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Linde PLC LIN

Morningstar Rating
$455.60 +6.39 (1.42%)
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Company Report

Linde Earnings: Continued Margin Expansion Despite Slowdown in Some End Markets

Narrow-moat Linde finished 2023 on a strong note, as its full-year revenue of $32.9 billion and adjusted EPS of $14.20 both beat our estimates of $32.8 billion and $14.09, respectively. After rolling our model forward one year, we've raised our fair value estimate to $398 from $393, which reflects our slightly more optimistic operating margin projections as well as time value of money.

Price vs Fair Value

LIN is trading within a range we consider fairly valued.
Price
$455.72
Fair Value
$377.00
Uncertainty
Medium
1-Star Price
$672.20
5-Star Price
$536.60
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

The Praxair-Linde merger positions Linde plc as the largest industrial gas company in the world, strengthening the company’s competitive positioning.

Bears

Cost inflation and energy price volatility could pressure short-term margins.

Is it the right time to buy, sell, or hold?
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News

Trading Information

Previous Close Price
$449.21
Day Range
$448.73456.66
52-Week Range
$324.11456.66
Bid/Ask
$425.00 / $500.00
Market Cap
$219.41 Bil
Volume/Avg
2.3 Mil / 1.8 Mil

Key Statistics

Price/Earnings (Normalized)
32.07
Price/Sales
6.83
Dividend Yield (Trailing)
1.12%
Dividend Yield (Forward)
1.22%
Total Yield
2.91%

Company Profile

Linde is the largest industrial gas supplier in the world, with operations in over 100 countries. The firm's main products are atmospheric gases (including oxygen, nitrogen, and argon) and process gases (including hydrogen, carbon dioxide, and helium), as well as equipment used in industrial gas production. Linde serves a wide variety of end markets, including chemicals, manufacturing, healthcare, and steelmaking. Linde generated approximately $33 billion in revenue in 2023.
Sector
Basic Materials
Industry
Specialty Chemicals
Stock Style Box
Large Core
Total Number of Employees
66,323

Competitors

Valuation

Metric
LIN
AI
APD
Price/Earnings (Normalized)
32.0730.6920.50
Price/Book Value
5.544.203.56
Price/Sales
6.833.304.27
Price/Cash Flow
22.9217.5614.88
Price/Earnings
LIN
AI
APD

Financial Strength

Metric
LIN
AI
APD
Quick Ratio
0.620.481.52
Current Ratio
0.800.791.81
Interest Coverage
19.8313.7616.38
Quick Ratio
LIN
AI
APD

Profitability

Metric
LIN
AI
APD
Return on Assets (Normalized)
8.80%6.56%8.41%
Return on Equity (Normalized)
17.60%13.88%18.26%
Return on Invested Capital (Normalized)
11.96%9.12%10.72%
Return on Assets
LIN
AI
APD
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