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LIN

Linde plc Ordinary Shares

US$465.89-1.58% (-US$7.48)
Day's range
US$474.55 – US$480.56
Day's volume
US$1.2bn
52-week range
US$385.58 – US$544.85

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LIN in numbers

Market cap
US$218.8bn
P/E
29.65
P/B
5.50
Dividend yield (12m)
1.35%
Net debt/EBITDA
2.09

The 12-month dividend yield of LIN is 1.35%, above its 5-year average of 1.33%.

LIN price history

01/10/202501/10/2026
Compare with

LIN risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-0.11%+30.65%+70.74%
Volatility (annualised)22.18%17.60%19.73%
Largest drawdown-13.62%-13.94%-21.26%
Positive months6/1221/3634/60

How much did investing in LIN return?

US$1,000.00 invested on 01/10/2021 would be worth US$1,561.74 today.

Value today in LIN
US$1,561.74
Return over the period
+56.17%
Return per year
+9.33%
In the S&P 500
US$1,658.99

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

LIN fundamentals

Valuation

  • P/E
    29.65
  • P/B
    5.50
  • EV/EBITDA
    18.67
  • EV/EBIT
    26.28
  • EV/Revenue
    6.95
  • P/EBIT
    23.33
  • P/S
    6.17
  • P/OCF
    20.86
  • P/FCF
    43.98
  • Earnings yield
    3.81%
  • PEG ratio
    —
  • Earnings per share
    US$15.71
  • Book value per share
    US$84.78

Debt

  • Net debt
    US$27.6bn
  • Net debt/EBITDA
    2.09
  • Net debt/Equity
    0.71
  • Debt/Equity
    0.83
  • Current ratio
    0.88
  • Quick ratio
    0.75
  • Cash ratio
    0.30

Efficiency

  • Gross margin
    —
  • EBITDA margin
    37.25%
  • Operating margin
    26.45%
  • Net margin
    20.43%
  • Asset turnover
    0.40

Profitability

  • ROE
    18.54%
  • ROA
    8.20%
  • ROIC
    10.92%
  • Payout
    40.09%

Growth

  • Revenue CAGR (5 years)
    4.13%
  • Earnings CAGR (5 years)
    17.09%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is LIN's fair price?

Two classic value formulas, with today's numbers. The current price is US$465.89.

Graham's fair price
US$173.13
62.84% below the price

√(22.50 × US$15.71 × US$84.78)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$85.27
81.70% below the price

US$5.12 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

LIN indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E28.6430.1631.9138.7145.9755.0949.6619.41
P/B5.175.204.984.013.992.912.311.65
EV/EBITDA17.6417.6218.3318.4819.5019.1216.3213.45
Dividend yield1.41%1.33%1.24%1.43%1.22%1.46%1.64%2.11%
Earnings per shareUS$14.89US$13.88US$12.87US$8.43US$7.54US$4.78US$4.29US$8.04
Book value per shareUS$82.53US$80.55US$82.48US$81.33US$86.73US$90.50US$92.08US$94.69
ROE18.04%17.23%15.61%10.36%8.69%5.29%4.66%8.49%
ROIC10.76%11.25%10.53%7.05%6.73%4.05%3.62%7.12%
EBITDA margin37.33%37.62%36.04%28.69%31.24%29.17%26.95%47.70%
Net margin20.30%19.89%18.87%12.43%12.42%9.18%8.09%29.53%
Net debt/EBITDA2.061.671.621.711.211.781.411.43

LIN financial statements

Line202520242023202220212020
Net revenueUS$34bnUS$33bnUS$32.9bnUS$33.4bnUS$30.8bnUS$27.2bn
Cost of sales——————
Gross profit——————
EBITDAUS$12.7bnUS$12.4bnUS$11.8bnUS$9.6bnUS$9.6bnUS$7.9bn
EBITUS$8.9bnUS$8.6bnUS$8bnUS$5.4bnUS$5bnUS$3.3bn
Net finance result——————
Profit before taxUS$8.9bnUS$8.6bnUS$8bnUS$5.5bnUS$5.1bnUS$3.4bn
Income tax-US$2bn-US$2bn-US$1.8bn-US$1.4bn-US$1.3bn-US$847m
Net incomeUS$6.9bnUS$6.6bnUS$6.2bnUS$4.1bnUS$3.8bnUS$2.5bn

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does LIN pay dividends?

Dividend yield per year

  • 2.04%2017
  • 2.11%2018
  • 1.64%2019
  • 1.46%2020
  • 1.22%2021
  • 1.43%2022
  • 1.24%2023
  • 1.33%2024
  • 1.41%2025
  • 1.01%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend02/09/202617/09/2026US$1.60
Dividend03/06/202618/06/2026US$1.60
Dividend10/03/202626/03/2026US$1.60
Dividend02/12/202517/12/2025US$1.50
Dividend03/09/202518/09/2025US$1.50
Dividend03/06/202518/06/2025US$1.50
Dividend12/03/202527/03/2025US$1.50
Dividend02/12/202417/12/2024US$1.39
Dividend03/09/202418/09/2024US$1.39
Dividend03/06/202418/06/2024US$1.39
Dividend12/03/202428/03/2024US$1.39
Dividend30/11/202318/12/2023US$1.28
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend31/08/202319/09/2023US$1.28
Dividend31/05/202316/06/2023US$1.28
Dividend10/03/202328/03/2023US$1.28
Dividend30/11/202216/12/2022US$1.17
Dividend31/08/202216/09/2022US$1.17
Dividend01/06/202217/06/2022US$1.17
Dividend09/03/202225/03/2022US$1.17
Dividend01/12/202117/12/2021US$1.06
Dividend01/09/202117/09/2021US$1.06
Dividend01/06/202117/06/2021US$1.06
Dividend03/03/202122/03/2021US$1.06
Dividend01/12/202017/12/2020US$0.96
Dividend01/09/202018/09/2020US$0.96
Dividend01/06/202017/06/2020US$0.96
Dividend04/03/202020/03/2020US$0.96
Dividend29/11/201917/12/2019US$0.88
Dividend29/08/201917/09/2019US$0.88
Dividend30/05/201917/06/2019US$0.88
Dividend06/03/201922/03/2019US$0.88
Dividend14/12/201827/12/2018US$0.83
Dividend02/08/201815/08/2018US$0.83
Dividend05/06/201815/06/2018US$0.83
Dividend05/03/201815/03/2018US$0.83
Dividend05/12/201715/12/2017US$0.79
Dividend06/09/201715/09/2017US$0.79
Dividend02/06/201715/06/2017US$0.79
Dividend02/03/201715/03/2017US$0.79
Dividend02/12/201615/12/2016US$0.75

About Linde

Sector
Manufacturing

Questions about LIN

How much is LIN today?

LIN is at US$465.89 (-1.58% on the day), last traded on 01/10/2026.

How much did LIN pay in dividends in 2025?

LIN paid US$6.00 per share in 2025, a dividend yield of 1.41%.

What are the P/E and P/B of LIN?

LIN trades at a P/E of 29.65 and a P/B of 5.50.

How much did LIN return in 12 months?

LIN returned -0.11% in 12 months, with annualised volatility of 22.18% and a largest drawdown of -13.62%.