Linde Plc Financials
This page shows Linde Plc (LIN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Linde Plc has an operating margin of 26.3%, meaning the company retains $26 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 26.2% the prior year.
Linde Plc's revenue grew a modest 3.0% year-over-year to $34.0B. This slow but positive growth earns a score of 37/100.
Linde Plc carries a low D/E ratio of 0.54, meaning only $0.54 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
Linde Plc's current ratio of 0.88 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 15/100, which could limit financial flexibility.
Linde Plc converts 15.0% of revenue into free cash flow ($5.1B). This strong cash generation earns a score of 75/100.
Linde Plc earns a strong 18.0% return on equity (ROE), meaning it generates $18 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 72/100. This is up from 17.2% the prior year.
Linde Plc scores 3.87, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($227.0B) relative to total liabilities ($47.1B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Linde Plc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Linde Plc generates $1.50 in operating cash flow ($10.3B OCF vs $6.9B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Linde Plc earns $15.5 in operating income for every $1 of interest expense ($8.9B vs $575.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Linde Plc generated $34.0B in revenue in fiscal year 2025. This represents an increase of 3.0% from the prior year.
Linde Plc's EBITDA was $12.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2.2% from the prior year.
Linde Plc generated $5.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 3.3% from the prior year.
Linde Plc reported $6.9B in net income in fiscal year 2025. This represents an increase of 5.1% from the prior year.
Linde Plc earned $14.61 per diluted share (EPS) in fiscal year 2025. This represents an increase of 7.3% from the prior year.
Linde Plc held $5.1B in cash against $20.7B in long-term debt as of fiscal year 2025.
Linde Plc paid $6.00 per share in dividends in fiscal year 2025. This represents an increase of 7.9% from the prior year.
Linde Plc had 463M shares outstanding in fiscal year 2025. This represents a decrease of 2.0% from the prior year.
Linde Plc's gross margin was 48.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the prior year.
Linde Plc's operating margin was 26.3% in fiscal year 2025, reflecting core business profitability. This is up 0.1 percentage points from the prior year.
Linde Plc's net profit margin was 20.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.4 percentage points from the prior year.
Linde Plc's ROE was 18.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.8 percentage points from the prior year.
Linde Plc invested $147.0M in research and development in fiscal year 2025. This represents a decrease of 2.0% from the prior year.
Linde Plc spent $4.6B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 2.7% from the prior year.
Linde Plc invested $5.3B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 17.0% from the prior year.
LIN Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.8B+1.7% | $8.6B+1.4% | $8.5B+4.7% | $8.1B-2.1% | $8.3B-0.9% | $8.4B+1.1% | $8.3B+2.1% | $8.1B |
| Cost of Revenue | $4.5B+3.8% | $4.4B+1.7% | $4.3B+3.6% | $4.2B-3.8% | $4.3B-0.8% | $4.4B+2.5% | $4.3B+0.8% | $4.2B |
| Gross Profit | $4.2B-0.4% | $4.2B+1.1% | $4.2B+5.9% | $4.0B-0.2% | $4.0B-0.9% | $4.0B-0.4% | $4.0B+3.4% | $3.9B |
| R&D Expenses | $35.0M-2.8% | $36.0M-5.3% | $38.0M0.0% | $38.0M-2.6% | $39.0M+5.4% | $37.0M+2.8% | $36.0M-5.3% | $38.0M |
| SG&A Expenses | $880.0M-1.9% | $897.0M+3.1% | $870.0M+10.7% | $786.0M-3.4% | $814.0M-1.1% | $823.0M-2.0% | $840.0M-2.3% | $860.0M |
| Operating Income | $2.0B-14.7% | $2.4B+0.6% | $2.4B+7.8% | $2.2B-3.8% | $2.3B+8.8% | $2.1B-4.5% | $2.2B+4.2% | $2.1B |
| Interest Expense | $384.0M+500.0% | $64.0M-4.5% | $67.0M+11.7% | $60.0M-83.0% | $352.0M+417.6% | $68.0M-2.9% | $70.0M+7.7% | $65.0M |
| Income Tax | $481.0M+13.4% | $424.0M-26.0% | $573.0M+12.1% | $511.0M-4.1% | $533.0M+7.0% | $498.0M-2.0% | $508.0M+9.7% | $463.0M |
| Net Income | $1.5B-20.7% | $1.9B+9.2% | $1.8B+5.6% | $1.7B-3.0% | $1.7B+11.3% | $1.6B-6.8% | $1.7B+2.2% | $1.6B |
| EPS (Diluted) | N/A | $4.09+9.7% | $3.73+6.3% | $3.51 | N/A | $3.22-6.4% | $3.44+2.7% | $3.35 |
LIN Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $86.8B+1.0% | $86.0B-0.1% | $86.1B+4.1% | $82.7B+3.2% | $80.1B-2.9% | $82.5B+2.9% | $80.2B-0.2% | $80.3B |
| Current Assets | $13.3B0.0% | $13.3B-2.2% | $13.6B+0.2% | $13.6B+5.0% | $12.9B-3.8% | $13.5B+4.8% | $12.8B-2.0% | $13.1B |
| Cash & Equivalents | $5.1B+12.1% | $4.5B-5.8% | $4.8B-9.6% | $5.3B+9.2% | $4.8B-6.5% | $5.2B+12.1% | $4.6B-4.6% | $4.8B |
| Inventory | $2.1B-3.4% | $2.1B+0.3% | $2.1B+7.0% | $2.0B+2.0% | $1.9B-6.8% | $2.1B-0.3% | $2.1B-0.3% | $2.1B |
| Accounts Receivable | $5.0B-6.8% | $5.3B+1.9% | $5.2B+5.7% | $5.0B+7.1% | $4.6B-5.1% | $4.9B-2.6% | $5.0B-0.2% | $5.0B |
| Goodwill | $27.9B+0.4% | $27.8B+0.1% | $27.8B+4.9% | $26.5B+2.2% | $25.9B-4.3% | $27.1B+2.8% | $26.4B+0.3% | $26.3B |
| Total Liabilities | $47.1B+2.5% | $45.9B-0.4% | $46.1B+6.6% | $43.2B+6.4% | $40.7B-3.1% | $41.9B+3.1% | $40.7B+1.4% | $40.1B |
| Current Liabilities | $15.2B-6.1% | $16.2B+10.0% | $14.7B+1.6% | $14.5B-0.4% | $14.5B+3.5% | $14.0B+4.0% | $13.5B-6.2% | $14.4B |
| Long-Term Debt | $20.7B+11.2% | $18.6B-5.6% | $19.7B+11.9% | $17.6B+14.8% | $15.3B-12.2% | $17.5B+3.2% | $16.9B+11.2% | $15.2B |
| Total Equity | $38.2B-1.0% | $38.6B+0.3% | $38.5B+1.3% | $38.0B-0.2% | $38.1B-2.8% | $39.2B+2.6% | $38.2B-1.7% | $38.8B |
| Retained Earnings | $16.6B+5.1% | $15.8B+8.2% | $14.6B+7.8% | $13.5B+7.2% | $12.6B+9.1% | $11.6B+8.1% | $10.7B+10.4% | $9.7B |
LIN Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.0B+2.8% | $2.9B+33.3% | $2.2B+2.3% | $2.2B-23.1% | $2.8B+2.9% | $2.7B+41.6% | $1.9B-1.3% | $2.0B |
| Capital Expenditures | $1.5B+14.3% | $1.3B+1.5% | $1.3B-1.0% | $1.3B+1.6% | $1.3B+17.3% | $1.1B-5.9% | $1.1B+8.1% | $1.0B |
| Free Cash Flow | $1.6B-6.0% | $1.7B+75.3% | $954.0M+7.1% | $891.0M-42.8% | $1.6B-6.4% | $1.7B+109.2% | $796.0M-12.1% | $906.0M |
| Investing Cash Flow | -$1.5B-1.9% | -$1.4B+1.6% | -$1.5B-6.4% | -$1.4B+0.5% | -$1.4B-43.8% | -$957.0M+24.6% | -$1.3B-22.0% | -$1.0B |
| Financing Cash Flow | -$1.0B+42.9% | -$1.8B-30.5% | -$1.4B-252.1% | -$388.0M+75.9% | -$1.6B-26.5% | -$1.3B-57.5% | -$808.0M-21.0% | -$668.0M |
| Dividends Paid | $698.0M-0.4% | $701.0M-0.4% | $704.0M-0.6% | $708.0M+7.4% | $659.0M-0.5% | $662.0M-0.5% | $665.0M-0.6% | $669.0M |
| Share Buybacks | $1.4B+40.5% | $989.0M-11.0% | $1.1B0.0% | $1.1B-16.7% | $1.3B+100.0% | $667.0M-53.7% | $1.4B+38.3% | $1.0B |
LIN Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.1%-1.1pp | 49.2%-0.1pp | 49.3%+0.6pp | 48.8%+0.9pp | 47.8%-0.0pp | 47.9%-0.7pp | 48.6%+0.6pp | 47.9% |
| Operating Margin | 23.0%-4.4pp | 27.5%-0.2pp | 27.7%+0.8pp | 26.9%-0.5pp | 27.4%+2.5pp | 25.0%-1.5pp | 26.4%+0.6pp | 25.9% |
| Net Margin | 17.5%-4.9pp | 22.4%+1.6pp | 20.8%+0.2pp | 20.6%-0.2pp | 20.8%+2.3pp | 18.6%-1.6pp | 20.1%+0.0pp | 20.1% |
| Return on Equity | 4.0%-1.0pp | 5.0%+0.4pp | 4.6%+0.2pp | 4.4%-0.1pp | 4.5%+0.6pp | 4.0%-0.4pp | 4.4%+0.2pp | 4.2% |
| Return on Assets | 1.8%-0.5pp | 2.2%+0.2pp | 2.1%+0.0pp | 2.0%-0.1pp | 2.1%+0.3pp | 1.9%-0.2pp | 2.1%+0.1pp | 2.0% |
| Current Ratio | 0.88+0.1 | 0.82-0.1 | 0.93-0.0 | 0.94+0.0 | 0.89-0.1 | 0.960.0 | 0.95+0.0 | 0.91 |
| Debt-to-Equity | 0.54+0.1 | 0.48-0.0 | 0.51+0.0 | 0.46+0.1 | 0.40-0.0 | 0.450.0 | 0.44+0.1 | 0.39 |
| FCF Margin | 17.9%-1.5pp | 19.4%+8.2pp | 11.2%+0.3pp | 11.0%-7.8pp | 18.8%-1.1pp | 19.9%+10.3pp | 9.6%-1.6pp | 11.2% |
Note: The current ratio is below 1.0 (0.88), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
What is Linde Plc's annual revenue?
Linde Plc (LIN) reported $34.0B in total revenue for fiscal year 2025. This represents a 3.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Linde Plc's revenue growing?
Linde Plc (LIN) revenue grew by 3% year-over-year, from $33.0B to $34.0B in fiscal year 2025.
Is Linde Plc profitable?
Yes, Linde Plc (LIN) reported a net income of $6.9B in fiscal year 2025, with a net profit margin of 20.3%.
What is Linde Plc's earnings per share (EPS)?
Linde Plc (LIN) reported diluted earnings per share of $14.61 for fiscal year 2025. This represents a 7.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Linde Plc's EBITDA?
Linde Plc (LIN) had EBITDA of $12.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Linde Plc have?
As of fiscal year 2025, Linde Plc (LIN) had $5.1B in cash and equivalents against $20.7B in long-term debt.
What is Linde Plc's gross margin?
Linde Plc (LIN) had a gross margin of 48.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Linde Plc's operating margin?
Linde Plc (LIN) had an operating margin of 26.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Linde Plc's net profit margin?
Linde Plc (LIN) had a net profit margin of 20.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Linde Plc pay dividends?
Yes, Linde Plc (LIN) paid $6.00 per share in dividends during fiscal year 2025.
What is Linde Plc's return on equity (ROE)?
Linde Plc (LIN) has a return on equity of 18.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Linde Plc's free cash flow?
Linde Plc (LIN) generated $5.1B in free cash flow during fiscal year 2025. This represents a 3.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Linde Plc's operating cash flow?
Linde Plc (LIN) generated $10.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Linde Plc's total assets?
Linde Plc (LIN) had $86.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Linde Plc's capital expenditures?
Linde Plc (LIN) invested $5.3B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Linde Plc spend on research and development?
Linde Plc (LIN) invested $147.0M in research and development during fiscal year 2025.
Does Linde Plc buy back shares?
Yes, Linde Plc (LIN) spent $4.6B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Linde Plc have outstanding?
Linde Plc (LIN) had 463M shares outstanding as of fiscal year 2025.
What is Linde Plc's current ratio?
Linde Plc (LIN) had a current ratio of 0.88 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Linde Plc's debt-to-equity ratio?
Linde Plc (LIN) had a debt-to-equity ratio of 0.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Linde Plc's return on assets (ROA)?
Linde Plc (LIN) had a return on assets of 8.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Linde Plc's Altman Z-Score?
Linde Plc (LIN) has an Altman Z-Score of 3.87, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Linde Plc's Piotroski F-Score?
Linde Plc (LIN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Linde Plc's earnings high quality?
Linde Plc (LIN) has an earnings quality ratio of 1.50x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Linde Plc cover its interest payments?
Linde Plc (LIN) has an interest coverage ratio of 15.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Linde Plc?
Linde Plc (LIN) scores 65 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.