LIN

MKT CAP:$236B

Linde plc

Market Cap

$236B

Basic Materials·Chemicals - Specialty·🇬🇧 United Kingdom·NASDAQ

Materials·Chemicals·🇬🇧·NASDAQ

Stock Price

$510.29+$81.18 (+18.92%)

Apr 24, 2026

Company Details

Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process g...

CEO

Sanjiv Lamba

IPO Date

Jun 17, 1992

Website

www.linde.com

Key Metrics TTM

Revenue

$34.0B

— YoY

Net Income

$6.7B

EPS (Diluted)

$14.01

Free Cash Flow

$5.7B

Revenue / Share

$72.55

Gross Margin

40.0%

Operating Margin

25.7%

Net Margin

19.7%

FCF Margin

16.8%

P/S

7.0x

P/E

35.2x

Earnings Reports

Q1 2026

May 1, 2026

PENDING

Q4 2025

Feb 25, 2026

$8.8BEPS $3.26

Q3 2025

Oct 31, 2025

$8.6B+3.1%EPS $4.09

FY 2024

Feb 26, 2025

$33.0B+0.5%EPS $13.62

Q3 2024

Oct 31, 2024

$8.4BEPS $3.22

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$8.5B	$2.8B	$2.0B
Q3 22	$8.8B	$2.8B	$2.0B
Q4 23	$8.3B	$2.9B	$2.1B
Q2 24	$8.3B	$3.1B	$2.2B
Q3 24	$8.4B	$3.0B	$2.2B
Q3 25	$8.6B	$3.3B	$2.3B
Q4 25	$8.8B	$4.2B	$2.0B

Valuation

Quarter	P/S	P/E
Q2 22	—	—
Q3 22	—	—
Q4 23	—	—
Q2 24	6.1x	42.2x
Q3 24	6.7x	37.6x
Q3 25	6.7x	33.4x
Q4 25	5.9x	29.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$2.1B	$1.3B
Q3 22	$2.6B	$1.9B
Q4 23	$2.7B	$1.6B
Q2 24	$1.9B	$796M
Q3 24	$2.7B	$1.7B
Q3 25	$2.9B	$1.7B
Q4 25	$3.0B	$1.6B

Capital Expenditures

Quarter	CapEx
Q2 22	$826M
Q3 22	$762M
Q4 23	$1.2B
Q2 24	$1.1B
Q3 24	$1.1B
Q3 25	$1.3B
Q4 25	$1.5B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 24	-1.2%	-4.5%
Q3 25	-2.1%	-7.6%
Q4 25	+5.6%	+7.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$17M	0.2%
Q3 22	$27M	0.3%
Q4 23	$39M	0.5%
Q2 24	$0	0.0%
Q3 24	$42M	0.5%
Q3 25	$45M	0.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q2 22	$37M	$771M
Q3 22	$35M	$770M
Q4 23	$39M	$832M
Q2 24	$36M	$840M
Q3 24	$37M	$823M
Q3 25	$36M	$897M
Q4 25	$35M	$880M

Revenue Segments

Quarter	APAC Segment	Americas Segment	EMEA Segment	Engineering Segment
Q2 24	$1.7B	$3.7B	$2.1B	$544M
Q3 24	$1.7B	$3.6B	$2.1B	$611M
Q3 25	$1.7B	$3.8B	$2.2B	$728M
Q4 25	$1.7B	$3.9B	$2.2B	$754M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$4.5B	$0	$4.5B
Q2 22	$3.7B	$0	$3.7B
Q3 22	$3.8B	$0	$3.8B
Q4 22	$5.4B	$0	$5.4B
Q1 23	$5.0B	$0	$5.0B
Q2 23	$3.4B	$0	$3.4B
Q3 23	$3.9B	$0	$3.9B
Q4 23	$4.7B	$0	$4.7B
Q1 24	$4.8B	$0	$4.8B
Q2 24	$4.6B	$0	$4.6B
Q3 24	$5.2B	$0	$5.2B
Q4 24	$4.8B	$0	$4.8B
Q1 25	$5.3B	$0	$5.3B
Q2 25	$4.8B	$0	$4.8B
Q3 25	$4.5B	$0	$4.5B
Q4 25	$5.1B	$0	$5.1B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	505M	—	—
Q3 22	501M	-0.8%	—
Q4 23	488M	-2.6%	—
Q2 24	483M	-1.0%	—
Q3 24	481M	-0.5%	-4.8%
Q3 25	472M	-2.0%	-5.9%
Q4 25	469M	-0.6%	-4.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$116.9K	72K
Q3 22	$121.6K	72K
Q4 23	$125.2K	66K
Q2 24	$124.6K	66K
Q3 24	$126.0K	66K
Q3 25	$132.0K	65K
Q4 25	$134.5K	65K

Revenue / Employee