Linde plc (LIN)

NASDAQ: LIN · USD

$508

-0.97 (-0.2%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-09

Our latest published analysis: LIN rated Sell

Linde plc's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$267 / share

Potential value

$336 / share

Upside to FV

-43.1%

from $508

Moat

1/10

None

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$220.2B
Revenue (ttm)	35.4B
Net income (ttm)	7.2B
EPS (ttm)	$15.5
Shares out	461M
P/E (trailing)	32.8x
P/E (forward)	24.5x
Dividend	$6.40 (1.26%)
Volume	1,632,304
Beta	0.71

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 35.4B
Net income (ttm): 7.2B
EPS (ttm): $15.5
P/E (trailing): 32.8x
P/E (forward): 24.5x
Market cap: $220.2B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$30.79B	$33.36B	$32.85B	$33.01B	$33.99B	+2.5%
Gross profit	$8.62B	$9.71B	$11.55B	$12.08B	$14.73B	+14.3%
Operating income	$4.98B	$5.37B	$8.02B	$8.64B	$8.92B	+15.7%
Net income	$3.83B	$4.15B	$6.20B	$6.57B	$6.90B	+15.9%
EPS (diluted)	$7.33	$8.23	$12.59	$13.62	$14.61	+18.8%
EBITDA	$9.89B	$9.94B	$12.29B	$12.92B	$12.95B	+7.0%
R&D	$143.0M	$143.0M	$146.0M	$150.0M	$147.0M	+0.7%
SG&A	$3.19B	$3.11B	$3.30B	$3.34B	$3.43B	+1.9%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	ホールド
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	ホールド
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	売り
APD	Air Products and Chemicals, Inc.	68.3B	—	5.4x	8.9%	+5.2%	+23.1%	ホールド
AVY	Avery Dennison Corporation	13.7B	19.8x	1.5x	15.1%	+3.3%	+1.6%	ホールド
BALL	Ball Corporation	16.7B	18.0x	1.2x	8.7%	+2.3%	+28.3%	買い

Base and Bull scenarios

Base55%

Price target

$266.68

-43.1% from spot

The base path supports $266.68, but the shares remain rated Sell because the earnings path does not close the gap to $468.38 (as of 2026-09-08).

FY2027 revenue and diluted earnings meet their dated estimates.
Margins remain above the stated two-year floor, and annual free cash flow stays above its boundary.

Bull20%

Price target

$335.79

-28.3% from spot

This case depends on the stated regional growth and cash-after-investment conditions. It is disconfirmed if recurring capex or valuation normalization overwhelms the earnings path.

Americas and APAC growth exceed the group forecast; this is a scenario condition, not established by their FY2025 revenue and operating-profit levels.
Cash remaining after investment improves, while fewer outstanding shares strengthen per-share results; both are conditional rather than established trends.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($266.68). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.0%	1.5%	2.0%	2.5%	3.0%
6.1%	$295	$303	$314	$327	$346
7.1%	$273	$278	$285	$292	$302
8.1%	$256	$260	$267	$269	$275
9.1%	$242	$245	$248	$251	$255
10.1%	$231	$232	$235	$237	$240

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E24.5

P25 n/aP50 n/aP75 n/a

Trailing P/E30.8

P25 n/aP50 n/aP75 n/a

ROE18.4

P25 n/aP50 n/aP75 n/a

ROIC12.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All LIN indicators

Market & fundamental data

Available fields

291

Groups with data

Currency

USD

Showing 291 of 291 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001707925
Company name	Linde plc
Country	United Kingdom
Country code	US
CUSIP number	G54950103
Earnings date	2026-10-29
Earnings time	bmo
Employees	64,649
Employees change	-193
Employees growth	-0.3%
Enterprise value	$257.1B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1879
In index	SP500, NASDAQ100
Industry	Specialty Chemicals
Is primary listing	Yes
Is SPAC	No
ISIN number	IE000S9YS762
Last 10-K release date	2026-02-25
Last earnings date	2026-07-31
Last refreshed	2026-10-28
Last stock split date	2003-12-16
Last stock split type	Forward
Market cap	$234B
Market cap category	Mega-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$507.67
Price currency	USD
Sector	Materials
SIC code	2810
Stock price date	2026-10-28
Symbol	LIN
Website	https://www.linde.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	29.45x
Average P/E ratio (10Y)	34.57x
Average P/E ratio (3Y)	32.41x
Average P/E ratio (5Y)	35.15x
Earnings yield	3.05%
EV/Earnings	35.53x
EV/EBIT	25.74x
EV/EBITDA	18.62x
EV/FCF	51.73x
EV/Sales	7.26x
FCF / EV yield	1.93%
FCF yield	2.12%
Forward EV/Sales	6.9x
Forward P/E	27.12x
Forward P/S	6.28x
Graham number	171.93268
Graham upside	-66.17%
Industry forward P/E	19.6x
Industry P/E	43.87x
Lynch fair value	$264.89
Lynch upside	-47.87%
P/(FCF - SBC) ratio	48.41x
P/(OCF - SBC) ratio	22.63x
P/B ratio	6x
P/E ratio	32.76x
P/FCF ratio	47.09x
P/OCF ratio	22.33x
P/S ratio	6.61x
PEG ratio	2.88x
Price/EBITDA ratio	16.95x
Sector forward P/E	15.04x
Sector P/E	22.59x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	28.2%
EBITDA margin	38.99%
Effective tax rate	21.95%
FCF margin	14.03%
Gross margin	48.35%
Operating margin	28.2%
Pretax margin	26.81%
Profit margin	20.43%
Profit per employee	$112,051
Profitable quarters	34
Profitable years	10
Revenue per employee	$548,330
ROA	7.16%
ROA (5Y)	5.94%
ROCE	13.84%
ROE	18.4%
ROE (5Y)	13.62%
ROIC	12.37%
ROIC (5Y)	10.35%
SBC / revenue	0.38%
Tax / revenue	5.88%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	10.16%
EPS growth (Q)	11.26%
EPS growth (QoQ)	4.27%
EPS growth 10Y	10.93%
EPS growth 3Y	10.6%
EPS growth 5Y	19.97%
EPS growth quarters	2
EPS growth years	6
FCF growth	-1.85%
FCF growth (Q)	-12.68%
FCF growth (QoQ)	-7.24%
FCF growth 3Y	-2.71%
FCF growth 5Y	0.17%
Gross profit growth	6.41%
Gross profit growth (Q)	5.71%
Gross profit growth 3Y	5.41%
Gross profit growth 5Y	6.04%
Net income growth	7.89%
Net income growth (Q)	9.17%
Net income growth (QoQ)	3.82%
Net income growth 3Y	8.37%
Net income growth 5Y	17.09%
Net income growth quarters	2
Net income growth years	6
OCF growth	5.82%
OCF growth (Q)	2.71%
OCF growth (QoQ)	1.38%
OCF growth 10Y	14.42%
OCF growth 3Y	6.07%
OCF growth 5Y	4.91%
Operating income growth	8.15%
Operating income growth (Q)	8.79%
Operating income growth 3Y	10.05%
Operating income growth 5Y	15.21%
Revenue growth	6.63%
Revenue growth (Q)	9.35%
Revenue growth (QoQ)	5.79%
Revenue growth 10Y	12.99%
Revenue growth 3Y	2.32%
Revenue growth 5Y	4.13%
Revenue growth quarters	6
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-5.5B
Depreciation and amortization	$3.8B
EBIT	$10B
EBITDA	$13.8B
EPS	$15.50
FCF per share	$10.79
Financing cash flow	$-4.4B
Free cash flow	$5B
Free cash flow minus SBC	$4.8B
Gross profit	$17.1B
Income taxes	$2.1B
Investing cash flow	$-5.9B
Net borrowing	$2.7B
Net cash flow	$112M
Net income	$7.2B
Operating cash flow minus SBC	$10.4B
Operating income	$10B
Revenue	$35.4B
Stock-based compensation	$136M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	3.8
Book value per share	$84.78
Debt / EBITDA	1.98
Debt / equity	0.69
Debt / FCF	5.63
Goodwill	$27.9B
Interest coverage	15.84
Long-term assets	$74.2B
Long-term liabilities	$31.6B
Net cash (debt)	$-23.1B
Net cash / market cap	-9.87%
Net debt / EBITDA	1.67
Net debt / equity	0.57
Net debt / FCF	4.65
Piotroski F-Score	5
Property, plant and equipment	$29.2B
Shareholders' equity	$40.6B
Tangible book value	$-410M
Tangible book value per share	$-0.89
Total assets	$88.3B
Total cash	$4.9B
Total debt	$28B
Total liabilities	$47.7B
WACC	7.49%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.41
Current assets	$14.2B
Current liabilities	$16.1B
Current ratio	0.88
Inventory turnover	8.63
Net working capital	$486M
Quick ratio	0.68
Working capital	$-2B
Working capital turnover	-23.34

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.04%
Dividend growth	6.67%
Dividend growth (10Y)	7.87%
Dividend growth (3Y)	7.86%
Dividend growth (5Y)	8.58%
Dividend growth years	33
Dividend payment date	2026-12-17
Dividend payment years	35
Dividend payout frequency	Quarterly
Dividend per share	$6.40
Dividend yield	1.26%
Ex-dividend date	2026-12-03
FCF payout ratio	59.3%
Last dividend	$1.60
Payout ratio	41.3%
Shareholder yield	3.3%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	334.08%
10Y return CAGR	17.75%
10Y total return	412.17%
150-day SMA	$498.09
15Y price change	379.22%
15Y return CAGR	13.08%
15Y total return	531.9%
1D price change	-0.19%
1M price change	7.68%
1M total return	7.68%
1W price change	0.81%
1W total return	0.81%
1Y price change	13.75%
1Y return CAGR	15.3%
1Y total return	15.29%
20-day SMA	$494.09
200-day SMA	$492.26
20Y price change	755.39%
20Y return CAGR	13.44%
20Y total return	1,146.3%
3M price change	-0.21%
3M total return	0.12%
3Y price change	36.55%
3Y return CAGR	12.37%
3Y total return	41.9%
50-day SMA	$482.38
50-day SMA vs 200-day SMA	50under200
52-week high	$548.20
52-week high date	2026-07-07
52-week low	$387.78
52-week low date	2025-12-08
5Y price change	58.63%
5Y return CAGR	11.16%
5Y total return	69.73%
6M price change	-0.94%
6M total return	-0.3%
All-time high	$548.20
All-time high date	2026-07-07
All-time low	$6.81
All-time low date	1992-07-08
Average true range (ATR)	$7.29
Average volume	2M
Beta (1Y)	-0.11
Beta (2Y)	0.26
Beta (5Y)	0.71
Change from 52-week high	-7.39%
Change from 52-week low	30.92%
Change from all-time high	-7.7%
Change from all-time low	7,326.46%
Change from open	0.36%
Day's gap	-0.55%
Dollar volume	$828.7M
High price	$509.42
Low price	$503.64
Monthly RSI	58.42
Open price	$505.86
Position in 52-week range	69.72%
Premarket change	-0.6%
Premarket close	$508.65
Premarket price	$505.58
Premarket volume	1.4K
Previous close	$508.65
Price vs 150-day SMA	1.58%
Price vs 20-day SMA	2.4%
Price vs 200-day SMA	2.78%
Price vs 50-day SMA	4.89%
Relative volume	0.83
RSI	65.51
Sharpe ratio	0.64
Sharpe ratio (3Y)	0.55
Sharpe ratio (5Y)	0.44
Sortino ratio	1.21
Sortino ratio (3Y)	1.11
Sortino ratio (5Y)	0.92
Volume	1.6M
Weekly RSI	56.7
YTD price change	18.66%
YTD total return	19.83%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	459.5M
Float percentage	99.68%
Shares change (QoQ)	-0.39%
Shares change (YoY)	-2.04%
Shares held by insiders	0.2%
Shares held by institutions	87.99%
Shares outstanding	461M
Short % of float	1.3%
Short % of shares	1.3%
Short ratio	3 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	130

Deeper analysis on LIN

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this LIN report

What is the latest published LIN stock rating?

Linde plc is shown with Sell in the latest published report, analyzed 2026-09-09. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full LIN analysis?

The full latest published report, analyzed 2026-09-09, lives at /stocks/LIN/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for LIN?

The latest published report analyzed 2026-09-09 gives LIN a fair value of USD 267 and a potential value of USD 336. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the LIN page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-09). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellLIN · Fair value $267-43.1%

Read full analysis →

Linde plc (LIN)

Our latest published analysis: LIN rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · LIN

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All LIN indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on LIN

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	1.5
Management	9.5
Balance Sheet	4.0
Profitability	6.5
Revenue Growth	6.0
Risk Assessment	6.0
Competitive Moat	1.0
Earnings Quality	8.0
Capital Efficiency	5.5