Linde plc (LIN) Stock Analysis
Basic Materials · Specialty Chemicals · NasdaqGS
Linde plc (LIN) posted $33.99B in revenue for fiscal 2025 (up 3.0% year over year), at a 20.3% net margin, and has compounded revenue about 4.5%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Linde plc
Linde plc has grown revenue from $10.53B to $33.99B over the last 10 fiscal years, compounding about 4.5% a year. The most recent year was up 3%, so growth has cooled from its longer-run pace.
Net margin sits at 20.3%, up 0.4 points year over year. It carries about $26.99B of total debt.
At today's valuation the market is pricing in roughly 18.3% annual free-cash-flow growth — versus the 4.8% it actually delivered over the last five years, so the price already assumes a step-up from the recent record.
Synthesised from Linde plc's SEC filings — descriptive, not advice. Ask the analyst your own question →
Linde plc revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.53B | $11.36B | $14.84B | $28.23B | $27.24B | $30.79B | $33.36B | $32.85B | $33.01B | $33.99B |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $1.50B | $1.25B | $4.38B | $2.29B | $2.50B | $3.83B | $4.15B | $6.20B | $6.57B | $6.90B |
| Net margin | 14.2% | 11.0% | 29.5% | 8.1% | 9.2% | 12.4% | 12.4% | 18.9% | 19.9% | 20.3% |
Source: Linde plc SEC filings (10-K).
Linde plc: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into LIN stock?
At today's market cap of $221.18B, Linde plc is priced for free-cash-flow growth of about 18.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $5.09B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 4.8%/yr over the last five fiscal years and revenue 4.5%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 10 years of Linde plc financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Linde plc financial history by metric
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About Linde plc
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.
Linde plc — frequently asked questions
What is Linde plc's revenue?
Linde plc (LIN) reported revenue of $33.99B for fiscal year 2025, up 3.0% from the prior year, according to its SEC filings.
Is Linde plc profitable?
Yes. LIN earned net income of $6.90B in fiscal 2025, a net margin of 20.3%.
What is LIN's P/E ratio?
Linde plc trades at a price-to-earnings ratio of about 30.9 based on the latest data in our nightly-refreshed cache.
How fast is Linde plc growing?
LIN's revenue grew at roughly 4.5% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Linde plc have?
As of fiscal year 2025, LIN carried roughly $26.99B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Linde plc's market cap?
Linde plc (LIN) has a market capitalization of about $221.18B, based on the latest data in our nightly-refreshed cache.
When does Linde plc's fiscal year end?
LIN's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into LIN stock?
At today's market cap of $221.18B, Linde plc is priced for free-cash-flow growth of about 18.3% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $5.09B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 4.8%/yr over the last five fiscal years and revenue 4.5%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Linde plc's official SEC filings (10-K and 10-Q), covering 10 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.