Linde (LIN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Linde

NasdaqGS•Basic Materials•Specialty Chemicals

$458.48-3.61(-0.01%)After hours

Market Cap

$211.66B

P/E

29.2x

P/S

6.0x

P/B

5.4x

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.

How this company scores

GoodMetricSide Score: 71/100

Strongest: Profitability (22/25); weakest: Balance Sheet & Red Flags (14/25).

Profitability22/25

Growth19/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality16/25

Strengths

Strong marginsHigh ROEConsistent free cash flowProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 29.2x5y range 28.9x – 46.0x

Currently near its 20-quarter median.

P/S · 6.0x5y range 4.0x – 6.9x

Currently near its 20-quarter median.

P/B · 5.4x5y range 3.5x – 6.0x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $211.66B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $35.45B
Q. Revenue: $9.29B
TTM EBITDA: $13.20B
TTM Op. Income: $9.38B
Q. Op. Income: $2.55B
TTM Net Income: $7.24B
Q. Net Income: $1.93B
EPS: $4.17
Shares Out.: $462.52M

$35.45B in TTM revenue grew 6.6% YoY, reaching $9.29B last quarter. TTM EBITDA of $13.20B and TTM operating income of $9.38B show growth is flowing through to the bottom line. TTM net income of $7.24B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 47.7%
EBITDA Margin: 37.9%
Op. Margin: 27.5%
Net Margin: 20.8%

Op. margin of 27.5% is down 0.2% YoY — costs are rising relative to revenue. Net margin at 20.8% and gross margin of 47.7% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 1% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 29.2x
P/S Ratio: 6.0x
P/B Ratio: 5.4x

At 29.2x P/E, the stock trades within typical market levels. P/S of 6.0x and P/B of 5.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 11% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $88.35B
Cash: $4.90B
Long-Term Debt: $20.68B
Book Value: $39.08B
D/E Ratio: 0.5
Debt/EBITDA: 5.9

With $88.35B in assets and $20.68B in long-term debt, D/E is 0.5and book value is $39.08B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 3% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $2.27B
TTM Free Cash Flow: $4.97B
FCF Margin: 14.0%
FCF / Net Income: 0.7

TTM FCF of $4.97B on $2.27B in operating cash flow. The FCF / Net Income ratio of 0.7x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 2% — a weakening trend.