Linde plc (LIN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$4.12	$4.15	+0.7%	—	—	—
Q4 26	$4.27	$4.33	+1.4%	—	—	—
Q3 26	$4.18	$4.2	+0.5%	—	—	—
Q2 26	$4.18	$4.21	+0.7%	—	—	—
Q1 26	$4.04	$4.09	+1.2%	—	—	—
Q4 25	$3.92	$3.95	+0.8%	—	—	—
Q3 25	$3.92	$3.97	+1.3%	—	—	—
Q2 25	$3.91	$3.94	+0.8%	—	—	—
Q1 25	$3.79	$3.85	+1.6%	—	—	—
Q4 24	$3.67	$3.75	+2.2%	—	—	—
Q3 24	$3.5	$3.59	+2.6%	—	—	—
Q2 24	$3.57	$3.63	+1.7%	—	—	—
Q1 24	$3.49	$3.57	+2.3%	—	—	—
Q4 23	$3.14	$3.42	+8.9%	—	—	—
Q3 23	$2.89	$3.16	+9.3%	—	—	—
Q2 23	$2.93	$3.1	+5.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$14.7	—	—	$34B	—
FY24	—	$13.7	—	—	$33B	—
FY23	—	$12.7	—	—	$32.9B	—
FY22	—	$8.3	—	—	$33.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$10.5B	$11.4B	$14.8B	$28.2B	$27.2B	$30.8B	$33.4B	$32.9B	$33B	$34B
YoY change	-2.25%	+7.82%	+30.6%	+90.3%	-3.49%	+13%	+8.35%	-1.53%	+0.46%	+2.97%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	10.5B	11.4B	14.8B	28.2B	27.2B	30.8B	33.4B	32.9B	33B	34B
Cost of revenue	5.9B	6.4B	9B	16.6B	15.4B	17.5B	19.4B	17.5B	17.1B	17.4B
Gross profit	4.7B	5B	5.8B	11.6B	11.9B	13.3B	13.9B	15.4B	15.9B	16.6B
Gross margin	44.4%	43.8%	39.2%	41%	43.5%	43%	41.7%	46.8%	48.1%	48.8%
Research & development	92M	93M	113M	184M	152M	143M	143M	146M	150M	147M
Selling, general & administrative	1.1B	1.2B	1.6B	3.5B	3.2B	3B	2.9B	3.1B	3.3B	3.4B
Operating expenses	1.3B	1.4B	2.1B	4.2B	3.3B	3.1B	3B	3.3B	3.5B	3.6B
Operating income	2.3B	2.5B	2.2B	3.3B	3.9B	5.5B	6.7B	8.3B	8.6B	9.3B
Operating margin	22%	21.9%	15.1%	11.6%	14.3%	17.8%	20.1%	25.2%	26%	27.2%
Non-operating income, net	-82M	-44M	3B	-303M	-390M	-299M	-1.1B	-81M	230M	-102M
Pretax income	2B	2.3B	5B	2.9B	3.4B	5.1B	5.5B	8B	8.6B	8.9B
Income tax	551M	1B	817M	769M	847M	1.3B	1.4B	1.8B	2B	2B
Net income	1.5B	1.3B	4.4B	2.4B	2.6B	4B	4.3B	6.3B	6.7B	7.1B
Net margin	14.6%	11.5%	29.7%	8.43%	9.64%	12.9%	12.8%	19.3%	20.4%	20.8%
EBITDA	3.4B	3.7B	3.9B	7.7B	8.4B	10B	11B	12.3B	12.9B	13.6B
EPS	5.25	4.36	13.3	4.22	4.75	7.4	8.3	12.7	13.7	14.7
Diluted EPS	5.21	4.32	13.1	4.19	4.71	7.33	8.23	12.6	13.6	14.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	8.2B	8.3B	8.1B	8.3B	8.4B	8.3B	8.1B	8.5B	8.6B	8.8B	8.8B	9.3B
Cost of revenue	4.3B	4.4B	4.2B	4.3B	4.4B	4.3B	4.2B	4.3B	4.4B	4.5B	4.5B	4.9B
Gross profit	3.8B	3.9B	3.9B	4B	4B	4B	4B	4.2B	4.2B	4.2B	4.3B	4.4B
Gross margin	47.1%	46.6%	48%	48.6%	47.9%	47.8%	48.8%	49.3%	49.2%	48.1%	48.5%	47.7%
Research & development	36M	39M	38M	36M	37M	39M	38M	38M	36M	35M	38M	37M
Selling, general & administrative	808M	668M	810M	840M	823M	814M	786M	870M	897M	880M	893M	891M
Operating expenses	844M	707M	848M	876M	860M	853M	824M	908M	933M	915M	931M	928M
Operating income	2B	2.2B	2.1B	2.2B	2.2B	2.2B	2.2B	2.3B	2.3B	2.4B	2.4B	2.5B
Operating margin	25%	26.7%	25.8%	26.4%	26.1%	26.5%	27.4%	27.5%	27.2%	26.8%	27.1%	27.3%
Non-operating income, net	49M	-148M	58M	51M	-49M	120M	19M	74M	82M	-277M	117M	70M
Pretax income	2B	2B	2.1B	2.2B	2.1B	2.3B	2.2B	2.3B	2.4B	2B	2.4B	2.5B
Income tax	487M	459M	463M	508M	498M	533M	511M	573M	424M	481M	571M	610M
Net income	1.6B	1.6B	1.7B	1.7B	1.6B	1.8B	1.7B	1.8B	2B	1.6B	1.9B	2B
Net margin	19.6%	19%	20.6%	20.6%	19.2%	21.4%	21%	21.3%	22.9%	17.9%	21.6%	21.2%
EBITDA	3B	3.2B	3.1B	3.2B	3.1B	3.5B	3.1B	3.4B	3.4B	3.2B	3.4B	3.6B
EPS	3.21	3.19	3.38	3.46	3.24	—	3.53	3.75	4.11	3.28	4	4.17
Diluted EPS	3.19	3.16	3.35	3.44	3.22	—	3.51	3.73	4.09	3.26	3.98	4.15

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	33.5B	44.3B	—	—	138.8B	179.1B	163B	200.5B	200.4B	200.2B	217.6B
Enterprise value	42.5B	52.7B	—	—	152.3B	191.5B	176.4B	216.2B	218.2B	223.2B	241.3B
Shares outstanding	285.7M	286.3M	330.4M	541.1M	526.7M	516.9M	499.7M	488.2M	478.8M	469.5M	469.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	21.8	33.9	—	—	52.9	45.2	38.1	31.6	29.8	28.4	30.4
P/S	3.18	3.9	—	—	5.09	5.82	4.89	6.1	6.07	5.89	6.13
P/B	6.14	6.79	—	—	2.8	3.94	3.94	4.88	5.08	5.04	5.56
EV/EBITDA	12.4	14.3	—	—	18.2	19.2	16	17.6	16.9	16.5	17.5
EV/Sales	4.03	4.64	—	—	5.59	6.22	5.29	6.58	6.61	6.57	6.81
Earnings yield	4.59%	2.95%	—	—	1.89%	2.21%	2.63%	3.16%	3.36%	3.53%	3.29%
FCF yield	3.95%	3.91%	—	—	2.9%	3.71%	3.49%	2.75%	2.46%	2.54%	1.91%
PEG	—	—	—	—	—	—	—	—	—	—	2.71

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	44.4%	43.8%	39.2%	41%	43.5%	43%	41.7%	46.8%	48.1%	48.8%	47.7%
Operating margin	22%	21.9%	15.1%	11.6%	14.3%	17.8%	20.1%	25.2%	26%	27.2%	28.1%
Net margin	14.6%	11.5%	29.7%	8.43%	9.64%	12.9%	12.8%	19.3%	20.4%	20.8%	20.4%
ROE	28.2%	20.1%	7.72%	4.61%	5.3%	8.72%	10.3%	15.4%	17.1%	17.8%	18.4%
ROA	7.96%	6.4%	4.72%	2.75%	2.98%	4.85%	5.37%	7.85%	8.41%	8.13%	7.16%
ROIC	11.7%	9.22%	2.77%	3.77%	4.62%	7.12%	9.07%	11.3%	11.5%	11.4%	11.7%
Return on tangible assets	12.9%	10.5%	61.2%	793.7%	-485.4%	-5.3K%	134.5%	252.5%	120%	97.7%	79.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.16	0.99	1.33	0.85	0.8	0.74	0.79	0.8	0.89	0.88	0.88
Quick ratio	0.94	0.81	1.21	0.71	0.67	0.62	0.67	0.67	0.76	0.74	0.75
Debt / equity	1.75	1.38	0.27	0.29	0.35	0.33	0.45	0.49	0.57	0.71	0.69
Debt / assets	0.49	0.44	0.16	0.17	0.2	0.19	0.24	0.25	0.28	0.32	0.32
Net debt / EBITDA	2.62	2.28	2.79	1.59	1.61	1.24	1.21	1.27	1.38	1.7	1.7
Interest coverage	11.8	12.3	17.7	12.9	14.3	31	26.8	20.3	18.6	20.2	21.3
Effective tax rate	26.9%	44.9%	16.2%	26.3%	25%	24.7%	25.9%	22.7%	23.4%	22.4%	22.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	36.9	39.7	44.9	52.2	51.7	59.6	66.8	67.3	68.9	72.4	76.2
EPS (basic)	5.25	4.36	13.3	4.22	4.75	7.4	8.3	12.7	13.7	14.7	14.7
EPS (diluted)	5.21	4.32	13.1	4.19	4.71	7.33	8.23	12.6	13.6	14.6	15.5
Book value per share	19.1	22.8	172.8	95.4	94.1	87.9	82.8	84.2	82.5	84.6	84.8
FCF per share	4.63	6.04	5.51	4.63	7.65	12.8	11.4	11.3	10.3	10.8	10.7
Cash per share	1.83	2.16	13.5	4.99	7.13	5.46	10.9	9.55	10.1	10.8	10.6
Capex per share	—	—	—	—	—	—	—	—	—	11.2	11.9

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	15.5%	15.6%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	50.8%	52.6%
Payout ratio	55.7%	68.9%	26.5%	79.4%	77.2%	55.3%	54.8%	39.1%	39.4%	39.8%	40%
Dividend yield	2.56%	2.03%	—	—	1.46%	1.22%	1.44%	1.24%	1.32%	1.4%	1.36%

Yield

1.36%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.60

ex-dividend Sep 3, 2026

Payout ratio

40%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 3, 2026	$1.60
Jun 4, 2026	$1.60
Mar 11, 2026	$1.60
Dec 3, 2025	$1.50
Sep 4, 2025	$1.50
Jun 4, 2025	$1.50
Mar 13, 2025	$1.50
Dec 3, 2024	$1.39

Split history

Date	Ratio
Dec 16, 2003	2:1

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$4.12	$4.15	+0.7%	—	—	—
Q4 26	$4.27	$4.33	+1.4%	—	—	—
Q3 26	$4.18	$4.2	+0.5%	—	—	—
Q2 26	$4.18	$4.21	+0.7%	—	—	—
Q1 26	$4.04	$4.09	+1.2%	—	—	—
Q4 25	$3.92	$3.95	+0.8%	—	—	—
Q3 25	$3.92	$3.97	+1.3%	—	—	—
Q2 25	$3.91	$3.94	+0.8%	—	—	—
Q1 25	$3.79	$3.85	+1.6%	—	—	—
Q4 24	$3.67	$3.75	+2.2%	—	—	—
Q3 24	$3.5	$3.59	+2.6%	—	—	—
Q2 24	$3.57	$3.63	+1.7%	—	—	—
Q1 24	$3.49	$3.57	+2.3%	—	—	—
Q4 23	$3.14	$3.42	+8.9%	—	—	—
Q3 23	$2.89	$3.16	+9.3%	—	—	—
Q2 23	$2.93	$3.1	+5.8%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$14.7	—	—	$34B	—
FY24	—	$13.7	—	—	$33B	—
FY23	—	$12.7	—	—	$32.9B	—
FY22	—	$8.3	—	—	$33.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$10.5B	$11.4B	$14.8B	$28.2B	$27.2B	$30.8B	$33.4B	$32.9B	$33B	$34B
YoY change	-2.25%	+7.82%	+30.6%	+90.3%	-3.49%	+13%	+8.35%	-1.53%	+0.46%	+2.97%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	10.5B	11.4B	14.8B	28.2B	27.2B	30.8B	33.4B	32.9B	33B	34B
Cost of revenue	5.9B	6.4B	9B	16.6B	15.4B	17.5B	19.4B	17.5B	17.1B	17.4B
Gross profit	4.7B	5B	5.8B	11.6B	11.9B	13.3B	13.9B	15.4B	15.9B	16.6B
Gross margin	44.4%	43.8%	39.2%	41%	43.5%	43%	41.7%	46.8%	48.1%	48.8%
Research & development	92M	93M	113M	184M	152M	143M	143M	146M	150M	147M
Selling, general & administrative	1.1B	1.2B	1.6B	3.5B	3.2B	3B	2.9B	3.1B	3.3B	3.4B
Operating expenses	1.3B	1.4B	2.1B	4.2B	3.3B	3.1B	3B	3.3B	3.5B	3.6B
Operating income	2.3B	2.5B	2.2B	3.3B	3.9B	5.5B	6.7B	8.3B	8.6B	9.3B
Operating margin	22%	21.9%	15.1%	11.6%	14.3%	17.8%	20.1%	25.2%	26%	27.2%
Non-operating income, net	-82M	-44M	3B	-303M	-390M	-299M	-1.1B	-81M	230M	-102M
Pretax income	2B	2.3B	5B	2.9B	3.4B	5.1B	5.5B	8B	8.6B	8.9B
Income tax	551M	1B	817M	769M	847M	1.3B	1.4B	1.8B	2B	2B
Net income	1.5B	1.3B	4.4B	2.4B	2.6B	4B	4.3B	6.3B	6.7B	7.1B
Net margin	14.6%	11.5%	29.7%	8.43%	9.64%	12.9%	12.8%	19.3%	20.4%	20.8%
EBITDA	3.4B	3.7B	3.9B	7.7B	8.4B	10B	11B	12.3B	12.9B	13.6B
EPS	5.25	4.36	13.3	4.22	4.75	7.4	8.3	12.7	13.7	14.7
Diluted EPS	5.21	4.32	13.1	4.19	4.71	7.33	8.23	12.6	13.6	14.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	8.2B	8.3B	8.1B	8.3B	8.4B	8.3B	8.1B	8.5B	8.6B	8.8B	8.8B	9.3B
Cost of revenue	4.3B	4.4B	4.2B	4.3B	4.4B	4.3B	4.2B	4.3B	4.4B	4.5B	4.5B	4.9B
Gross profit	3.8B	3.9B	3.9B	4B	4B	4B	4B	4.2B	4.2B	4.2B	4.3B	4.4B
Gross margin	47.1%	46.6%	48%	48.6%	47.9%	47.8%	48.8%	49.3%	49.2%	48.1%	48.5%	47.7%
Research & development	36M	39M	38M	36M	37M	39M	38M	38M	36M	35M	38M	37M
Selling, general & administrative	808M	668M	810M	840M	823M	814M	786M	870M	897M	880M	893M	891M
Operating expenses	844M	707M	848M	876M	860M	853M	824M	908M	933M	915M	931M	928M
Operating income	2B	2.2B	2.1B	2.2B	2.2B	2.2B	2.2B	2.3B	2.3B	2.4B	2.4B	2.5B
Operating margin	25%	26.7%	25.8%	26.4%	26.1%	26.5%	27.4%	27.5%	27.2%	26.8%	27.1%	27.3%
Non-operating income, net	49M	-148M	58M	51M	-49M	120M	19M	74M	82M	-277M	117M	70M
Pretax income	2B	2B	2.1B	2.2B	2.1B	2.3B	2.2B	2.3B	2.4B	2B	2.4B	2.5B
Income tax	487M	459M	463M	508M	498M	533M	511M	573M	424M	481M	571M	610M
Net income	1.6B	1.6B	1.7B	1.7B	1.6B	1.8B	1.7B	1.8B	2B	1.6B	1.9B	2B
Net margin	19.6%	19%	20.6%	20.6%	19.2%	21.4%	21%	21.3%	22.9%	17.9%	21.6%	21.2%
EBITDA	3B	3.2B	3.1B	3.2B	3.1B	3.5B	3.1B	3.4B	3.4B	3.2B	3.4B	3.6B
EPS	3.21	3.19	3.38	3.46	3.24	—	3.53	3.75	4.11	3.28	4	4.17
Diluted EPS	3.19	3.16	3.35	3.44	3.22	—	3.51	3.73	4.09	3.26	3.98	4.15

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	33.5B	44.3B	—	—	138.8B	179.1B	163B	200.5B	200.4B	200.2B	217.6B
Enterprise value	42.5B	52.7B	—	—	152.3B	191.5B	176.4B	216.2B	218.2B	223.2B	241.3B
Shares outstanding	285.7M	286.3M	330.4M	541.1M	526.7M	516.9M	499.7M	488.2M	478.8M	469.5M	469.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	21.8	33.9	—	—	52.9	45.2	38.1	31.6	29.8	28.4	30.4
P/S	3.18	3.9	—	—	5.09	5.82	4.89	6.1	6.07	5.89	6.13
P/B	6.14	6.79	—	—	2.8	3.94	3.94	4.88	5.08	5.04	5.56
EV/EBITDA	12.4	14.3	—	—	18.2	19.2	16	17.6	16.9	16.5	17.5
EV/Sales	4.03	4.64	—	—	5.59	6.22	5.29	6.58	6.61	6.57	6.81
Earnings yield	4.59%	2.95%	—	—	1.89%	2.21%	2.63%	3.16%	3.36%	3.53%	3.29%
FCF yield	3.95%	3.91%	—	—	2.9%	3.71%	3.49%	2.75%	2.46%	2.54%	1.91%
PEG	—	—	—	—	—	—	—	—	—	—	2.71

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	44.4%	43.8%	39.2%	41%	43.5%	43%	41.7%	46.8%	48.1%	48.8%	47.7%
Operating margin	22%	21.9%	15.1%	11.6%	14.3%	17.8%	20.1%	25.2%	26%	27.2%	28.1%
Net margin	14.6%	11.5%	29.7%	8.43%	9.64%	12.9%	12.8%	19.3%	20.4%	20.8%	20.4%
ROE	28.2%	20.1%	7.72%	4.61%	5.3%	8.72%	10.3%	15.4%	17.1%	17.8%	18.4%
ROA	7.96%	6.4%	4.72%	2.75%	2.98%	4.85%	5.37%	7.85%	8.41%	8.13%	7.16%
ROIC	11.7%	9.22%	2.77%	3.77%	4.62%	7.12%	9.07%	11.3%	11.5%	11.4%	11.7%
Return on tangible assets	12.9%	10.5%	61.2%	793.7%	-485.4%	-5.3K%	134.5%	252.5%	120%	97.7%	79.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.16	0.99	1.33	0.85	0.8	0.74	0.79	0.8	0.89	0.88	0.88
Quick ratio	0.94	0.81	1.21	0.71	0.67	0.62	0.67	0.67	0.76	0.74	0.75
Debt / equity	1.75	1.38	0.27	0.29	0.35	0.33	0.45	0.49	0.57	0.71	0.69
Debt / assets	0.49	0.44	0.16	0.17	0.2	0.19	0.24	0.25	0.28	0.32	0.32
Net debt / EBITDA	2.62	2.28	2.79	1.59	1.61	1.24	1.21	1.27	1.38	1.7	1.7
Interest coverage	11.8	12.3	17.7	12.9	14.3	31	26.8	20.3	18.6	20.2	21.3
Effective tax rate	26.9%	44.9%	16.2%	26.3%	25%	24.7%	25.9%	22.7%	23.4%	22.4%	22.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	36.9	39.7	44.9	52.2	51.7	59.6	66.8	67.3	68.9	72.4	76.2
EPS (basic)	5.25	4.36	13.3	4.22	4.75	7.4	8.3	12.7	13.7	14.7	14.7
EPS (diluted)	5.21	4.32	13.1	4.19	4.71	7.33	8.23	12.6	13.6	14.6	15.5
Book value per share	19.1	22.8	172.8	95.4	94.1	87.9	82.8	84.2	82.5	84.6	84.8
FCF per share	4.63	6.04	5.51	4.63	7.65	12.8	11.4	11.3	10.3	10.8	10.7
Cash per share	1.83	2.16	13.5	4.99	7.13	5.46	10.9	9.55	10.1	10.8	10.6
Capex per share	—	—	—	—	—	—	—	—	—	11.2	11.9

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	15.5%	15.6%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	50.8%	52.6%
Payout ratio	55.7%	68.9%	26.5%	79.4%	77.2%	55.3%	54.8%	39.1%	39.4%	39.8%	40%
Dividend yield	2.56%	2.03%	—	—	1.46%	1.22%	1.44%	1.24%	1.32%	1.4%	1.36%

Yield

1.36%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.60

ex-dividend Sep 3, 2026

Payout ratio

40%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 3, 2026	$1.60
Jun 4, 2026	$1.60
Mar 11, 2026	$1.60
Dec 3, 2025	$1.50
Sep 4, 2025	$1.50
Jun 4, 2025	$1.50
Mar 13, 2025	$1.50
Dec 3, 2024	$1.39

Split history

Date	Ratio
Dec 16, 2003	2:1

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$8.2B	$8.3B	$8.1B	$8.3B	$8.4B	$8.3B	$8.1B	$8.5B	$8.6B	$8.8B	$8.8B	$9.3B
YoY change	-7.3%	+5.1%	-1.14%	+0.77%	+2.46%	-0.24%	+0.15%	+2.76%	+3.1%	+5.82%	+8.25%	+9.35%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	524M	617M	4.5B	2.7B	3.8B	2.8B	5.4B	4.7B	4.8B	5.1B
Receivables	1.6B	1.8B	4.4B	4.3B	4.2B	4.5B	4.6B	4.7B	4.6B	5B
Inventory	550M	614M	1.7B	1.7B	1.7B	1.7B	2B	2.1B	1.9B	2.1B
Total current assets	2.9B	3.3B	17.3B	10.4B	10.9B	10.2B	13B	12.6B	12.9B	13.3B
Property, plant & equipment	10.4B	10.6B	26.6B	26.9B	26.5B	23.8B	21.4B	22.2B	22.4B	25.5B
Goodwill & intangibles	7.4B	8B	86.2B	86.3B	88.8B	81.7B	76.5B	78.3B	74.5B	79.6B
Total assets	19.3B	20.4B	93.4B	86.6B	88.2B	81.6B	79.7B	80.8B	80.1B	86.8B
Accounts payable	906M	922M	3.2B	3.3B	3.1B	3.5B	3B	3B	2.5B	2.8B
Short-term debt	598M	1.2B	3B	3.5B	4.3B	3.1B	5.9B	6.2B	6.5B	6.6B
Total current liabilities	2.5B	3.3B	13B	12.2B	13.7B	13.6B	16.5B	15.7B	14.5B	15.2B
Long-term debt	8.9B	7.8B	12.3B	11.4B	12.9B	12.1B	12.9B	14.1B	16.1B	21.5B
Total liabilities	13.9B	13.9B	36.3B	35B	38.6B	36.2B	38.3B	39.7B	40.7B	47.1B
Shareholders' equity	5.5B	6.5B	57.1B	51.6B	49.6B	45.4B	41.4B	41.1B	39.5B	39.7B
Total debt	9.5B	9B	15.3B	14.9B	17.2B	15.2B	18.8B	20.3B	22.6B	28.1B
Net debt	9B	8.4B	10.8B	12.2B	13.5B	12.4B	13.4B	15.7B	17.8B	23B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	3.9B	4.7B	4.8B	4.6B	5.2B	4.8B	5.3B	4.8B	4.5B	5.1B	4B	4.9B
Receivables	4.7B	4.7B	5B	5B	4.9B	4.6B	5B	5.2B	5.3B	5B	5.3B	5.6B
Inventory	2.1B	2.1B	2.1B	2.1B	2.1B	1.9B	2B	2.1B	2.1B	2.1B	2.1B	2.1B
Total current assets	11.7B	12.6B	13.1B	12.8B	13.5B	12.9B	13.6B	13.6B	13.3B	13.3B	12.8B	14.2B
Property, plant & equipment	—	22.2B	—	—	—	22.4B	—	—	—	25.5B	—	—
Goodwill & intangibles	76.1B	78.3B	76.6B	76.4B	78.4B	74.5B	76.1B	79.8B	79.5B	79.6B	79.1B	79B
Total assets	77.8B	80.8B	80.3B	80.2B	82.5B	80.1B	82.7B	86.1B	86B	86.8B	86.3B	88.3B
Accounts payable	2.8B	3B	2.9B	2.9B	2.8B	2.5B	2.4B	2.6B	2.6B	2.8B	2.7B	2.8B
Short-term debt	4.8B	6.2B	5.1B	4.6B	4.8B	6.5B	6.3B	6.2B	7.3B	6.6B	6.5B	7.3B
Total current liabilities	14.2B	15.7B	14.4B	13.5B	14B	14.5B	14.5B	14.7B	16.2B	15.2B	15.4B	16.1B
Long-term debt	13.2B	14.1B	15.2B	16.9B	17.5B	16.1B	17.6B	19.7B	18.6B	21.5B	19.9B	20.7B
Total liabilities	37.6B	39.7B	40.1B	40.7B	41.9B	40.7B	43.2B	46.1B	45.9B	47.1B	46.2B	47.7B
Shareholders' equity	40.2B	41.1B	40.2B	39.6B	40.6B	39.5B	39.5B	40B	40.1B	39.7B	40.1B	40.6B
Total debt	18B	20.3B	20.3B	21.5B	22.3B	22.6B	23.9B	25.9B	25.9B	28.1B	26.3B	28B
Net debt	14.1B	15.7B	15.5B	16.9B	17.1B	17.8B	18.6B	21.1B	21.4B	23B	22.4B	23.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.5B	1.3B	4.4B	2.3B	2.5B	3.8B	4.1B	6.2B	6.7B	7.1B
Depreciation & amortization	1.1B	1.2B	1.8B	4.7B	4.6B	4.6B	4.2B	3.8B	3.8B	3.8B
Stock-based compensation	39M	59M	62M	95M	133M	128M	107M	141M	160M	164M
Change in working capital	-24M	-46M	-181M	86M	127M	625M	-460M	-381M	-513M	-147M
Operating cash flow	2.7B	3.2B	6.2B	6.5B	7.2B	9.2B	8.7B	9.4B	9.8B	10.3B
Capital expenditure	—	—	—	—	—	—	—	—	—	-5.3B
Investing cash flow	-305M	-3M	7.2B	4.9B	414M	79M	85M	-883M	-147M	-5.7B
Dividends paid	-856M	-901M	-1.2B	-1.9B	-2B	-2.2B	-2.3B	-2.5B	-2.7B	-2.8B
Share repurchases	-228M	-12M	-599M	-2.7B	-2.5B	-4.6B	-5.2B	-4B	-4.5B	-4.6B
Financing cash flow	-659M	-1.7B	-5B	-9B	-3.3B	-7.6B	-3.1B	-5.4B	-4.4B	-4.6B
Net change in cash	1.7B	1.5B	8.4B	2.3B	4.3B	1.7B	5.7B	3.1B	5.2B	75M
Free cash flow	1.3B	1.7B	1.8B	2.5B	4B	6.6B	5.7B	5.5B	4.9B	5.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.6B	1.5B	1.7B	1.6B	1.6B	1.9B	1.7B	1.7B	1.9B	1.7B	1.9B	1.9B
Depreciation & amortization	959M	949M	949M	958M	960M	913M	910M	942M	961M	950M	951M	963M
Stock-based compensation	36M	39M	38M	40M	42M	40M	42M	46M	45M	31M	41M	19M
Change in working capital	-155M	-83M	-482M	-152M	158M	-37M	-337M	-30M	-25M	245M	-592M	-436M
Operating cash flow	2.3B	2.6B	2.1B	2.3B	2.7B	2.7B	2.3B	2.2B	2.9B	3B	2.2B	2.3B
Capital expenditure	—	—	—	—	—	—	—	-1.3B	-1.3B	-1.5B	-1.3B	-1.4B
Investing cash flow	2M	-75M	7M	-137M	109M	-126M	-99M	-1.4B	-1.4B	-1.5B	-1.4B	-1.7B
Dividends paid	-620M	-616M	-669M	-665M	-662M	-659M	-708M	-704M	-701M	-698M	-741M	-738M
Share repurchases	-1.2B	-1B	-1B	-1.4B	-667M	-1.3B	-1.1B	-1.1B	-989M	-1.4B	-807M	-871M
Financing cash flow	-964M	-780M	-668M	-808M	-1.3B	-1.6B	-388M	-1.4B	-1.8B	-1B	-2B	321M
Net change in cash	1.3B	1.7B	1.4B	1.3B	1.6B	965M	1.9B	-559M	-268M	551M	-1.1B	933M
Free cash flow	1.6B	1.6B	906M	796M	1.7B	1.6B	891M	954M	1.7B	1.6B	898M	833M

Linde plc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Linde plc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement