9.1% | -8.7% | -6.9% | -3.2% | +8.8% | +16.7% | -3.6% | -7.5% | -0.3% |
| FY 2014 | +2.9% | +1.7% | -2.0% | +2.0% | -3.5% | -2.5% | +31.4% | +16.4% | -8.7% | +8.9% | -2.2% | +5.1% |
SegmentsFY 2025
Revenue Mix
Latest product mixFY 2025 · $33.12B
Americas Segment$15.21B · 45.9%
EMEA Segment$8.55B · 25.8%
APAC Segment$6.66B · 20.1%
Engineering Segment$2.70B · 8.2%
Latest geography mixFY 2025 · $33.99B
UNITED STATES$12.18B · 35.8%
Other International$11.26B · 33.1%
CHINA$2.60B · 7.7%
GERMANY$2.43B · 7.2%
UNITED KINGDOM$1.51B · 4.4%
MEXICO$1.39B · 4.1%
BRAZIL$1.32B · 3.9%
AUSTRALIA$1.29B · 3.8%
Product revenue annual
| Period | Total | Americas Segment | EMEA Segment | APAC Segment | Engineering Segment | Atmospheric gases and related | Process gases and other | Linde Aktiengesellschaft | Surface Technologies Segment |
|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $33.12B | $15.21B | $8.55B | $6.66B | $2.70B | -- | -- | -- | -- |
| FY 2024 | $31.75B | $14.44B | $8.35B | $6.63B | $2.32B | -- | -- | -- | -- |
| FY 2023 | $31.57B | $14.30B | $8.54B | $6.56B | $2.16B | -- | -- | -- | -- |
| FY 2022 | $31.56B | $13.87B | $8.44B | $6.48B | $2.76B | -- | -- | -- | -- |
| FY 2021 | $28.75B | $12.10B | $7.64B | $6.13B | $2.87B | -- | -- | -- | -- |
| FY 2020 | $25.45B | $10.46B | $6.45B | $5.69B | $2.85B | -- | -- | -- | -- |
| FY 2019 | $26.27B | $10.99B | $6.64B | $5.84B | $2.80B | -- | -- | -- | -- |
| FY 2018 | $14.90B | -- | -- | -- | -- | $8.38B | $2.97B | $2.87B | $682.0M |
Geography revenue annual
| Period | Total | Other International | UNITED STATES | GERMANY | CHINA | UNITED KINGDOM | BRAZIL | AUSTRALIA | MEXICO |
|---|---|---|---|---|---|---|---|---|---|
| FY 2025 | $33.99B | $11.26B | $12.18B | $2.43B | $2.60B | $1.51B | $1.32B | $1.29B | $1.39B |
| FY 2024 | $33.01B | $10.85B | $11.50B | $2.51B | $2.65B | $1.54B | $1.26B | $1.35B | $1.35B |
| FY 2023 | $32.85B | $12.76B | $10.57B | $2.83B | $2.58B | $1.51B | $1.30B | $1.30B | -- |
| FY 2022 | $33.36B | $12.02B | $10.55B | $3.66B | $2.64B | $1.95B | $1.16B | $1.37B | -- |
| FY 2021 | $30.79B | $11.07B | $9.12B | $3.60B | $2.56B | $2.06B | $1.06B | $1.31B | -- |
| FY 2020 | $27.24B | $9.48B | $8.47B | $3.74B | $2.06B | $1.59B | $822.0M | $1.07B | -- |
| FY 2019 | $28.23B | $10.21B | $8.60B | $3.63B | $2.00B | $1.65B | $994.0M | $1.13B | -- |
| FY 2018 | $12.46B | $3.56B | $5.94B | $868.0M | $1.03B | -- | $1.07B | -- | -- |
Transcripts29 on file
Transcripts
Events
Events
Next earnings
2026-08-07EPS est $4.48
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