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Stocks / United States / LIN · Industrial Inorganic Chemicals · Nasdaq

Linde plc (LIN)

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Linde plc (LIN) reported revenue of $9.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 9.3% on the same quarter a year earlier. Net income was $1.9 billion, up 9.2% on the year, and diluted earnings per share $4.15. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue$9.3 billionup 9.3%
Net income$1.9 billionup 9.2%
Diluted EPS$4.15
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE18.5%
ROCE14.0%
Operating margin26.5%
Net margin20.4%
FCF margin14.0%
Interest cover37.36
Debt to equity0.72
Cash conversion1.45
Share count, 1 year-1.7%
Sales CAGR, 3 years0.6%
Profit CAGR, 3 years18.5%
EPS, TTM$15.50

At the close of 21 September 2026

Price$457.50
Market cap$210.9 billion
Stock P/E29.52
Price to book5.40
EV / EBITDA17.72
Dividend yield1.3%
Market cap / sales5.95
52-week high$546.64
52-week low$389.38
Price, 1 year-4.5%
Price CAGR, 3 years7.0%
Price CAGR, 5 years8.4%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the total debt Linde plc states in its own filing, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on LIN

Filings20 in twelve months: 9 current reports (8-K), about 4 results of operations; 2 other events; 1 shareholder vote; 1 material agreement; 1 new financial obligation
Planned insider sales9 Form 144 notices in twelve months, $85.5 million; latest 15 May 2026
Options tapeput/call 1.68 by open interest on 23 September 2026; the straddle prices a 4.3% move to 16 October 2026
Holders13 of the followed funds hold it; largest Capital Research Global Investors; 2 Schedule 13D or 13G filings in twelve months
Insider trading7 sales and 2 purchases on Form 4 in twelve months
Congress2 House trades disclosed in six months
Short interest5.4 million shares short, 2.74 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue8,1558,3028,1008,2678,3568,2828,1128,4958,6158,7648,7819,289
R&D36.039.038.036.037.039.038.038.036.035.038.037.0
SG&A808832860840823814786870897880893891
Operating income2,0522,0282,0952,1842,0862,2702,1842,3542,3672,0182,4392,554
Operating margin25%24%26%26%25%27%27%28%27%23%28%27%
Interest expense40.0n/a65.070.068.053.060.067.064.064.062.061.0
Pre-tax income2,0471,9962,0802,1632,0632,2632,1802,3462,3602,0112,4312,546
Tax rate24%23%22%23%24%24%23%24%18%24%23%24%
Net income1,5651,5431,6271,6631,5501,7251,6731,7661,9291,5301,8571,928
Net margin19%19%20%20%19%21%21%21%22%17%21%21%
Diluted EPS$3.19$3.15$3.35$3.44$3.22$3.61$3.51$3.73$4.09$3.28$3.98$4.15
Operating cash flow2,5202,7271,9541,9292,7312,8092,1612,2112,9483,0302,2402,271
Capital expenditure9481,1511,0481,1331,0661,2501,2701,2571,2761,4581,3421,438
Free cash flow1,5721,5769067961,6651,5598919541,6721,572898833
Buybacks1,1581,0331,0411,4406671,3341,1111,1119891,390807871
Dividends paid620616669665662659708704701698741738
Shares outstanding485m482m481m478m476m473m471m469m467m463m463m461m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 10 fiscal years and the trailing twelve months

FY2016FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue10,53411,35814,83628,22827,24330,79333,36432,85433,00533,98635,449
Research and development92.093.0113184152143143146150147146
Selling, general and administrative1,1451,2071,6293,4573,1933,1893,1073,2953,3373,4333,561
Operating income2,2472,4445,2472,9333,3224,9845,3698,0248,6358,9239,378
Operating margin21.3%21.5%35.4%10.4%12.2%16.2%16.1%24.4%26.2%26.3%26.5%
Interest expense20823029728427722763.0200256255251
Pre-tax income2,0482,2875,0492,9273,3845,0995,5437,9888,5698,8979,348
Income tax5511,0268177698471,2621,4341,8142,0021,9892,086
Effective tax rate26.9%44.9%16.2%26.3%25.0%24.7%25.9%22.7%23.4%22.4%22.3%
Net income1,5001,2474,3812,2852,5013,8264,1476,1996,5656,8987,244
Net margin14.2%11.0%29.5%8.1%9.2%12.4%12.4%18.9%19.9%20.3%20.4%
Diluted EPS$5.21$4.32$13.11$4.19$4.71$7.33$8.23$12.59$13.62$14.61$15.50
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2016FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flown/an/an/an/a7,4299,7258,8649,3059,42310,35010,489
Capital expenditure1,4651,3111,8833,6823,4003,0863,1733,7874,4975,2615,514
Free cash flown/an/an/an/a4,0296,6395,6915,5184,9265,0894,975
Free cash flow marginn/an/an/an/a14.8%21.6%17.1%16.8%14.9%15.0%14.0%
Depreciation and amortisation1,1221,1841,8304,6754,6264,6354,2043,8163,7803,7633,825
Share-based compensation39.059.062.095.0133128107141160164136
Buybacks22812.05992,6582,4574,6125,1683,9584,4824,6014,057
Dividends paid8569011,1661,8912,0282,1892,3442,4822,6552,8112,878
Dividend per share$3.00$3.15$3.30$3.50$3.85$4.24$4.68$5.10$5.56$6.00n/a
Diluted shares, weighted288m289m334m545m531m522m504m492m482m472m465m
Shares outstanding at period endn/an/a547m534m523m509mn/an/an/an/a461m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2016FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assetsn/a20,43693,38686,61288,22981,60579,65880,81180,14786,81788,349
Cash and equivalents5246174,4662,7003,7542,8235,4364,6644,8505,0564,898
Receivablesn/a1,7104,2974,3224,1674,4994,5594,7184,6224,9665,632
Inventoryn/a6141,6511,6971,7291,7331,9782,1151,9462,0552,122
Goodwill3,1173,23326,87427,01928,20127,03825,81726,75125,93727,92727,927
Total debt, as filedn/a9,00015,29613,95616,15414,20717,91419,37321,62326,98928,013
Long-term debtn/a8,76213,81112,22412,90313,04413,79714,66017,40022,47923,152
Long-term debt including finance leasesn/a7,78312,28810,69312,15211,33512,19813,39715,34320,68320,678
Operating lease liabilitiesn/an/an/a716669618540572606667n/a
Finance lease liabilitiesn/an/an/a117125129114143150152n/a
Shareholders' equity5,4416,01851,59649,07447,31744,03540,02839,72038,09238,24539,081
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/a4.5%0.6%6.6%
Profit growth, compoundedn/a22.5%18.5%7.9%
Return on equity, average13.7%14.0%17.0%18.0%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Industrial Inorganic Chemicals

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Linde plc LIN$210.9 billion29.5218.5%26.5%6.6%0.721.3%
Air Products & Chemicals, Inc. APD$62.2 billionn/a-0.3%-4.7%4.5%1.202.6%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202631 July 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202525 February 2026EDGAR
10-Q30 September 202531 October 2025EDGAR
10-Q30 June 20251 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202426 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20242 August 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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