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Linde plc (LIN)

NASDAQ: LIN · Real-Time Price · USD
$493
-0.69 (-0.1%)· Live
StockMarketAgent Research

Our analysis: LIN rated Sell

LIN is rated Sell at $493.16 versus the reconciled fair value midpoint of $276.69, implying -43.89% upside/downside. Confidence is separately disclosed at 87/100.

Fair value (mid)
$277 / share
$209 – $356
Upside to FV
-43.9%
from $493
Confidence
87/100
Moat
9/10
Read full analysis →View archive · 24mo
9-phase methodology · same model every month
Biggest opportunityBull case · highest-impact upside lever

Bull: Accelerated transition to clean energy (hydrogen, carbon capture) drives higher-than-expected project backlogs. Sustained pricing power allows for continued operating margin expansion, while healthcare and electronics end-markets drive secular volume growth.

Biggest riskTop kill scenario by severity
Cyclical Multiple Reversion

Cyclical Multiple Reversion: Market abruptly shifts pricing paradigm from 'secular compounder' to 'industrial cyclical', crushing the >25x multiple down to a historical 15x average.

Recommended actionConviction: high
Sell

LIN is rated Sell at $493.16 versus the reconciled fair value midpoint of $276.69, implying -43.89% upside/downside. Confidence is separately disclosed at 87/100.

Position sizing playbook →
Market cap$228.0B
Revenue (ttm)34.7B
Net income (ttm)7.1B
EPS (ttm)$15.1
Shares out462.3M
P/E (trailing)32.7x
P/E (forward)25.0x
Dividend$6.40 (1.30%)
Volume1,686,201
Beta0.74
Price target$547+10.8%
Market data

Price

Recent price action with selectable time range.

Linde plcLIN
—
Loading chart…

Financial snapshot

Revenue (ttm)
34.7B
Net income (ttm)
7.1B
EPS (ttm)
$15.1
P/E (trailing)
32.7x
P/E (forward)
25.0x
Market cap
$228.0B

Scenarios & expected return

Probability-weighted: -43.9% expected return to fair value
Bull15%
Price target
$355.92
-27.8% from spot

Accelerated transition to clean energy (hydrogen, carbon capture) drives higher-than-expected project backlogs. Sustained pricing power allows for continued operating margin expansion, while healthcare and electronics end-markets drive secular volume growth.

  • Sustained >20x multiple
  • Accelerated green transition volumes
Base50%
Price target
$276.69
-43.9% from spot

Our baseline enforces a strict cyclical playbook, capping terminal multiples at 15x. Stable cash flows are recognized but heavily offset by necessary capital expenditures to maintain the highly localized industrial gas network.

  • 15x terminal multiple
  • Cyclical mean reversion applied
Bear35%
Price target
$208.99
-57.6% from spot

A deep, prolonged global industrial recession severely impacts base volumes. Simultaneously, higher interest rates or persistent inflation constrain returns on newly deployed capital, limiting value creation from green energy transitions.

  • Deep industrial recession
  • Multiple compression

Valuation models & bridge

Each model produces an independent fair value. Weighted average = $277.
ModelWeightFV / sharevs spotContribution
Forward earnings40%$240-51.2%
FCFF DCF30%$234-52.5%
Multi stage moat fade15%$328-33.4%
Owner earnings10%$492-0.3%
Peg adjusted peer5%$237-51.9%
Reverse DCF0%$0.00-100.0%
Composite FV (weighted)100%$277-43.9%

Sensitivity: Ke × terminal growth

Ke ↓ / g →1.0%1.5%2.0%2.5%3.0%
5.3%$296$335$385$421$421
6.3%$240$265$296$335$385
7.3%$202$220$240$265$296
8.3%$175$188$202$220$240
9.3%$154$164$175$188$202

Scorecard

Factor radar (left) · 9-category weighted composite (right)
ValuationManagementBalanceProfitabilityRevenueRiskCompetitiveEarningsCapital
Valuation5.0
Management6.9
Balance Sheet4.0
Profitability6.5
Revenue Growth6.0
Risk Assessment6.0
Competitive Moat9.0
Earnings Quality8.0
Capital Efficiency5.0
Weighted composite
6.3/10
Above average
CategoryWeightScoreReading
Valuation11%5.0
Management11%6.9
Balance Sheet11%4.0
Profitability11%6.5
Revenue Growth11%6.0
Risk Assessment11%6.0
Competitive Moat11%9.0
Earnings Quality11%8.0
Capital Efficiency11%5.0

Position sizing & entry playbook

Pre-committed rules, followed irrespective of news flow.
Conviction tier
High
Confidence 87/100
Target weight
Zero weight. Immediate divestiture recommended.
of equity sleeve
Re-evaluate entry strictly if the share price corrects below the $240 fundamental support level and multiples de-risk entirely.
Current / pullbacks
Current price
Today’s last trade
$493
Liquidate all existing positions immediately. The asymmetric risk profile features a near 44% downside gap to our intrinsic value midpoint.
Thesis break
Risk to thesis
  • Liquidate all existing positions immediately. The asymmetric risk profile features a near 44% downside gap to our intrinsic value midpoint.
Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming
DateLoading
Window—
EPS estimate—
Revenue estimate—

Sector percentile context

Refreshed 2026-05-10 22:07 UTC
Forward P/E25
P25 n/aP50 n/aP75 n/a
Trailing P/E0
P25 n/aP50 n/aP75 n/a
ROE18.2
P25 n/aP50 n/aP75 n/a
ROIC12.2
P25 n/aP50 n/aP75 n/a
Benchmarks · 1M
S&P 500n/a
Nasdaq Compositen/a
Dow Jones Industrial Averagen/a
Russell 2000n/a

All LIN indicators

Market & fundamental data
Available fields
280
Groups with data
11
Currency
USD
Showing 280 of 280 available metrics for this ticker.

Profile and market data

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

25
MetricValue
Cik
0001707925
Company name
Linde plc
Country
United Kingdom
Country code
US
Cusip
G54950103
Employees
65,177
Employees Change
-112%
Employees Change Percent
-0.17
Enterprise value
$250.4B
Exchange
NASDAQ
Financial currency
USD
First seen
2026-05-09
In Index
SP500, NASDAQ100
Industry
Specialty Chemicals
Isin
IE000S9YS762
Last refreshed
2026-05-10
Market cap
$228B
Market cap category
Mega-Cap
Price
$493
Price currency
USD
Rev Per Employee
531,705.97x
Sector
Materials
Sic
2810
Symbol
LIN
Website
https://www.linde.com

Valuation

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

17
MetricValue
Earnings Yield
3.11%
EV Earnings
35.35x
EV Sales Forward
6.85x
EV/EBIT
25.58x
EV/EBITDA
18.42x
EV/FCF
49.13x
EV/Sales
7.22x
FCF yield
2.23%
Forward P/E
26.99x
P/B ratio
5.92x
P/E ratio
32.7x
P/S ratio
6.58x
PE Ratio10 Y
34.25x
PE Ratio3 Y
32.39x
PE Ratio5 Y
35.77x
PEG ratio
3.08x
PS Forward
6.24x

Profitability

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

27
MetricValue
EBIT Margin
28.24%
EBITDA Margin
39.22%
FCF margin
14.7%
Gross margin
48.77%
Gross Profit
$16.9B
Gross Profit Growth
6.07%
Gross Profit Growth Q
7.66%
Gross Profit Growth3 Y
5.82%
Gross Profit Growth5 Y
6.82%
Net Income
$7.1B
Net Income Growth
7.12%
Net Income Growth Q
11%
Net Income Growth Quarters
1%
Net Income Growth Years
6%
Net Income Growth3 Y
16.41%
Net Income Growth5 Y
19.48%
Pretax Margin
26.84%
Profit Margin
20.44%
Profit Per Employee
$108,658
Profitable Years
10
ROA
7.24
Roa5y
5.94
ROCE
13.8
ROE
18.23
Roe5y
13.62
ROIC
12.19
Roic5y
10.35

Growth

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

30
MetricValue
Cagr10y
17.75%
Cagr15y
13.05%
Cagr1y
11.16%
Cagr20y
13.55%
Cagr3y
11.85%
Cagr5y
12.05%
Div CAGR10
7.78%
Div CAGR3
8.23%
Div CAGR5
8.91%
EPS Growth
9.43
EPS Growth Q
13.39
EPS Growth Quarters
1
EPS Growth Years
6
EPS Growth3 Y
18.88
EPS Growth5 Y
22.38
FCF Growth
3.77%
FCF Growth Q
0.79%
FCF Growth3 Y
-2.03%
FCF Growth5 Y
1.07%
OCF Growth
8.3%
OCF Growth Q
3.66%
OCF Growth10 Y
14.3%
OCF Growth3 Y
5.94%
OCF Growth5 Y
4.95%
Revenue Growth
4.96x
Revenue Growth Q
8.25x
Revenue Growth Quarters
5x
Revenue Growth Years
2x
Revenue Growth3 Y
1.29x
Revenue Growth5 Y
4.55x

Financial strength

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

22
MetricValue
Asset Turnover
$0.41
Assets
$86.3B
Cash
$4B
Current Assets
$12.8B
Current Liabilities
$15.4B
Debt
$26.3B
Debt EBITDA
$1.89
Debt Equity
$0.66
Debt FCF
$5.16
Equity
$40.1B
Interest Coverage
20.14
Liabilities
$46.2B
Long Term Assets
$73.6B
Long Term Liabilities
$30.8B
Net Cash
$-22.4B
Net Cash By Market Cap
$-9.81
Net Debt EBITDA
$1.65
Net Debt Equity
$0.56
Net Debt FCF
$4.39
Tangible Book Value
$-989M
Tangible Book Value Per Share
$-2.14
WACC
7.61

Liquidity

Current-asset coverage and working-capital efficiency metrics.

6
MetricValue
Current ratio
0.83
Inventory Turnover
8.74
Net Working Capital
$-141M
Quick ratio
0.62
Working Capital
$-2.6B
Working Capital Turnover
$-19.65

Dividends and buybacks

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

10
MetricValue
Buyback Yield
2.1%
Dividend Growth
7.27%
Dividend Growth Years
34%
Dividend per share
$6.4
Dividend Years
35
Dividend Yield
1.3%
Ex Div Date
2026-06-04
Last Dividend
$1.6
Payout Frequency
Quarterly
Payout Ratio
41.12%

Performance and technicals

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

42
MetricValue
10Y total return
412.38%
1Y total return
11.15%
200-day SMA
462.5
3Y total return
39.94%
50-day SMA
496.6
50-day SMA vs 200-day SMA
50over200
5Y total return
76.61%
All Time High
521.3
All Time High Change
-5.39%
All Time High Date
2026-05-01
All Time Low
6.81
All Time Low Change
7,138.51%
All Time Low Date
1992-07-08
ATR
9.82
Beta
0.74
Beta1y
0.23
Beta2y
0.36
Ch YTD
15.66
High
497.6
High52
521.3
High52 Date
2026-05-01
High52ch
-5.39%
Low
492.3
Low52
387.8
Low52 Date
2025-12-08
Low52ch
27.18%
Ma50ch
-0.69%
Premarket Change Percent
0.19
Premarket Price
$495
Premarket Volume
695
Price vs 200-day SMA
6.62%
RSI
45.52
RSI Monthly
59.39
RSI Weekly
56.79
Sharpe ratio
0.48x
Sortino ratio
1.04
Total Return
3.39%
Tr YTD
16.05
Tr15y
529.89%
Tr1m
-0.29%
Tr1w
-2.91%
Tr3m
10.39%

Analyst estimates

Ratings, targets, revisions, and forward estimate fields.

14
MetricValue
Analyst Count
8
Analyst Ratings
Strong Buy
Earnings EPS Estimate
$4.27
Earnings EPS Estimate Growth
8.1
Earnings Revenue Estimate
8,583,047,464x
Earnings Revenue Estimate Growth
5.81x
Operating Income
$9.8B
Operating Income Growth
7.76
Operating Income Growth Q
8.98
Operating Income Growth3 Y
11.22
Operating Income Growth5 Y
17.28
Operating margin
28.24
Price target
$547
Price Target Change
$10.84

Ownership and float

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

11
MetricValue
Float
460,681,725%
Float Percent
99.64%
Net Borrowing
1,082,000,000
Shares Insiders
0.21%
Shares Institutions
84.21%
Shares Out
462,347,310
Shares Qo Q
-0.51%
Shares Yo Y
-2.1%
Short Float
1.45%
Short Ratio
2.75
Short Shares
1.45

Other indicators

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

76
MetricValue
Adjusted FCF
$4.9B
Average Volume
2,001,250.15x
Bv Per Share
83.37
CAPEX
$-5.3B
Ch10y
331.5
Ch15y
376
Ch1m
-0.29
Ch1w
-2.91
Ch1y
9.67
Ch20y
770.1
Ch3m
10.02
Ch3y
34.61
Ch5y
64.98
Ch6m
17.28
Change
-0.14%
Change From Open
-0.17
Close
493.9
Days Gap
0.03
Depreciation Amortization
3,804,000,000
Dollar Volume
831,566,885.2
Earnings Date
2026-05-01
Earnings Time
bmo
EBIT
$9.8B
EBITDA
$13.6B
EPS
$15.08
F Score
6
FCF
$5.1B
FCF EV Yield
2.04x
FCF Per Share
$11.02
Financing CF
-6,134,000,000
Fiscal Year End
December
Founded
1,879
Goodwill
27,882,000,000
Graham Number
168.1846
Graham Upside
-65.9
Income Tax
$2B
Investing CF
-5,736,000,000
Is Primary Listing
1
Is Spac
No
Last Earnings Date
2026-05-01
Last Report Date
2026-03-31
Last Split Date
2003-12-16
Last Split Type
Forward
Last10k Filing Date
2026-02-25
Lynch Fair Value
$294
Lynch Upside
-40.42
Ma150
458.5
Ma150ch
7.55%
Ma20
501.1
Ma20ch
-1.58%
Net CF
-1,335,000,000
Next Earnings Date
2026-07-31
Open
494
Optionable
Yes
P FCF Ratio
44.74
P OCF Ratio
21.86
Payment Date
2026-06-18
Position In Range
16.92
Post Close
493.2
Postmarket Change Percent
-0.44
Postmarket Price
$491
Ppne
28,564,000,000
Pre Close
493.9
Price Date
2026-05-08
Price EBITDA
$16.78
Relative Volume
0.84x
Revenue
34,655,000,000x
SBC By Revenue
0.47x
Share Based Comp
163,000,000
Tax By Revenue
5.91x
Tax Rate
22.03%
Tr20y
1,170.75%
Tr6m
18.1%
Views
84
Volume
1,686,201
Z Score
3.81

Deeper analysis on LIN

14 sections in the full report · jump straight to what you need
Forecast
Bull, base, and bear cases with expected-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.
→
Scorecard
Six-factor overlay and 9-category weighted scorecard.
→
Recommendation
Final action, action steps, opportunity, and biggest risk.
→
Perspectives
Growth, value, and income investor reads.
→
Archive
Prior monthly reports and rating changes.
→

Frequently asked questions

About this LIN report
What is the current LIN stock rating?
Linde plc is currently shown with Sell in the latest report. The hub links directly to the full analysis surface where the rating, fair-value bridge, risks, and scorecard are documented together.
Where can I read the full LIN analysis?
The full report lives at /stocks/LIN/analysis. The bare ticker page is a product hub that summarizes the latest read and sends readers into the relocated analysis tabs without making the analysis surface depend on the hub.
What fair-value range is used for LIN?
The latest report frames LIN around $209 to $356. Treat that range as the entry point, then check the valuation, sensitivity, and bear-case tabs before making an investment decision.
How often is the LIN page updated?
The hub updates with the latest published stock report and live backend market data. The analysis pages remain reachable under /analysis, so a hub rollback does not remove the report reader.
SellLIN · Fair value $277-43.9% · Confidence 87/100
Read full analysis →