(LIN) Linde Ordinary Shares - Overview
Stock: Industrial Gases, Oxygen, Nitrogen, Hydrogen, Helium
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.34% |
| Yield on Cost 5y | 2.54% |
| Yield CAGR 5y | 9.07% |
| Payout Consistency | 100.0% |
| Payout Ratio | 36.5% |
| Risk 5d forecast | |
|---|---|
| Volatility | 19.8% |
| Relative Tail Risk | -3.02% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.03 |
| Alpha | -10.48 |
| Character TTM | |
|---|---|
| Beta | 0.579 |
| Beta Downside | 0.592 |
| Drawdowns 3y | |
|---|---|
| Max DD | 19.18% |
| CAGR/Max DD | 0.65 |
Description: LIN Linde Ordinary Shares January 26, 2026
Linde plc (NASDAQ: LIN) is a globally diversified industrial-gas producer headquartered in Woking, UK, operating major assets across the United States, China, Germany, the United Kingdom, Australia, Mexico, Brazil and other regions. The firm supplies atmospheric gases (oxygen, nitrogen, argon, rare gases) and specialty/process gases (hydrogen, helium, CO₂, electronic gases, acetylene, etc.), and it also engineers turnkey air-separation, hydrogen, synthesis, olefin and natural-gas plants for third-party customers. Its end-markets span healthcare, chemicals & energy, manufacturing, metals & mining, food & beverage, and electronics.
Key recent metrics (FY 2023): revenue $31.6 bn (+5 % YoY), adjusted EBITDA margin ≈ 27 %, and free cash flow conversion of 68 % of EBITDA, reflecting strong pricing power amid tightening supply of specialty gases. The industrial-gases sector is driven by a projected 4.2 % CAGR through 2028, powered by rising demand for hydrogen in decarbonisation, increased healthcare oxygen usage post-COVID, and expanding semiconductor manufacturing that consumes high-purity electronic gases. Linde’s capex plan of $3.2 bn for 2024–2026 targets new hydrogen electrolyser capacity and upgrades to its air-separation units, positioning the company to capture growth in the ESG-linked gas market.
For a deeper quantitative dive into Linde’s valuation and scenario analysis, explore the data tools available on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 6.94b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.28 > 1.0 |
| NWC/Revenue: -5.51% < 20% (prev -4.84%; Δ -0.67% < -1%) |
| CFO/TA 0.12 > 3% & CFO 10.35b > Net Income 6.94b |
| Net Debt (21.93b) to EBITDA (12.85b): 1.71 < 3 |
| Current Ratio: 0.88 > 1.5 & < 3 |
| Outstanding Shares: last quarter (468.7m) vs 12m ago -2.12% < -2% |
| Gross Margin: 43.33% > 18% (prev 0.37%; Δ 4296 % > 0.5%) |
| Asset Turnover: 40.71% > 50% (prev 41.18%; Δ -0.47% > 0%) |
| Interest Coverage Ratio: 33.41 > 6 (EBITDA TTM 12.85b / Interest Expense TTM 272.0m) |
Altman Z'' 1.45
| A: -0.02 (Total Current Assets 13.32b - Total Current Liabilities 15.20b) / Total Assets 86.82b |
| B: 0.19 (Retained Earnings 16.61b / Total Assets 86.82b) |
| C: 0.11 (EBIT TTM 9.09b / Avg Total Assets 83.48b) |
| D: 0.22 (Book Value of Equity 10.38b / Total Liabilities 47.08b) |
| Altman-Z'' Score: 1.45 = BB |
Beneish M -3.18
| DSRI: 1.00 (Receivables 5.24b/5.06b, Revenue 33.99b/33.01b) |
| GMI: 0.84 (GM 43.33% / 36.61%) |
| AQI: 1.01 (AQ_t 0.52 / AQ_t-1 0.52) |
| SGI: 1.03 (Revenue 33.99b / 33.01b) |
| TATA: -0.04 (NI 6.94b - CFO 10.35b) / TA 86.82b) |
| Beneish M-Score: -3.18 (Cap -4..+1) = AA |
What is the price of LIN shares?
Over the past week, the price has changed by -0.83%, over one month by +2.76%, over three months by +8.88% and over the past year by +0.35%.
Is LIN a buy, sell or hold?
- StrongBuy: 12
- Buy: 6
- Hold: 9
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the LIN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 508.6 | 11.4% |
| Analysts Target Price | 508.6 | 11.4% |
| ValueRay Target Price | 504.2 | 10.5% |
LIN Fundamental Data Overview February 08, 2026
P/E Forward = 26.455
P/S = 6.2734
P/B = 5.7236
P/EG = 2.1498
Revenue TTM = 33.99b USD
EBIT TTM = 9.09b USD
EBITDA TTM = 12.85b USD
Long Term Debt = 18.59b USD (from longTermDebt, two quarters ago)
Short Term Debt = 6.31b USD (from shortTermDebt, last quarter)
Debt = 26.99b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 21.93b USD (from netDebt column, last quarter)
Enterprise Value = 232.12b USD (210.18b + Debt 26.99b - CCE 5.06b)
Interest Coverage Ratio = 33.41 (Ebit TTM 9.09b / Interest Expense TTM 272.0m)
EV/FCF = 45.61x (Enterprise Value 232.12b / FCF TTM 5.09b)
FCF Yield = 2.19% (FCF TTM 5.09b / Enterprise Value 232.12b)
FCF Margin = 14.97% (FCF TTM 5.09b / Revenue TTM 33.99b)
Net Margin = 20.42% (Net Income TTM 6.94b / Revenue TTM 33.99b)
Gross Margin = 43.33% ((Revenue TTM 33.99b - Cost of Revenue TTM 19.26b) / Revenue TTM)
Gross Margin QoQ = 48.12% (prev 38.02%)
Tobins Q-Ratio = 2.67 (Enterprise Value 232.12b / Total Assets 86.82b)
Interest Expense / Debt = 0.24% (Interest Expense 64.0m / Debt 26.99b)
Taxrate = 23.92% (481.0m / 2.01b)
NOPAT = 6.91b (EBIT 9.09b * (1 - 23.92%))
Current Ratio = 0.88 (Total Current Assets 13.32b / Total Current Liabilities 15.20b)
Debt / Equity = 0.71 (Debt 26.99b / totalStockholderEquity, last quarter 38.24b)
Debt / EBITDA = 1.71 (Net Debt 21.93b / EBITDA 12.85b)
Debt / FCF = 4.31 (Net Debt 21.93b / FCF TTM 5.09b)
Total Stockholder Equity = 38.35b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.31% (Net Income 6.94b / Total Assets 86.82b)
RoE = 18.10% (Net Income TTM 6.94b / Total Stockholder Equity 38.35b)
RoCE = 15.96% (EBIT 9.09b / Capital Employed (Equity 38.35b + L.T.Debt 18.59b))
RoIC = 10.87% (NOPAT 6.91b / Invested Capital 63.63b)
WACC = 7.15% (E(210.18b)/V(237.17b) * Re(8.05%) + D(26.99b)/V(237.17b) * Rd(0.24%) * (1-Tc(0.24)))
Discount Rate = 8.05% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.05%
[DCF Debug] Terminal Value 80.72% ; FCFF base≈5.02b ; Y1≈4.81b ; Y5≈4.67b
Fair Price DCF = 165.2 (EV 99.07b - Net Debt 21.93b = Equity 77.14b / Shares 466.9m; r=7.15% [WACC]; 5y FCF grow -5.61% → 2.90% )
EPS Correlation: 96.79 | EPS CAGR: 10.08% | SUE: 0.05 | # QB: 0
Revenue Correlation: 30.07 | Revenue CAGR: 1.75% | SUE: 0.76 | # QB: 0
EPS next Quarter (2026-03-31): EPS=4.27 | Chg30d=+0.015 | Revisions Net=+1 | Analysts=15
EPS current Year (2026-12-31): EPS=17.80 | Chg30d=-0.020 | Revisions Net=+2 | Growth EPS=+8.1% | Growth Revenue=+4.5%
EPS next Year (2027-12-31): EPS=19.46 | Chg30d=-0.084 | Revisions Net=+0 | Growth EPS=+9.3% | Growth Revenue=+5.2%