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Linde plc
LINMaterialsGenerated Sep 5, 2026, 07:37 AM UTC
LIN (Linde plc) analytical snapshot. Revenue grew +3.0% YoY to $33.99B. 5-year revenue CAGR +2.0%; 10y CAGR +13.9%. Net margin at 20.30% (expanding ▲). Market cap $220.15B at $477.57 per share. Trailing P/E 32.69, P/S 6.48, P/B 5.63. EV/Operating income ≈ 26.72 (EV $238.40B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -13 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$220.15B
460.98M shares
Price
$477.57
NMS
P/E (ttm)
32.69
Revenue (FY)
$33.99B
YoY +3.0%
Net margin
20.30%
▲ 7.87pp
Free cash flow
$5.09B
14.97% margin
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 25, 2026. Latest quarterly report (10-Q) filed Jul 31, 2026. 14 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 25, 2026.
- Latest quarterly report (10-Q) filed Jul 31, 2026.
- 14 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Linde plc; broad institutional reporting.
- Recent filers include ALTRINSIC GLOBAL ADVISORS LLC, LANSDOWNE PARTNERS (UK) LLP, SAL Trading, LLC.
- 1 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 12 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 25, 2026
Annual report
Latest 10-Q
Jul 31, 2026
8-K (recent)
14
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
1
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| ALTRINSIC GLOBAL ADVISORS LLC | 13F-HR | May 15, 2023 |
| LANSDOWNE PARTNERS (UK) LLP | 13F-HR | Nov 14, 2023 |
| SAL Trading, LLC | 13F-HR | May 16, 2023 |
| LOCUST WOOD CAPITAL ADVISERS, LLC | 13F-HR | Jul 24, 2019 |
| Lord & Richards Wealth Management, LLC | 13F-HR | Nov 4, 2025 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jul 31, 2026 | 8-K | FORM 8-K |
| Jul 30, 2026 | 8-K | 8-K |
| May 13, 2026 | 8-K | 8-K |
| May 1, 2026 | 8-K | FORM 8-K |
| Feb 5, 2026 | 8-K | FORM 8-K |
| Dec 3, 2025 | 8-K | 8-K |
| Nov 20, 2025 | 8-K | 8-K |
| Oct 31, 2025 | 8-K | FORM 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -5Stable
70% conf
1 positive signal(s), 2 watch item(s) detected from XBRL filing diff analysis. 1 positive signal(s) versus 0 risk signal(s). The filing exhibits more constructive indicators than concerns, though individual risk factors should still be monitored.
- Operating cash flow exceeds net income: OCF is 1.50x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Goodwill is 32% of total assets: Goodwill of $27.93B represents a large share of the balance sheet. If acquired businesses underperform, a non-cash impairment charge could materially impact earnings. Monitor segment performance and acquisition integration metrics.
- NEW: Restructuring: Restructuring appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: 1 positive signal(s) versus 0 risk signal(s). The filing exhibits more constructive indicators than concerns, though individual risk factors should still be monitored.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Restructuring.
Revenue
$33.99B
+3.0% YoY
Operating income
$8.92B
+3.3% YoY
Net income
$6.90B
+5.1% YoY
Operating cash flow
$10.35B
+9.8% YoY
Capex
$5.26B
+17.0% YoY
Total assets
$86.82B
+8.3% YoY
Total liabilities
$47.08B
+15.8% YoY
Long-term debt
$22.48B
+29.2% YoY
Filing quality score
72/100
1 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $33.01B | $33.99B | $981.0M | +3.0% |
| Operating income | $8.63B | $8.92B | $288.0M | +3.3% |
| Net income | $6.57B | $6.90B | $333.0M | +5.1% |
| Operating cash flow | $9.42B | $10.35B | $927.0M | +9.8% |
| Capex | $4.50B | $5.26B | $764.0M | +17.0% |
| Total assets | $80.15B | $86.82B | $6.67B | +8.3% |
| Total liabilities | $40.66B | $47.08B | $6.42B | +15.8% |
| Long-term debt | $17.40B | $22.48B | $5.08B | +29.2% |
| Cash & equivalents | $4.85B | $5.06B | $206.0M | +4.2% |
| Stockholders equity | $38.09B | $38.24B | $153.0M | +0.4% |
| Inventory | $1.95B | $2.06B | $109.0M | +5.6% |
| Accounts receivable | $4.62B | $4.97B | $344.0M | +7.4% |
| R&D expense | $150.0M | $147.0M | $-3.0M | -2.0% |
| SG&A expense | $3.34B | $3.43B | $96.0M | +2.9% |
| Interest expense | $555.0M | $575.0M | $20.0M | +3.6% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | NumberOfOperatingSegments |
| Removed | AccruedIncomeTaxes, AccruedInsuranceCurrent, AccruedInsuranceNoncurrent, AccruedSalariesCurrent, AllowanceForDoubtfulAccountsReceivableCurrent, AllowanceForDoubtfulAccountsReceivableNoncurrent, AmortizationOfIntangibleAssets, AssetRetirementObligationsNoncurrent, BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentConsiderationTransferred, CurrentFederalTaxExpenseBenefit |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Impairment charge | medium | 5 | 3 | Ongoing |
| Restructuring | medium | 5 | 0 | NEW |
| Off-balance sheet arrangements | medium | 5 | 2 | Ongoing |
| Related party transactions | low | 5 | 2 | Ongoing |
Filing signal breakdown
Red flags: 0
Positive: 1
Watch: 2
Red flags
Positive
Watch
Free previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 10Stable
80% conf
Revenue grew +3.0% YoY to $33.99B. 5-year revenue CAGR +2.0%; 10y CAGR +13.9%. Net margin at 20.30% (expanding ▲).
- Revenue grew +3.0% YoY to $33.99B.
- 5-year revenue CAGR +2.0%; 10y CAGR +13.9%.
- Net margin at 20.30% (expanding ▲).
- Return on equity 18.04%, ROA 7.95%, ROIC 14.69%.
- Gross margin 0.00%, operating margin 26.25%.
- Free cash flow margin 14.97% ($5.09B).
- Net income up ▲ +5.1% YoY.
- Debt/equity 0.59, current ratio 0.88, net debt $18.25B.
- Asset turnover 0.38 — capital efficiency.
Revenue (FY)
$33.99B
YoY +3.0%
Net margin
20.30%
▲ 7.87pp
ROE
18.04%
ROA 7.95%
ROIC
14.69%
EPS (diluted)
$14.61
FY2025
Free cash flow
$5.09B
14.97% margin
Debt / equity
0.59
Cash $4.90B
Current ratio
0.88
Equity $39.08B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $33.01B | +0.5% | 0.00 | 26.16 | 19.89 | $4.93B | 17.23 |
| 2025 | $33.99B | +3.0% | 0.00 | 26.25 | 20.30 | $5.09B | 18.04 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 30, 2024 | $8.36B | +2.5% | — | 18.55% |
| Mar 31, 2025 | $8.11B | +0.1% | -2.9% | 20.62% |
| Jun 30, 2025 | $8.49B | +2.8% | +4.7% | 20.79% |
| Sep 30, 2025 | $8.62B | +3.1% | +1.4% | 22.39% |
| Mar 31, 2026 | $8.78B | +8.2% | +1.9% | 21.15% |
| Jun 30, 2026 | $9.29B | +9.3% | +5.8% | 20.76% |
Sources:SEC EDGAR — Company Facts (XBRL)
+8 more years of history, charts & full breakdown Pro
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Valuation Analyst
score -50Deteriorating
95% conf
Market cap $220.15B at $477.57 per share. Trailing P/E 32.69, P/S 6.48, P/B 5.63. EV/Operating income ≈ 26.72 (EV $238.40B).
- Market cap $220.15B at $477.57 per share.
Market cap
$220.15B
460.98M shares
P/E (ttm)
32.69
P/S
6.48
P/B
5.63
EV
$238.40B
Intrinsic (DCF)
$240.94
-49.5% vs price
ProFull breakdown & reasoning locked
Price & Technicals
Technical Analyst
score -50Deteriorating
85% conf
Price $477.57 — downtrend (below 200-DMA); 1-month momentum negative. RSI(14) 53.66.
- Price $477.57 — downtrend (below 200-DMA); 1-month momentum negative.
Price
$477.57
NMS
RSI(14)
53.66
50-DMA
$501.51
200-DMA
$480.48
Volatility (ann.)
19.18%
52w range
$387.78–$548.20
-12.9% from high
ProFull breakdown & reasoning locked
Macro & Rates
Macro Analyst
score 30Improving
80% conf
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.77%.
- Market regime: Risk-on · Supportive.
GDP growth
1.50%
CPI (YoY)
+3.3%
Fed funds
3.63%
10Y yield
4.77%
10Y−2Y
0.41pp
Unemployment
4.10%
ProFull breakdown & reasoning locked
Risk Scorecard
Risk Analyst
score -15Deteriorating
90% conf
Composite risk Moderate. Leverage debt/equity 0.59 (moderate). Liquidity current ratio 0.88 (stretched).
- Composite risk: Moderate.
Risk level
Moderate
Debt / equity
0.59
Current ratio
0.88
Margin stdev
6.53pp
Cash / assets
5.54%
Liab / assets
54.01%
ProFull breakdown & reasoning locked
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3 sections free · 4 Pro previews · composite -13
Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Linde plc is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
14.32
Fed funds
3.63%
CPI YoY
+3.3%
Analytical read
deterministic previewMarket regime: Risk-on · Supportive..
Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow LIN stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Intuit Inc. INTU | 35 | Supportive |
| CF Industries CF | 34 | Supportive |
| MercadoLibre Inc. MELI | 29 | Supportive |
| Shopify Inc. SHOP | 27 | Supportive |
| Alphabet Inc. GOOGL | 26 | Supportive |
| Newmont Corp. NEM | 24 | Supportive |
| Booking Holdings BKNG | 24 | Supportive |
| Uber Technologies UBER | 24 | Supportive |
| Salesforce Inc. CRM | 23 | Supportive |
| Meta Platforms Inc. META | 23 | Supportive |
| Okta Inc. OKTA | 18 | Supportive |
| Qualcomm Inc. QCOM | 18 | Supportive |
| Roku Inc. ROKU | 17 | Supportive |
| Netflix Inc. NFLX | 17 | Supportive |
| Comcast Corp. CMCSA | 17 | Supportive |
| Microsoft Corp. MSFT | 16 | Supportive |
| T-Mobile US Inc. TMUS | 16 | Supportive |
| Marvell Technology MRVL | 16 | Supportive |
| Workday Inc. WDAY | 15 | Supportive |
| Adobe Inc. ADBE | 14 | Supportive |
| Pinterest Inc. PINS | 14 | Supportive |
| Datadog Inc. DDOG | 14 | Supportive |
| Airbnb Inc. ABNB | 12 | Supportive |
| Dollar General Corp. DG | 12 | Supportive |
| NVIDIA Corp. NVDA | 11 | Supportive |
| Energy Transfer ET | 8 | Supportive |
| ConocoPhillips COP | 8 | Supportive |
| Oracle Corp. ORCL | 8 | Supportive |
| Spotify Technology SPOT | 8 | Supportive |
| Lam Research Corp. LRCX | 8 | Supportive |
| Cloudflare Inc. NET | 8 | Supportive |
| Delta Air Lines DAL | 7 | Supportive |
| Valero Energy VLO | 7 | Supportive |
| Ulta Beauty Inc. ULTA | 6 | Supportive |
| ASML Holding NV ASML | 6 | Supportive |
| Exxon Mobil Corp. XOM | 6 | Supportive |
| Amazon.com Inc. AMZN | 5 | Supportive |
| IBM Corp. IBM | 4 | Supportive |
| Eaton Corp. ETN | 4 | Supportive |
| Advanced Micro Devices AMD | 4 | Supportive |
| United Airlines Holdings UAL | 3 | Supportive |
| Chipotle Mexican Grill CMG | 3 | Supportive |
| GE Aerospace GE | 3 | Supportive |
| Snowflake Inc. SNOW | 2 | Supportive |
| Zscaler Inc. ZS | 2 | Supportive |
| Devon Energy DVN | 1 | Supportive |
| Verizon Communications VZ | 1 | Supportive |
| Hess Corp. HES | 0 | Supportive |
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| Occidental Petroleum OXY | -1 | Supportive |
| Honeywell International HON | -1 | Supportive |
| Micron Technology MU | -2 | Supportive |
| General Dynamics GD | -2 | Supportive |
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| Applied Materials Inc. AMAT | -5 | Supportive |
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| Linde plc LIN● you | -13 | Supportive |
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| Deere & Co. DE | -26 | Supportive |
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| Dow Inc. DOW | -29 | Supportive |
| Marriott International MAR | -30 | Supportive |
| Home Depot Inc. HD | -31 | Supportive |
| Starbucks Corp. SBUX | -32 | Supportive |
| Tesla Inc. TSLA | -40 | Supportive |
| ON Semiconductor Corp. ON | -44 | Supportive |