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Linde (LIN) Q4 FY2021 earnings: revenue $8.3 billion, up 14.1% on the year

Linde plc (LIN) reported revenue of $8.3 billion for Q4 FY2021, the quarter ended 31 December 2021, up 14.1% on the same quarter a year earlier. Net income was $1.0 billion, up 33.2% on the year, and diluted earnings per share $1.99. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.

Revenue
$8.3 billion
+14.1% on the year · +8.2% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
16.1%
14.2% a year earlier
Q1 FY2020Q4 FY2021
Net income
$1.0 billion
+33.2% on the year · +4.8% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$1.99
+37.2% on the year · +5.9% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue8,2987,6687,272+8.2%+14.1%
Cost of revenue4,927n/an/a
Gross profit3,371n/an/a
Gross margin40.6%n/an/a
Research and development38.0n/an/a
Selling, general and administrative787n/an/a
Operating income1,3371,2921,029+3.5%+29.9%
Operating margin16.1%16.8%14.2%
Pre-tax income1,355n/an/a
Income tax339n/an/a
Effective tax rate25.0%n/an/a
Net income1,026979770+4.8%+33.2%
Net margin12.4%n/an/a
Diluted EPS$1.99$1.88$1.45+5.9%+37.2%
$ million except per share.
Read moreFourth quarters are the year less the first three 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.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow3,233n/an/a
Capital expenditure839n/an/a
Free cash flow2,394n/an/a
Free cash flow margin28.9%n/an/a
Cash from investing-876n/an/a
Cash from financing-4,217n/an/a
Depreciation and amortisation1,1351,1631,192-2.4%-4.8%
Share-based compensation33.0n/an/a
Buybacks1,361n/an/a
Dividends paid541n/an/a
Diluted shares, weighted522m520m531m+0.3%-1.7%
Shares outstanding at period end509m513m523m-0.8%-2.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity44,03544,32347,317-0.6%-6.9%
Non-controlling interest1,393n/an/a
Redeemable equity13.0n/an/a
Debt14,20716,72716,154-15.1%-12.1%
Operating lease liabilities618n/an/a
Finance lease liabilities129n/an/a
Other liabilities21,210n/an/a
Total liabilities and equity81,605n/an/a
Fixed assets26,003n/an/a
Goodwill27,038n/an/a
Intangible assets13,802n/an/a
Cash and equivalents2,8234,7003,754-39.9%-24.8%
Receivables4,499n/an/a
Inventory1,733n/an/a
Other assets5,707n/an/a
Total assets81,605n/an/a

Questions

What was Linde's revenue in Q4 FY2021?

Linde (LIN) reported revenue of $8.3 billion for Q4 FY2021, the quarter ended 31 December 2021, up 14.1% on the same quarter a year earlier.

How much did Linde earn in Q4 FY2021?

Net income for Q4 FY2021 was $1.0 billion, up 33.2% on the year, and diluted earnings per share $1.99.

When did Linde report Q4 FY2021 results?

Linde filed its 10-K for the year that ended with the quarter on 28 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue8,2988,2118,4578,7977,8998,1938,2048,1558,3028,1008,2678,3568,2828,1128,4958,6158,7648,7819,2899,404
Cost of revenue4,9274,7984,9405,2854,4274,4314,3164,3144,4314,2164,2514,3564,3204,1574,3064,3794,5474,5234,8614,962
Gross profit3,3713,4133,5173,5123,4723,7623,8883,8413,8713,8844,0164,0003,9623,9554,1894,2364,2174,2584,4284,442
Gross margin41%42%42%40%44%46%47%47%47%48%49%48%48%49%49%49%48%48%48%47%
R&D38.035.037.035.036.036.035.036.039.038.036.037.039.038.038.036.035.038.037.037.0
SG&A787802771770764822833808832860840823814786870897880893891892
Operating income1,3371,4805891,6131,6871,9332,0112,0522,0282,0952,1842,0862,2702,1842,3542,3672,0182,4392,5542,150
Operating margin16%18%7%18%21%24%25%25%24%26%26%25%27%27%28%27%23%28%27%23%
Interest expensen/an/an/an/an/an/a52.040.0n/a65.070.068.053.060.067.064.064.062.061.071.0
Pre-tax income1,3551,5356461,6481,7141,9412,0042,0471,9962,0802,1632,0632,2632,1802,3462,3602,0112,4312,5462,128
Tax rate25%24%44%24%23%22%22%24%23%22%23%24%24%23%24%18%24%23%24%21%
Net income1,0261,1743721,2731,3281,5161,5751,5651,5431,6271,6631,5501,7251,6731,7661,9291,5301,8571,9281,692
Net margin12%14%4%14%17%19%19%19%19%20%20%19%21%21%21%22%17%21%21%18%
Diluted EPS$1.99$2.30$0.74$2.54$2.65$3.06$3.19$3.19$3.16$3.35$3.44$3.22$3.61$3.51$3.73$4.09$3.28$3.98$4.15$3.66
Operating cash flow3,2332,0002,1332,6362,0951,9082,1502,5202,7271,9541,9292,7312,8092,1612,2112,9483,0302,2402,2713,169
Capital expenditure8396498267629368298599481,1511,0481,1331,0661,2501,2701,2571,2761,4581,3421,4381,392
Free cash flow2,3941,3511,3071,8741,1591,0791,2911,5721,5769067961,6651,5598919541,6721,5728988331,777
Buybacks1,3611,7191,6101,1496908599081,1581,0331,0411,4406671,3341,1111,1119891,390807871954
Dividends paid541592585581586623623620616669665662659708704701698741738735
Shares outstanding509m503m498m494m492m490m488m485m482m481m478m476m473m471m469m467m463m463m461m459m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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.

10-K for the period ended 31 December 2021, filed 28 February 2022: the filing.