LINDE PLC
LIN· Nasdaq· Industrial Inorganic Chemicals
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 15.0%
- ROIC, 5 yr avg
- 9.3%
- Revenue, 5 yr CAGR
- +4.5%
We record prices for the companies we cover; LIN is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 472.2M
- Revenue
- $34.0B
- Free cash flow
- $5.1B
- Owner earnings
- $4.9B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 26.3%
- Net
- 20.3%
- Free cash flow
- 15.0%
- Owner earnings
- 14.5%
- Stock pay
- 0.5%
Returns
- ROIC, FY2025
- 10.8%
- ROIC, 5 yr avg
- 9.3%
- ROE, FY2025
- 18.0%
- ROE, 5 yr avg
- 14.0%
Growth (CAGR)
- Revenue, 3 yr
- 0.6%
- Revenue, 5 yr
- 4.5%
- Revenue, 9 yr
- 13.9%
- Diluted EPS, 3 yr
- 21.1%
- Diluted EPS, 5 yr
- 25.4%
- Diluted EPS, 9 yr
- 12.1%
- Free cash flow, 3 yr
- -3.7%
- Free cash flow, 5 yr
- 4.8%
- Free cash flow, 9 yr
- 16.1%
Financial health · FY2025
- Cash and investments
- $5.1B
- Total debt
- $31.2B
- Net debt
- $26.2B
- Debt/Equity
- 0.8x
- Debt/FCF
- 6.1x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 40.8%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- -2.3%
Financials: ten years from the 10-Ks
Revenue
$34.0B
+13.9% a year over 9 years
FY2016FY2025
Margins
Operating26.3%Net20.3%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$5.1BOwner earnings$4.9B
Free cash flow +16.1% a year
FY2016FY2025
Diluted shares
472.2M
+64.1% over 9 years, net dilution
FY2016FY2025
Return on invested capital
10.8%
FY2025
FY2016FY2025
Net debt (below zero)
-$26.2B
$26.2B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $10.5B | $11.4B | $14.8B | $28.2B | $27.2B | $30.8B | $33.4B | $32.9B | $33.0B | $34.0B |
| Revenue growth | – | 7.8% | 30.6% | 90.3% | -3.5% | 13.0% | 8.3% | -1.5% | 0.5% | 3.0% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 21.3% | 21.5% | 35.4% | 10.4% | 12.2% | 16.2% | 16.1% | 24.4% | 26.2% | 26.3% |
| Net income | $1.5B | $1.2B | $4.4B | $2.3B | $2.5B | $3.8B | $4.1B | $6.2B | $6.6B | $6.9B |
| Net margin | 14.2% | 11.0% | 29.5% | 8.1% | 9.2% | 12.4% | 12.4% | 18.9% | 19.9% | 20.3% |
| Diluted EPS | $5.21 | $4.32 | $13.11 | $4.19 | $4.71 | $7.33 | $8.23 | $12.59 | $13.62 | $14.61 |
| Return on invested capital? | – | 9.9% | 7.1% | 3.6% | 4.1% | 6.7% | 7.1% | 10.5% | 11.2% | 10.8% |
| Cash | ||||||||||
| Operating cash flow | $2.8B | $3.0B | $3.7B | $6.1B | $7.4B | $9.7B | $8.9B | $9.3B | $9.4B | $10.3B |
| Capital expenditure | $1.5B | $1.3B | $1.9B | $3.7B | $3.4B | $3.1B | $3.2B | $3.8B | $4.5B | $5.3B |
| Free cash flow | $1.3B | $1.7B | $1.8B | $2.4B | $4.0B | $6.6B | $5.7B | $5.5B | $4.9B | $5.1B |
| Stock-based compensation | $39.0M | $59.0M | $62.0M | $95.0M | $133.0M | $128.0M | $107.0M | $141.0M | $160.0M | $164.0M |
| Owner earnings? | $1.3B | $1.7B | $1.7B | $2.3B | $3.9B | $6.5B | $5.6B | $5.4B | $4.8B | $4.9B |
| Free cash flow per share | $4.60 | $5.98 | $5.30 | $4.47 | $7.59 | $12.72 | $11.29 | $11.21 | $10.22 | $10.78 |
| Capital allocation | ||||||||||
| Dividends paid | $856.0M | $901.0M | $1.2B | $1.9B | $2.0B | $2.2B | $2.3B | $2.5B | $2.7B | $2.8B |
| Share repurchases | $228.0M | $12.0M | $599.0M | $2.7B | $2.5B | $4.6B | $5.2B | $4.0B | $4.5B | $4.6B |
| Diluted shares | 287.8M | 289.1M | 334.1M | 545.2M | 531.2M | 521.9M | 504.0M | 492.3M | 482.1M | 472.2M |
| Share count change? | – | 0.5% | 15.6% | 63.2% | -2.6% | -1.7% | -3.4% | -2.3% | -2.1% | -2.1% |
| Balance sheet | ||||||||||
| Cash and equivalents | $524.0M | $617.0M | $4.5B | $2.7B | $3.8B | $2.8B | $5.4B | $4.7B | $4.8B | $5.1B |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | – | $8.2B | $14.6B | $13.4B | $17.9B | $14.5B | $21.8B | $23.9B | $25.6B | $31.2B |
| Net debt | – | $7.6B | $10.1B | $10.7B | $14.2B | $11.7B | $16.4B | $19.2B | $20.7B | $26.2B |
| Shareholders' equity | $5.4B | $6.0B | $51.6B | $49.1B | $47.3B | $44.0B | $40.0B | $39.7B | $38.1B | $38.2B |
Latest filings
| 2026-10-29 | 10-Q | Quarterly report |
| 2026-10-29 | 8-K | Earnings release |
| 2026-07-31 | 10-Q | Quarterly report |
| 2026-07-31 | 8-K | Earnings release |
| 2026-05-01 | 10-Q | Quarterly report |
| 2026-05-01 | 8-K | Earnings release |
| 2026-04-29 | DEF 14A | Proxy statement |
| 2026-02-25 | 10-K | Annual report |
| 2026-02-05 | 8-K | Earnings release |
| 2025-10-31 | 10-Q | Quarterly report |
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