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Profile & Fundamentals

Linde Profile & Fundamentals

Name: Linde financial chart data preview
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Company and Market Context

Company Profile & Ownership

Linde plc operates as an industrial gas company worldwide. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases, and acetylene. It also engages in the design and construction of turnkey process plants for third-party customers, as well as for its gas businesses, including air separation, hydrogen, synthesis, olefin, and natural gas plants. The company serves the healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics industries. It operates in the United States, Brazil, Mexico, Canada, Germany, the United Kingdom, Eastern Europe, China, Australia, South Korea, and India. Linde plc was founded in 1879 and is based in Woking, the United Kingdom.

Company profile record

Linde plc Ordinary Shares

Common Stock · Materials · Industrial Gases

Official website

Company

Company / asset: Linde plc Ordinary Shares
Security type: Common Stock
Sector: Materials
Industry: Industrial Gases
HQ: 🇬🇧 United Kingdom
Head office: Forge, 43 Church Street West, Woking, United Kingdom, GU21 6HT

Leadership & scale

Chief executive: Mr. Sanjiv Lamba
CEO year born: 1964
Full-time employees: 64.6K
Fiscal year end: December
IPO date: 2002-01-11

Fundamentals snapshot

Updated 2026-09-13

Market Cap: USD 213.9B
P/E: 29.3x
Revenue (Q2 26): USD 9.3B
Profit (Q2 26): USD 1.9B
Dividend Yield: 1.0%
Revenue (FY 25): USD 34.0B
Shares in public float: 459.4M
Insider ownership: 0.25%

Reporting & identifiers

Symbol: LIN.NYSE
Listing: 🇺🇸 United States | Dividend Tax: 30%
Ticker Currency: USD
Income Statement Currency: USD
Balance Sheet Currency: USD
Cash Flow Currency: USD
EPS Currency: USD
Contract Type: SPOT
ISIN: IE000S9YS762
Asset ID: equity_0e372eea-b090-547a-88a2-4a7f958db812

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Top holders

BlackRock Inc36,872,272 shares · 8.00% · Reported 2026-03-31
Vanguard Capital Management, LLC30,233,070 shares · 6.56% · Reported 2026-03-31
State Street Corp19,625,129 shares · 4.26% · Reported 2026-03-31
Capital Research Global Investors17,430,716 shares · 3.78% · Reported 2026-06-30
Amvescap Plc.14,999,320 shares · 3.25% · Reported 2026-03-31
Vanguard MStar Total Stk Mkt Idx Invest14,728,980 shares · 3.20% · Reported 2026-07-31
Vanguard Portfolio Management, LLC12,289,282 shares · 2.67% · Reported 2026-03-31

View more holders (8)

Vanguard 500 Index Investor12,134,942 shares · 2.63% · Reported 2026-07-31
Geode Capital Management, LLC11,832,240 shares · 2.57% · Reported 2026-03-31
Invesco QQQ Trust9,946,324 shares · 2.16% · Reported 2026-08-31
T. Rowe Price Associates, Inc.9,846,511 shares · 2.14% · Reported 2026-03-31
FMR Inc8,997,328 shares · 1.95% · Reported 2026-03-31
Morgan Stanley - Brokerage Accounts7,358,093 shares · 1.60% · Reported 2026-03-31
NORGES BANK6,640,227 shares · 1.44% · Reported 2026-06-30
JPMorgan Chase & Co6,255,468 shares · 1.36% · Reported 2026-03-31

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

The financial reports show a company with incredibly strong, high-quality earnings, though its overall sales growth has slowed down. While total revenue has barely grown, the company's net income and profits have continued to climb steadily. This is because the company has incredible pricing power, allowing it to raise prices even when the physical volume of gases sold is flat or slightly declining. Most reports agree that the company's earnings are highly secure because of its long-term customer contracts, which act like inflation-protected bonds. However, there is some disagreement about whether this earnings growth can continue at its current pace without a recovery in the broader manufacturing sector. While some believe that massive share buybacks will keep pushing earnings per share higher, others warn that the stock's high price leaves very little room for any future earnings disappointments.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

The company's profit margins are exceptionally high and have expanded significantly over the past several years, reaching near-record levels for an industrial business. This impressive profitability is driven by the company's localized monopolies and its ability to pass rising energy and raw material costs directly to its customers. The reports agree that these margins are highly stable and well-protected by long-term contracts. However, there is a clear clash of opinions regarding the future path of these margins. Some analysts believe that the shift toward high-margin specialty gases for the artificial intelligence and semiconductor industries will continue to push even higher. On the other hand, more cautious observers argue that the company is nearing a physical and mathematical ceiling for margin expansion, and that further price hikes could eventually hurt customer relationships or trigger regulatory pushback.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	10,534,000,000	1,308,000,000	1,500,000,000	33.72	21.98	14.24	12.42
2017-12-31	11,437,000,000	1,730,000,000	1,247,000,000	33.16	21.79	10.9	15.13
2018-12-31	14,836,000,000	1,819,000,000	4,381,000,000	26.87	15.13	29.53	12.26
2019-12-31	28,228,000,000	2,506,000,000	2,285,000,000	24.48	11.58	8.09	8.88
2020-12-31	27,243,000,000	4,029,000,000	2,501,000,000	26.55	14.28	9.18	14.79
2021-12-31	30,793,000,000	6,639,000,000	3,826,000,000	27.98	17.16	12.42	21.56
2022-12-31	33,364,000,000	5,691,000,000	4,147,000,000	29.1	19.36	12.43	17.06
2023-12-31	32,854,000,000	5,518,000,000	6,199,000,000	35.14	24.67	18.87	16.8
2024-12-31	33,005,000,000	4,926,000,000	6,565,000,000	36.61	26.04	19.89	14.93
2025-12-31	33,986,000,000	5,089,000,000	6,898,000,000	43.33	26.29	20.3	14.97

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-12-31	28.79	Trailing four quarters
2024-12-31	30.54	Trailing four quarters
2023-12-31	32.35	Trailing four quarters
2022-12-31	39.16	Annual net income
2021-12-31	46.75	Annual net income

Shares outstanding — chart values
Reporting date	Shares outstanding
2017-01-01	290,456,000
2018-01-01	462,683,000
2019-01-01	540,919,000
2020-01-01	529,038,000
2021-01-01	516,276,000
2022-01-01	497,922,000
2023-01-01	488,249,000
2024-01-01	478,877,000
2025-01-01	468,702,000
2026-01-01	464,523,000

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Earnings, Profitability & Valuation
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Capital Expenditure & R&D
- Capital allocation AI review
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Balance Sheet
- Balance sheet AI review
- Assets, debt and equity
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- Liquidity and leverage
- Retained earnings
Dividends & Actions
- Cash dividends paid
- Dividend indicators
- Buybacks and issuance
- Combined shareholder returns
- Available corporate actions
Company Events
- Dated insider transactions
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