Linde (LIN) FY2023 results: revenue $32.9 billion, down 1.5% on the year
Linde plc (LIN) reported revenue of $32.9 billion for fiscal 2023, the year ended 31 December 2023, down 1.5% on the year before. Net income was $6.2 billion, up 49.5%, and diluted earnings per share $12.59. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$32.9 billion
-1.5% on the year
FY2016FY2023
Operating margin
24.4%
16.1% a year earlier
FY2016FY2023
Net income
$6.2 billion
+49.5% on the year
FY2016FY2023
Diluted EPS
$12.59
+53.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
9,305
8,864
9,725
+5.0%
Capital expenditure
3,787
3,173
3,086
+19.4%
Free cash flow
5,518
5,691
6,639
-3.0%
Free cash flow margin
16.8%
17.1%
21.6%
Cash from investing
-4,670
-3,088
-3,007
Cash from financing
-5,400
-3,089
-7,588
Depreciation and amortisation
3,816
4,204
4,635
-9.2%
Share-based compensation
141
107
128
+31.8%
Buybacks
3,958
5,168
4,612
-23.4%
Dividends paid
2,482
2,344
2,189
+5.9%
Dividend per share
$5.10
$4.68
$4.24
+9.0%
Diluted shares, weighted
492m
504m
522m
-2.3%
Shares outstanding at period end
n/a
n/a
509m
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
39,720
40,028
44,035
-0.8%
Non-controlling interest
1,362
1,346
1,393
+1.2%
Redeemable equity
13.0
13.0
13.0
0.0%
Debt
19,373
17,914
14,207
+8.1%
Operating lease liabilities
572
540
618
+5.9%
Finance lease liabilities
143
114
129
+25.4%
Other liabilities
19,628
19,703
21,210
-0.4%
Total liabilities and equity
80,811
79,658
81,605
+1.4%
Fixed assets
24,552
23,548
26,003
+4.3%
Goodwill
26,751
25,817
27,038
+3.6%
Intangible assets
12,399
12,420
13,802
-0.2%
Cash and equivalents
4,664
5,436
2,823
-14.2%
Receivables
4,718
4,559
4,499
+3.5%
Inventory
2,115
1,978
1,733
+6.9%
Other assets
5,612
5,900
5,707
-4.9%
Total assets
80,811
79,658
81,605
+1.4%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.