Linde PlcLinde Plc
Linde Plc

Linde Plc

LIN
Materials·Chemicals

Linde Plc is a global industrial gases and engineering company. It designs and builds equipment that produces industrial gases. The company also offers 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. Its primary products are atmospheric gases and process gases. The company operates through the following reportable segments: Americas, EMEA APAC and Engineering. The Americas segment operates production facilities primarily in the United Sates, Canada, Mexico and Brazil. The EMEA segment has production facilities primarily in Germany, France, Sweden, the Republic of South Africa, and the United Kingdom. The APAC segment has production facilities located primarily in China, Australia, India, South Korea and Thailand. The Engineering segment designs and constructs turnkey process plants for third-party customers as well as for the gases businesses in many locations worldwide. Linde was founded by Carl Paul Gottfried von Lind in 1879 and is headquartered in Woking, the United Kingdom.

United Kingdom
Market cap
No dataNo data
Revenue
$34B+3.0% YoY
Net income
$6.9B+5.1% YoY
Free cash flow
$5.1B+3.3% YoY

Market

Listed stock
Tokenized stocks
LINPriceNasdaq
Loading…Loading…1Y

Financial performance

Revenue
$34B+3.0% YoY
Operating income
$8.9B+3.3% YoY
Net income
$6.9B+5.1% YoY
Free cash flow
$5.1B+3.3% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $30.8B, 2022 $33.4B, 2023 $32.9B, 2024 $33B, 2025 $34B. Operating income: 2021 $5B, 2022 $5.4B, 2023 $8B, 2024 $8.6B, 2025 $8.9B. Net income: 2021 $3.8B, 2022 $4.1B, 2023 $6.2B, 2024 $6.6B, 2025 $6.9B. Free cash flow: 2021 $5.6B, 2022 $5.7B, 2023 $5.5B, 2024 $4.9B, 2025 $5.1B. Reference line: Reference at $0.

Growth & profitability

Revenue growth
3.0%+251 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $5B, 2022-12-31 $5.4B, 2023-12-31 $8B, 2024-12-31 $8.6B, 2025-12-31 $8.9B. Net income: 2021-12-31 $3.8B, 2022-12-31 $4.1B, 2023-12-31 $6.2B, 2024-12-31 $6.6B, 2025-12-31 $6.9B. Free cash flow: 2021-12-31 $5.6B, 2022-12-31 $5.7B, 2023-12-31 $5.5B, 2024-12-31 $4.9B, 2025-12-31 $5.1B

Growth heatmap

2022202320242025CAGR
Revenue
+8.3%
-1.5%
+0.5%
+3.0%
+2.5%
Gross profit
-10.9%
+10.1%
+2.0%
-1.4%
No data
Operating income
+7.7%
+49.5%
+7.6%
+3.3%
+15.7%
Free cash flow
+2.4%
-3.0%
-10.7%
+3.3%
-2.2%

Earnings quality

Operating cash flow
$10.4B+9.8% YoY
Net income
$6.9B+5.1% YoY
Free cash flow
$5.1B+3.3% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 150%, 2024-12-31 144%, 2023-12-31 150%, 2022-12-31 214%, 2021-12-31 226%. Free cash flow: 2025-12-31 74%, 2024-12-31 75%, 2023-12-31 89%, 2022-12-31 137%, 2021-12-31 145%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data