Linde plc

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

                    Revenue
                    FY2025
                
$34.0B
                    3y CAGR +0.6%
                    
                    P65
                    
                    +3.0%
                    
                    Net income
                    FY2025
                
$6.9B
                    Net margin +20.3%
                    
                    P92
                    
                    +5.1%
                    
                    Total assets
                    FY2025
                
$86.8B
                    ROA +7.9%
                    
                    P85
                    
                    +8.3%
                    
                    Operating cash flow
                    FY2025
                
$10.3B
                    FCF margin +15.0%
                    
                    P91
                    
                    +9.8%

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

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

31 accounts · 10 years

Total assets $86.8B

Total liabilities $47.1B

Shareholders equity $38.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	14.9%	14.7%	14.2%	16.3%	9.2%	13.8%	9.6%	30.1%	0.0%	—
Short Term Investments	0.0%	0.3%	0.6%	0.6%	0.1%	0.1%	0.1%	0.5%	0.0%	0.0%
Accounts Receivable	14.6%	14.0%	14.4%	13.7%	14.6%	15.3%	15.3%	29.0%	0.0%	0.0%
Inventory	6.0%	5.9%	6.4%	5.9%	5.6%	6.3%	6.0%	11.1%	—	—
Prepaid Expenses	2.9%	1.8%	1.8%	1.8%	1.7%	1.9%	1.8%	2.5%	0.1%	—
Other Current Assets	2.9%	3.8%	2.8%	2.8%	3.2%	4.1%	4.0%	7.3%	0.1%	0.0%
Total Current Assets	39.2%	39.2%	38.4%	39.1%	33.0%	40.1%	36.7%	116.4%	—	—
Property,Plant and Equipment	83.2%	75.1%	74.7%	70.6%	84.4%	105.4%	103.0%	200.3%	104.1%	0.0%
Goodwill	82.2%	78.6%	81.4%	77.4%	87.8%	103.5%	95.7%	181.1%	28.5%	0.0%
Intangible Assets	34.9%	34.3%	37.7%	37.2%	44.8%	59.4%	57.2%	109.3%	18.4%	0.0%
Other Noncurrent Assets	10.1%	9.2%	7.0%	7.4%	6.4%	7.9%	7.1%	9.9%	—	—
Total Assets	255.4%	242.8%	246.0%	238.8%	265.0%	323.9%	306.8%	629.5%	0.1%	—
Liabilities
Accounts Payable	8.3%	7.6%	9.2%	9.0%	11.4%	11.4%	11.6%	21.7%	—	—
Accrued Liabilities	0.0%	4.0%	4.5%	4.6%	4.1%	4.5%	3.8%	8.0%	0.0%	0.0%
Deferred Revenue	3.6%	3.6%	5.8%	9.2%	9.5%	6.5%	6.2%	10.4%	—	—
Current Portion of Long Term Debt	5.3%	6.2%	3.8%	4.8%	3.8%	11.9%	6.1%	10.0%	—	—
Other Current Liabilities	12.3%	11.9%	12.6%	12.2%	12.7%	15.9%	12.4%	25.3%	—	—
Total Current Liabilities	44.7%	44.1%	47.8%	49.4%	44.3%	50.4%	43.1%	87.3%	—	—
Long Term Debt	60.9%	46.5%	40.8%	36.6%	36.8%	44.6%	37.9%	82.8%	—	—
Deferred Revenue Noncurrent	3.8%	3.3%	3.2%	—	—	—	—	51.3%	—	—
Deferred Tax Liabilities	0.0%	17.1%	17.5%	17.6%	20.3%	24.6%	24.4%	50.1%	0.0%	0.0%
Other Noncurrent Liabilities	12.8%	12.2%	11.6%	8.4%	13.6%	20.3%	17.3%	23.2%	0.0%	0.0%
Total Liabilities	138.5%	123.2%	120.9%	114.7%	117.4%	141.9%	123.9%	244.6%	—	—
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	116.0%	120.0%	121.2%	119.9%	130.5%	147.6%	142.4%	270.6%	0.0%	0.4%
Retained Earnings	48.9%	38.3%	26.9%	61.6%	60.8%	63.1%	59.7%	111.4%	-0.0%	—
Treasury Stock	34.0%	22.0%	9.5%	15.4%	31.9%	19.7%	11.2%	4.2%	0.0%	2.3%
Accumulated Other Comprehensive Income	-18.3%	-20.9%	-17.7%	-17.3%	-16.4%	-17.2%	-17.1%	-30.0%	-0.0%	0.0%
Noncontrolling Interest	4.4%	4.2%	4.1%	4.0%	4.5%	8.3%	8.7%	37.0%	0.1%	—
Total Stockholders Equity	112.5%	115.4%	120.9%	120.0%	143.0%	173.7%	173.8%	347.8%	-0.0%	51.7%
Total Liabilitiesand Equity	255.4%	242.8%	246.0%	238.8%	265.0%	323.9%	306.8%	629.5%	0.1%	—

Income Statement

Revenue, expense, and profitability

19 accounts · 10 years

Revenue $34.0B

Operating income $8.9B

Net income $6.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Research and Development	0.4%	0.5%	0.4%	0.4%	0.5%	0.6%	0.7%	0.8%	0.8%	0.9%
Expenses Selling,General and Administrative	10.1%	10.1%	10.0%	9.3%	10.4%	11.7%	12.2%	11.0%	10.6%	10.9%
Expenses Depreciation and Amortization	11.1%	11.5%	11.6%	12.6%	15.1%	17.0%	16.6%	12.3%	10.4%	10.7%
Expenses Share Based Compensation	0.5%	0.5%	0.4%	0.3%	0.4%	0.5%	0.3%	0.4%	0.5%	0.4%
Expenses Restructuring and Asset Impairment	0.8%	0.4%	0.1%	3.1%	0.9%	1.9%	2.0%	2.1%	0.5%	—
Expenses Operating Expenses	0.9%	0.9%	0.9%	0.9%	1.0%	1.3%	—	—	—	—
Other Income Expense Operating Income	26.3%	26.2%	24.4%	16.1%	16.2%	12.2%	10.4%	35.4%	21.5%	21.3%
Other Income Expense Interest Income	0.6%	0.7%	0.6%	0.4%	0.1%	0.2%	0.4%	0.5%	0.4%	—
Other Income Expense Interest Expense	1.7%	1.7%	1.5%	0.8%	0.3%	0.4%	0.1%	1.4%	1.4%	1.8%
Other Income Expense Other Income/expense	-0.2%	0.6%	-0.1%	-0.2%	-0.1%	-0.2%	0.2%	0.1%	0.0%	0.2%
Other Income Expense Income Before Tax	26.2%	26.0%	24.3%	16.6%	16.6%	12.4%	10.4%	34.0%	20.1%	19.4%
Income Tax Income Tax Expense	5.9%	6.1%	5.5%	4.3%	4.1%	3.1%	2.7%	5.5%	9.0%	5.2%
net Income net Income	20.3%	19.9%	18.9%	12.4%	12.4%	9.2%	8.1%	29.5%	11.0%	14.2%
net Income Comprehensive Income	22.2%	16.6%	18.8%	10.2%	11.3%	9.6%	6.8%	27.1%	15.4%	14.2%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.4%	1.5%	1.5%	1.5%	1.7%	1.9%	1.9%	2.2%	2.5%	2.7%
Earnings Per Share Weighted Average Shares Diluted	1.4%	1.5%	1.5%	1.5%	1.7%	1.9%	1.9%	2.3%	2.5%	2.7%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $10.3B

Investing cash flow $-5.7B

Financing cash flow $-4.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	20.3%	19.9%	18.9%	12.4%	12.4%	9.2%	8.1%	29.5%	11.0%	14.2%
Operating Activities Depreciation and Amortization	11.1%	11.5%	11.6%	12.6%	15.1%	17.0%	16.6%	12.3%	10.4%	10.7%
Operating Activities Stock Based Compensation	0.5%	0.5%	0.4%	0.3%	0.4%	0.5%	0.3%	0.4%	0.5%	0.4%
Operating Activities Deferred Income Taxes	-1.4%	-0.4%	-0.3%	-1.1%	-0.8%	-1.4%	-1.1%	-1.3%	0.0%	-0.1%
Operating Activities Changes In Operating Assets and Liabilities	0.1%	0.5%	0.4%	2.8%	2.0%	-0.6%	0.3%	0.6%	1.6%	0.4%
Operating Activities net Cash From Operating Activities	30.5%	28.6%	28.3%	26.6%	31.6%	27.3%	21.7%	24.6%	26.8%	26.5%
Investing Activities Capital Expenditures	15.5%	13.6%	11.5%	9.5%	10.0%	12.5%	13.0%	12.7%	11.5%	13.9%
Investing Activities Business Acquisitions	1.2%	1.0%	2.9%	0.3%	0.3%	0.2%	0.8%	0.2%	0.3%	—
Investing Activities Other Investing Activities	0.3%	0.0%	0.0%	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	-16.8%	-14.1%	-14.2%	-9.3%	-9.8%	-11.0%	4.2%	36.1%	-11.6%	-16.8%
Financing Activities Proceeds From Debt	15.1%	14.7%	6.7%	9.6%	7.4%	10.3%	0.4%	0.1%	0.1%	8.9%
Financing Activities Repayment of Debt	6.7%	4.0%	5.1%	5.4%	4.8%	9.8%	5.6%	21.1%	5.1%	7.3%
Financing Activities Repurchase of Common Stock	13.5%	13.6%	12.0%	15.5%	15.0%	9.0%	9.4%	4.0%	0.1%	2.2%
Financing Activities Dividends Paid	8.3%	8.0%	7.6%	7.0%	7.1%	7.4%	6.7%	7.9%	7.9%	8.1%
Financing Activities Proceeds From Stock Issuance	0.1%	0.1%	0.1%	0.1%	0.2%	0.2%	0.3%	0.5%	1.1%	1.3%
Financing Activities Other Financing Activities	-0.2%	-1.3%	-0.2%	-0.3%	-1.0%	-0.8%	-11.5%	-2.7%	-0.8%	-0.7%
Financing Activities net Cash From Financing Activities	-13.4%	-13.2%	-16.4%	-9.3%	-24.6%	-12.3%	-31.9%	-33.7%	-14.6%	-6.3%
Cash Reconciliation Effect of Exchange Rate On Cash	0.4%	-0.7%	-0.0%	-0.2%	-0.2%	-0.2%	-0.3%	-0.4%	0.2%	0.2%
Cash Reconciliation net Change In Cash	0.6%	0.6%	-2.3%	7.8%	-3.0%	3.9%	-6.2%	26.9%	0.8%	3.6%
Cash Reconciliation Cash At Beginning of Period	14.9%	14.7%	14.2%	16.3%	9.2%	13.8%	9.6%	30.1%	5.4%	—
Cash Reconciliation Cash At End of Period	14.9%	14.7%	14.2%	16.3%	9.2%	13.8%	9.6%	30.1%	5.4%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	+26.3%	+26.2%	+24.4%	+16.1%	+16.2%	+12.2%	+10.4%	+35.4%	+21.5%	+21.3%
Net margin	+20.3%	+19.9%	+18.9%	+12.4%	+12.4%	+9.2%	+8.1%	+29.5%	+11.0%	+14.2%
FCF margin	+15.0%	+14.9%	+16.8%	+17.1%	+21.6%	+14.8%	+8.6%	+11.9%	+15.2%	+12.6%
Growth
Revenue CAGR (3y)	+0.6%	+2.3%	+6.4%	+5.7%	+27.6%	+33.9%	+38.9%	—	—	—
Returns
ROE	+18.0%	+17.2%	+15.6%	+10.4%	+8.7%	+5.3%	+4.7%	+8.5%	-64549.7%	+27.6%
ROA	+7.9%	+8.2%	+7.7%	+5.2%	+4.7%	+2.8%	+2.6%	+4.7%	+13533.1%	—
ROIC	+12.4%	+13.1%	+12.5%	+8.2%	+7.0%	+4.2%	+3.7%	+7.2%	—	—
Liquidity
Current ratio	0.88x	0.89x	0.80x	0.79x	0.74x	0.80x	0.85x	1.33x	—	—
Quick ratio	0.66x	0.65x	0.60x	0.61x	0.54x	0.58x	0.58x	0.68x	—	—
Leverage
D/E	1.23x	1.07x	1.00x	0.96x	0.82x	0.82x	0.71x	0.70x	-5.77x	—
Interest coverage	15.52x	15.56x	16.72x	19.38x	64.73x	28.89x	77.18x	25.98x	15.18x	11.83x
Efficiency
Asset turnover	0.39x	0.41x	0.41x	0.42x	0.38x	0.31x	0.33x	0.16x	1232.63x	—
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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Linde plc

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