(LIN) Linde Ordinary Shares - NASDAQ
Sector: Basic Materials | Industry: Specialty Chemicals | Exchange: NASDAQ (USA) | Market Cap: 241.105m USD | Total Return: 13.4% in 12m
Avg Turnover: 1.20B
EPS Trend: 99.1%
Qual. Beats: 4
Rev. Trend: 81.2%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Confidence
Linde plc is a global leader in the industrial gases sector, producing and distributing atmospheric gases such as oxygen and nitrogen alongside specialty process gases like hydrogen and helium. The company operates a dual-business model that combines gas supply with a proprietary engineering division focused on designing and constructing large-scale chemical and gas processing plants. This integrated approach allows Linde to serve diverse end-markets, including healthcare, electronics, and energy production, across major economies in the Americas, Europe, and Asia-Pacific.
The industrial gas industry is characterized by high barriers to entry due to the capital-intensive nature of air separation units and the logistical complexity of gas distribution. Linde typically utilizes long-term, take-or-pay contracts for on-site supply, which provides a high degree of revenue stability and integrates the company directly into the supply chains of its industrial customers. For a deeper look at company valuation metrics, consider reviewing the latest data on ValueRay.
- Expansion of global clean hydrogen infrastructure drives long-term capital expenditure growth
- Resilience in long-term take-or-pay contracts stabilizes cash flow during macro volatility
- Semiconductor manufacturing expansion in Asia and US boosts high-margin electronic gas demand
- Energy price fluctuations impact production costs and industrial customer manufacturing output
- Strategic pricing power in global industrial gas markets offsets persistent inflationary pressures
| Net Income: 7.12b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.03 > 1.0 |
| NWC/Revenue: -7.62% < 20% (prev -2.69%; Δ -4.93% < -1%) |
| CFO/TA 0.12 > 3% & CFO 10.4b > Net Income 7.12b |
| Net Debt (23.4b) to EBITDA (13.8b): 1.70 < 3 |
| Current Ratio: 0.83 > 1.5 & < 3 |
| Outstanding Shares: last quarter (466.3m) vs 12m ago -2.09% < -2% |
| Gross Margin: 45.99% > 18% (prev 36.93%; Δ 9.07% > 0.5%) |
| Asset Turnover: 41.01% > 50% (prev 39.92%; Δ 1.09% > 0%) |
| Interest Coverage Ratio: 36.42 > 6 (EBIT TTM 9.98b / Interest Expense TTM 274.0m) |
| A: -0.03 (Total Current Assets 12.8b - Total Current Liabilities 15.4b) / Total Assets 86.3b |
| B: 0.20 (Retained Earnings 17.6b / Total Assets 86.3b) |
| C: 0.12 (EBIT TTM 9.98b / Avg Total Assets 84.5b) |
| D: 0.83 (Book Value of Equity 38.6b / Total Liabilities 46.2b) |
| Altman-Z'' = 2.14 = BBB |
| DSRI: 1.03 (Receivables 5.64b/5.24b, Revenue 34.7b/33.0b) |
| GMI: 0.80 (GM 36.93% / 45.99%) |
| AQI: 0.99 (AQ_t 0.52 / AQ_t-1 0.52) |
| SGI: 1.05 (Revenue 34.7b / 33.0b) |
| TATA: -0.04 (NI 7.12b - CFO 10.4b) / TA 86.3b) |
| Beneish M = -3.16 (Cap -4..+1) = AA |
As of June 18, 2026, the stock is trading at USD 515.85 with a total of 2,042,895 shares traded.
Over the past week, the price has changed by +1.31%,
over one month by +1.30%,
over three months by +4.74% and
over the past year by +13.43%.
Linde Ordinary Shares has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy LIN.
- StrongBuy: 12
- Buy: 6
- Hold: 9
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 545.4 | 5.7% |
P/E Trailing = 34.6038
P/E Forward = 29.2398
P/S = 6.9573
P/B = 6.2768
P/EG = 2.2159
Revenue TTM = 34.7b USD
EBIT TTM = 9.98b USD
EBITDA TTM = 13.8b USD
Long Term Debt = 19.9b USD (from longTermDebt, last quarter)
Short Term Debt = 6.46b USD (from shortTermDebt, last quarter)
Debt = 27.4b USD (from shortLongTermDebtTotal, last quarter) + Leases 1.08b
Net Debt = 23.4b USD (calculated: Debt 27.4b - CCE 3.96b)
Enterprise Value = 265b USD (241b + Debt 27.4b - CCE 3.96b)
Interest Coverage Ratio = 36.42 (Ebit TTM 9.98b / Interest Expense TTM 274.0m)
EV/FCF = 51.91x (Enterprise Value 265b / FCF TTM 5.10b)
FCF Yield = 1.93% (FCF TTM 5.10b / Enterprise Value 265b)
FCF Margin = 14.70% (FCF TTM 5.10b / Revenue TTM 34.7b)
Net Margin = 20.56% (Net Income TTM 7.12b / Revenue TTM 34.7b)
Gross Margin = 45.99% ((Revenue TTM 34.7b - Cost of Revenue TTM 18.7b) / Revenue TTM)
Gross Margin QoQ = 48.49% (prev 48.12%)
Tobins Q-Ratio = 3.06 (Enterprise Value 265b / Total Assets 86.3b)
Interest Expense / Debt = 1.00% (Interest Expense 274.0m / Debt 27.4b)
Taxrate = 21.95% (2.02b / 9.18b)
NOPAT = 7.79b (EBIT 9.98b * (1 - 21.95%))
Current Ratio = 0.83 (Total Current Assets 12.8b / Total Current Liabilities 15.4b)
Debt / Equity = 0.71 (Debt 27.4b / totalStockholderEquity, last quarter 38.6b)
Debt / EBITDA = 1.70 (Net Debt 23.4b / EBITDA 13.8b)
Debt / FCF = 4.60 (Net Debt 23.4b / FCF TTM 5.10b)
Total Stockholder Equity = 38.5b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.43% (Net Income 7.12b / Total Assets 86.3b)
RoE = 18.51% (Net Income TTM 7.12b / Total Stockholder Equity 38.5b)
RoCE = 17.10% (EBIT 9.98b / Capital Employed (Equity 38.5b + L.T.Debt 19.9b))
RoIC = 10.29% (NOPAT 7.79b / Invested Capital 75.6b)
WACC = 6.33% (E(241b)/V(269b) * Re(6.96%) + D(27.4b)/V(269b) * Rd(1.00%) * (1-Tc(0.22)))
Discount Rate = 6.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -100.00 | Cagr: -2.02%
[DCF] Terminal Value 75.93% ; FCFF base≈5.02b ; Y1≈5.20b ; Y5≈5.86b
[DCF] Fair Price = 145.1 (EV 90.5b - Net Debt 23.4b = Equity 67.1b / Shares 462.3m; r=8.35% [WACC [floored]]; 5y FCF grow 3.77% → 2.50% )
EPS Correlation: 99.05 | EPS CAGR: 8.47% | SUE: 3.01 | # QB: 4
Revenue Correlation: 81.18 | Revenue CAGR: 1.62% | SUE: 1.18 | # QB: 1
EPS current Quarter (2026-06-30): EPS=4.39 | Chg30d=N/A | Revisions=+62% | Analysts=18
EPS next Quarter (2026-09-30): EPS=4.61 | Chg30d=N/A | Revisions=-5% | Analysts=17
EPS current Year (2026-12-31): EPS=17.95 | Chg30d=N/A | Revisions=+56% | GrowthEPS=+9.0% | GrowthRev=+7.7%
EPS next Year (2027-12-31): EPS=19.71 | Chg30d=N/A | Revisions=+25% | GrowthEPS=+9.8% | GrowthRev=+4.6%
[Analyst] Revisions Ratio: +62%