Linde plc

Materials Industrial Gases Guildford, United Kingdom Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$34.0B
                    3y CAGR +0.6%
                    
                    P73
                    
                    +3.0%
                    
                    Net income
                    FY2025
                
$6.9B
                    Net margin +20.3%
                    
                    P91
                    
                    +5.1%
                    
                    Total assets
                    FY2025
                
$86.8B
                    ROA +7.9%
                    
                    P82
                    
                    +8.3%
                    
                    Operating cash flow
                    FY2025
                
$10.3B
                    FCF margin +15.0%
                    
                    P82
                    
                    +9.8%

10 yrs · FY2016–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 3 years

Total assets $86.8B

Total liabilities $47.1B

Shareholders equity $38.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	+4.1%	+4.0%	—
Accounts Receivable	+2.6%	-2.0%	—
Inventory	-1.4%	-8.0%	—
Other Current Assets	+5.4%	+36.0%	—
Total Current Assets	+2.8%	+2.6%	—
Property,Plant and Equipment	+7.3%	+0.9%	—
Goodwill	+2.2%	-3.0%	—
Intangible Assets	-2.2%	-8.6%	—
Long Term Investments	-4.1%	-2.7%	—
Other Noncurrent Assets	+21.9%	+31.8%	—
Total Assets	+3.6%	-0.8%	—
Liabilities
Accounts Payable	-3.5%	-17.0%	—
Accrued Liabilities	+1.2%	-4.1%	—
Deferred Revenue	-19.5%	-37.2%	—
Current Portion of Long Term Debt	+2.7%	+5.1%	—
Other Current Liabilities	+0.2%	-5.5%	—
Total Current Liabilities	-1.7%	-7.5%	—
Long Term Debt	+24.3%	+14.5%	—
Deferred Revenue Noncurrent	+0.3%	-0.6%	—
Other Noncurrent Liabilities	+7.0%	+5.5%	—
Total Liabilities	+8.9%	+2.4%	—
Equity
Common Stock	+0.0%	+0.0%	—
Additional Paid In Capital	-0.5%	-0.5%	—
Retained Earnings	+37.0%	+42.8%	—
Treasury Stock	+92.1%	+131.5%	—
Accumulated Other Comprehensive Income	—	—	—
Total Stockholders Equity	-1.9%	-4.1%	—
Noncontrolling Interest	+4.3%	+1.5%	—
Temporary Equity and Other	+0.0%	+0.0%	—
Total Liabilitiesand Equity	+3.6%	-0.8%	—

Income Statement

Revenue, expense, and profitability

18 accounts · 3 years

Revenue $34.0B

Operating income $8.9B

Net income $6.9B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+1.7%	+0.5%	—
Expenses Cost of Revenue	-0.3%	-2.0%	—
Expenses Research and Development	+0.3%	+2.7%	—
Expenses Selling,General and Administrative	+2.1%	+1.3%	—
Expenses Depreciation and Amortization	-0.7%	-0.9%	—
Expenses Restructuring and Asset Impairment	+161.2%	+262.5%	—
Expenses Other Operating Expenses	+18.9%	—	—
Other Income Expense Operating Income	+5.5%	+7.6%	—
Other Income Expense Interest Expense	+12.9%	+28.0%	—
Other Income Expense Other Income/expense	+18.2%	+15.9%	—
Other Income Expense Income Before Tax	+5.5%	+7.3%	—
Income Tax Income Tax Expense	+4.7%	+10.4%	—
net Income Other Items Below Tax	—	—	—
net Income net Income	+5.5%	+5.9%	—
net Income Comprehensive Income	+10.6%	-11.3%	—
Earnings Per Share Basic Eps	+7.5%	+8.0%	—
Earnings Per Share Diluted Eps	+7.7%	+8.2%	—
Earnings Per Share Weighted Average Shares Diluted	-2.1%	-2.1%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $10.3B

Investing cash flow $-5.7B

Financing cash flow $-4.6B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	+5.5%	+5.9%	—
Operating Activities Depreciation and Amortization	-0.7%	-0.9%	—
Operating Activities Stock Based Compensation	+7.8%	+13.5%	—
Operating Activities Deferred Income Taxes	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	—	—	—
Operating Activities Other Non Cash Items	—	—	—
Operating Activities net Cash From Operating Activities	+5.5%	+1.3%	—
Investing Activities Capital Expenditures	—	—	—
Investing Activities Business Acquisitions	—	—	—
Investing Activities Other Investing Activities	—	+142.9%	—
Investing Activities net Cash From Investing Activities	—	—	—
Financing Activities Proceeds From Debt	+53.4%	+121.4%	—
Financing Activities Repayment of Debt	—	—	—
Financing Activities Repurchase of Common Stock	—	—	—
Financing Activities Dividends Paid	—	—	—
Financing Activities Proceeds From Stock Issuance	-16.5%	-6.1%	—
Financing Activities Other Financing Activities	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—
Cash Reconciliation net Change In Cash	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+48.8%	+48.1%	+46.8%
Operating margin	+26.3%	+26.2%	+24.4%
Net margin	+20.3%	+19.9%	+18.9%
FCF margin	+15.0%	+14.9%	+16.8%
Growth
Revenue CAGR (3y)	+0.6%	+2.3%	+6.4%
Returns
ROE	+18.0%	+17.2%	+15.6%
ROA	+7.9%	+8.2%	+7.7%
ROIC	+11.5%	+12.1%	+11.4%
Liquidity
Current ratio	0.88x	0.89x	0.80x
Quick ratio	0.66x	0.65x	0.60x
Leverage
D/E	1.23x	1.07x	1.00x
Interest coverage	34.99x	33.73x	40.12x
Efficiency
Asset turnover	0.39x	0.41x	0.41x
Cash conversion cycle	+37d	+39d	+34d

Valuation

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FY2025 fundamentals · no price

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Linde plc

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