Linde PLC (LIN)
Materials · Industrial Gases · US stock · S&P 500 component
$498.43
▲ +5.21 (1.06%)
Fair valueOvervalued
$334 −33.1% to fair value
$167fair band $234–$434$500
Day's range
$492.74 – $502.14
52-week range
$384.00 – $546.40
About Linde PLC
Linde supplies industrial gases such as oxygen, nitrogen, argon, hydrogen and helium, together with related equipment and engineering services. Its customers work in chemicals, energy, healthcare, metals, food and beverage, electronics and manufacturing, and many are supplied under long-term contracts through pipelines, on-site plants or bulk and packaged deliveries. Linde also designs and builds gas processing and separation plants through its engineering unit.
Linde earns revenue from the gases it supplies, often under long-term contracts, and from equipment and plant projects. Revenue for the last twelve months was $35.4 billion, growing at 0.6% a year across the last three years. The operating margin is 26.5%, and the business earns a profit of 11% on the capital invested in it. It has net debt of 2.1 times EBITDA. A dividend is paid, with a yield of 1.3%. On the site's X-Ray Score it receives 44 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $384.00 – $546.40Volume 2,036,700Daily, split-adjusted
Vitals
Market cap$231.5B
52-week range$384.00 – $546.40
Volume (last day)2,036,700
P/E (TTM)32.2
EBIT / EV yield3.6%
Free-cash-flow yield2.1%
Dividend yield1.3%
Revenue (TTM)$35.4B
Net income (TTM)$7.2B
Operating margin26.5%
Return on capital10.9%
Debt incl. leases$32.5B
Cash & securities$4.9B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$334model spread $312 – $358
Overvalued
−33.1% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $498
Undervalued < $234Fair $234 – $434Overvalued > $434
10-year DCF (market-scaled)
$323
Peer multiples
$312
Earnings power floor (not blended)
$107
Fundamentals-adjusted multiple
$366
Growth the price implies
18.0%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Materials peers. Open a lens to see the numbers behind it.
Valuation
Weak
20/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.6%
Free-cash-flow yield2.1%
Fair value vs price0.7×
Growth
Fair
55/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)0.6%
EPS growth (3y)21.1%
Growth consistency80%
Profitability
Fair
59/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital10.9%
Operating margin26.5%
Financial health
Weak
40/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA2.1×
Interest cover37.4×
Dividends
Weak
49/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield1.3%
Dividends vs free cash flow59%
Dividend growth6.2%
Quarterly results: last 6 quarters
+0.1%
Mar '25
+2.8%
Jun '25
+3.1%
Sep '25
+5.8%
Dec '25
+8.2%
Mar '26
+9.3%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $9.3B, diluted EPS $4.15.
Fundamentals checklist
● 4 Good · ● 4 Average · ● 7 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalAverage
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 47/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $30.8B | $33.4B | $32.9B | $33.0B | $34.0B |
| Operating income | $5.0B | $5.4B | $8.0B | $8.6B | $8.9B |
| Net income | $3.8B | $4.1B | $6.2B | $6.6B | $6.9B |
| Operating cash flow | $9.7B | $8.9B | $9.3B | $9.4B | $10.4B |
| Operating margin | 16.2% | 16.1% | 24.4% | 26.2% | 26.3% |
| Free cash flow | $6.6B | $5.7B | $5.5B | $4.9B | $5.1B |
| Diluted EPS | $7.33 | $8.23 | $12.59 | $13.62 | $14.61 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
9 bullish · 1 neutral · 2 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 488.6 | Bullish |
| EMA 10 | 488.5 | Bullish |
| SMA 20 | 479.2 | Bullish |
| EMA 20 | 483.1 | Bullish |
| SMA 50 | 478.2 | Bullish |
| EMA 50 | 482.8 | Bullish |
| SMA 100 | 494.3 | Bullish |
| EMA 100 | 486.2 | Bullish |
| SMA 200 | 486.9 | Bullish |
| EMA 200 | 482.1 | Bullish |
Oscillators (daily)
| RSI (14) | 68.06 | Neutral |
| MACD (12, 26) | 5.15 | Bullish |
| Momentum (12) | 5.01 | Bullish |
| Stochastic %K (14) | 90.67 | Bearish |
| Williams %R (14) | -9.33 | Bearish |
| CCI (20) | 130.8 | Bearish |
Pivot points (classic, last session)
S3 484.0 | S2 488.4 | S1 493.4 | Pivot 497.8 | R1 502.8 | R2 507.2 | R3 512.2 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
6.30 USD
Yield on today's price
1.26%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 3 Sep 2026 | 1.6000 |
| 4 Jun 2026 | 1.6000 |
| 11 Mar 2026 | 1.6000 |
| 3 Dec 2025 | 1.5000 |
| 4 Sep 2025 | 1.5000 |
| 4 Jun 2025 | 1.5000 |
| 13 Mar 2025 | 1.5000 |
| 3 Dec 2024 | 1.3900 |
| 4 Sep 2024 | 1.3900 |
| 4 Jun 2024 | 1.3900 |
| 13 Mar 2024 | 1.3900 |
| 1 Dec 2023 | 1.2750 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
LIN SEC filings
31 Jul 2026
8-KSEC EDGAR
Results of operations
31 Jul 2026
10-QSEC EDGAR
Quarterly report
30 Jul 2026
8-KSEC EDGAR
Shareholder vote results
13 May 2026
8-KSEC EDGAR
Other events
1 May 2026
8-KSEC EDGAR
Results of operations
1 May 2026
10-QSEC EDGAR
Quarterly report
29 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
25 Feb 2026
10-KSEC EDGAR
Annual report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.