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

Year-over-year change per cell; first column has no prior.

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	+4.2%	+4.0%	-14.2%	+92.6%	-24.8%	+39.0%	-39.5%	+5262561.7%	—	—
Short Term Investments	-100.0%	-43.3%	+1.6%	+922.2%	-21.7%	-42.5%	-47.4%	—	—	—
Accounts Receivable	+7.4%	-2.0%	+3.5%	+1.3%	+8.0%	-3.6%	+0.6%	—	—	—
Inventory	+5.6%	-8.0%	+6.9%	+14.1%	+0.2%	+1.9%	+2.8%	—	—	—
Prepaid Expenses	+69.1%	-0.7%	-2.3%	+13.3%	+2.1%	+0.0%	+40.6%	+3919.9%	—	—
Other Current Assets	-22.5%	+36.4%	-2.4%	-2.1%	-12.8%	-2.5%	+5.8%	+11696.8%	—	—
Total Current Assets	+2.9%	+2.6%	-3.3%	+28.4%	-7.0%	+5.5%	-40.1%	—	—	—
Property,Plant and Equipment	+14.1%	+0.9%	+4.3%	-9.4%	-9.4%	-1.2%	-2.2%	+151.3%	—	—
Goodwill	+7.7%	-3.0%	+3.6%	-4.5%	-4.1%	+4.4%	+0.5%	+731.2%	—	—
Intangible Assets	+4.8%	-8.6%	-0.2%	-10.0%	-14.7%	+0.3%	-0.5%	+676.6%	—	—
Other Noncurrent Assets	+12.8%	+31.8%	-7.1%	+24.8%	-7.6%	+6.7%	+37.7%	—	—	—
Total Assets	+8.3%	-0.8%	+1.4%	-2.4%	-7.5%	+1.9%	-7.3%	+1013376.3%	—	—
Liabilities
Accounts Payable	+12.1%	-17.0%	+0.8%	-14.5%	+13.2%	-5.2%	+1.5%	—	—	—
Accrued Liabilities	-100.0%	-11.6%	-2.5%	+22.8%	+1.8%	+13.6%	-9.1%	+72066.9%	—	—
Deferred Revenue	+3.1%	-37.2%	-38.1%	+4.5%	+66.2%	+0.6%	+13.7%	—	—	—
Current Portion of Long Term Debt	-12.7%	+62.9%	-21.0%	+37.5%	-64.2%	+87.7%	+16.6%	—	—	—
Other Current Liabilities	+6.2%	-5.5%	+1.8%	+4.7%	-10.0%	+23.7%	-6.8%	—	—	—
Total Current Liabilities	+4.5%	-7.5%	-4.6%	+20.8%	-0.7%	+13.0%	-6.1%	—	—	—
Long Term Debt	+34.8%	+14.5%	+9.8%	+7.6%	-6.7%	+13.6%	-13.0%	—	—	—
Deferred Revenue Noncurrent	+16.9%	+4.7%	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	-100.0%	-1.6%	-2.3%	-5.7%	-6.9%	-2.7%	-7.3%	—	—	—
Other Noncurrent Liabilities	+8.5%	+5.5%	+36.1%	-33.3%	-24.1%	+12.9%	+42.3%	—	—	—
Total Liabilities	+15.8%	+2.4%	+3.8%	+5.8%	-6.4%	+10.5%	-3.6%	—	—	—
Equity
Common Stock	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+3627.6%	—	—
Additional Paid In Capital	-0.4%	-0.5%	-0.5%	-0.4%	-0.1%	+0.0%	+0.1%	+149666280.9%	-99.9%	—
Retained Earnings	+31.5%	+42.8%	-56.9%	+9.8%	+8.9%	+2.0%	+1.9%	+878066.4%	—	—
Treasury Stock	+59.4%	+131.5%	-38.9%	-47.7%	+82.5%	+70.3%	+401.7%	+62800.0%	-99.6%	—
Accumulated Other Comprehensive Income	+9.6%	-18.8%	-0.4%	-14.5%	-7.6%	+2.6%	-8.0%	-10404308.3%	—	—
Noncontrolling Interest	+7.2%	+1.5%	+1.2%	-3.4%	-38.1%	-8.0%	-55.4%	+49754.5%	—	—
Total Stockholders Equity	+0.4%	-4.1%	-0.8%	-9.1%	-6.9%	-3.6%	-4.9%	+2670914.7%	-100.0%	—
Total Liabilitiesand Equity	+8.3%	-0.8%	+1.4%	-2.4%	-7.5%	+1.9%	-7.3%	+1013376.3%	—	—

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	+3.0%	+0.5%	-1.5%	+8.3%	+13.0%	-3.5%	+90.3%	+30.6%	+7.8%	—
Expenses Research and Development	-2.0%	+2.7%	+2.1%	+0.0%	-5.9%	-17.4%	+62.8%	+21.5%	+1.1%	—
Expenses Selling,General and Administrative	+2.9%	+1.3%	+6.1%	-2.6%	-0.1%	-7.6%	+112.2%	+35.0%	+5.4%	—
Expenses Depreciation and Amortization	-0.4%	-0.9%	-9.2%	-9.3%	+0.2%	-1.0%	+155.5%	+54.6%	+5.5%	—
Expenses Share Based Compensation	+2.5%	+13.5%	+31.8%	-16.4%	-3.8%	+40.0%	+53.2%	+5.1%	+51.3%	—
Expenses Restructuring and Asset Impairment	+88.3%	+262.5%	-96.1%	+276.9%	-46.0%	-10.8%	+83.5%	+494.2%	—	—
Expenses Operating Expenses	+2.6%	+6.7%	+0.0%	-10.4%	-7.0%	—	—	—	—	—
Other Income Expense Operating Income	+3.3%	+7.6%	+49.5%	+7.7%	+50.0%	+13.3%	-44.1%	+114.7%	+8.8%	—
Other Income Expense Interest Income	-8.3%	+15.7%	+68.4%	+192.5%	-27.3%	-50.9%	+40.0%	+95.1%	—	—
Other Income Expense Interest Expense	+3.6%	+15.6%	+73.3%	+259.7%	-33.0%	+202.6%	-81.2%	+25.5%	-15.3%	—
Other Income Expense Other Income/expense	-131.4%	+551.2%	+33.9%	-138.5%	+57.4%	-189.7%	+277.8%	+350.0%	-82.6%	—
Other Income Expense Income Before Tax	+3.8%	+7.3%	+44.1%	+8.7%	+50.7%	+15.6%	-42.0%	+120.8%	+11.7%	—
Income Tax Income Tax Expense	-0.6%	+10.4%	+26.5%	+13.6%	+49.0%	+10.1%	-5.9%	-20.4%	+86.2%	—
net Income net Income	+5.1%	+5.9%	+49.5%	+8.4%	+53.0%	+9.5%	-47.8%	+251.3%	-16.9%	—
net Income Comprehensive Income	+38.0%	-11.3%	+81.0%	-1.6%	+32.1%	+36.2%	-52.1%	+130.0%	+16.9%	—
Earnings Per Share Basic Eps	+7.1%	+8.0%	+53.0%	+12.2%	+55.8%	+12.6%	-68.2%	+204.1%	-17.0%	—
Earnings Per Share Diluted Eps	+7.3%	+8.2%	+53.0%	+12.3%	+55.6%	+12.4%	-68.0%	+203.5%	-17.1%	—
Earnings Per Share Weighted Average Shares Basic	-1.9%	-1.9%	-2.3%	-3.3%	-1.9%	-2.7%	+63.8%	+15.4%	+0.2%	—
Earnings Per Share Weighted Average Shares Diluted	-2.1%	-2.1%	-2.3%	-3.4%	-1.7%	-2.6%	+63.2%	+15.6%	+0.5%	—

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	+5.1%	+5.9%	+49.5%	+8.4%	+53.0%	+9.5%	-47.8%	+251.3%	-16.9%	—
Operating Activities Depreciation and Amortization	-0.4%	-0.9%	-9.2%	-9.3%	+0.2%	-1.0%	+155.5%	+54.6%	+5.5%	—
Operating Activities Stock Based Compensation	+2.5%	+13.5%	+31.8%	-16.4%	-3.8%	+40.0%	+53.2%	+5.1%	+51.3%	—
Operating Activities Deferred Income Taxes	-227.5%	-69.0%	+78.1%	-50.8%	+31.0%	-21.5%	-62.9%	-6300.0%	+123.1%	—
Operating Activities Changes In Operating Assets and Liabilities	-87.4%	+8.2%	-84.1%	+53.0%	+467.3%	-326.0%	-14.1%	-52.8%	+350.0%	—
Operating Activities net Cash From Operating Activities	+9.8%	+1.3%	+5.0%	-8.9%	+30.9%	+21.4%	+67.5%	+20.2%	+9.0%	—
Investing Activities Capital Expenditures	+17.0%	+18.7%	+19.4%	+2.8%	-9.2%	-7.7%	+95.5%	+43.6%	-10.5%	—
Investing Activities Business Acquisitions	+30.0%	-66.7%	+766.4%	+25.0%	+29.4%	-69.8%	+800.0%	-24.2%	—	—
Investing Activities Other Investing Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	-23.2%	+0.6%	-51.2%	-2.7%	-0.7%	-351.1%	-77.8%	+508.1%	+25.8%	—
Financing Activities Proceeds From Debt	+6.3%	+121.4%	-31.8%	+40.6%	-18.3%	+2724.2%	+1137.5%	-27.3%	-98.8%	—
Financing Activities Repayment of Debt	+74.6%	-22.4%	-5.8%	+21.6%	-45.2%	+69.4%	-49.3%	+435.8%	-24.3%	—
Financing Activities Repurchase of Common Stock	+2.7%	+13.2%	-23.4%	+12.1%	+87.7%	-7.6%	+343.7%	+4891.7%	-94.7%	—
Financing Activities Dividends Paid	+5.9%	+7.0%	+5.9%	+7.1%	+7.9%	+7.2%	+62.2%	+29.4%	+5.3%	—
Financing Activities Proceeds From Stock Issuance	-25.8%	-6.1%	-8.3%	-28.0%	+6.4%	-34.7%	-6.5%	-35.8%	-13.7%	—
Financing Activities Other Financing Activities	+81.9%	-692.5%	+39.8%	+72.8%	-46.8%	+93.3%	-710.9%	-337.0%	-29.6%	—
Financing Activities net Cash From Financing Activities	-4.5%	+19.3%	-74.8%	+59.3%	-126.8%	+62.8%	-80.0%	-201.8%	-151.3%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+156.0%	-3242.9%	+90.5%	-21.3%	-38.6%	+42.9%	-28.3%	-372.7%	+29.4%	—
Cash Reconciliation net Change In Cash	+10.8%	+124.1%	-129.5%	+380.7%	-188.3%	+160.2%	-144.0%	+4186.0%	-75.3%	—
Cash Reconciliation Cash At Beginning of Period	+4.2%	+4.0%	-14.2%	+92.6%	-24.8%	+39.0%	-39.5%	+623.8%	—	—
Cash Reconciliation Cash At End of Period	+4.2%	+4.0%	-14.2%	+92.6%	-24.8%	+39.0%	-39.5%	+623.8%	—	—

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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