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Linde PLC - Stock Quote LIN

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Morningstar's Linde PLC Stock Analysis

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Economic Moat

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Resilient Business Model Positions Linde Well to Navigate Macroeconomic Uncertainty

Business Strategy and Outlook

| Krzysztof Smalec, CFA |

Linde is the largest industrial gas producer in the world and benefits from operating in an industry with a very favorable structure. Despite selling industrial gases, which are essentially commodities, industrial gas companies have consistently delivered lucrative returns thanks to their economic moats. Industrial gases typically account for a relatively small fraction of customers’ costs but are a vital input to ensure uninterrupted production. As such, customers are often willing to pay a premium and sign long-term contracts to ensure their businesses are running smoothly. Long-term contracts and high switching costs contribute to industrial gas producers' moats, helping them generate a relatively predictable cash flow stream and lucrative returns.

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Linde PLC's Company Profile

Business Description

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 $31 billion in revenue and $5 billion in GAAP operating profit in 2021.

Contact
10 Priestly Road, The Priestley Centre
Guilford, Surrey, GU2 7XY, United Kingdom
T +44 1483242200
Sector Basic Materials
Industry Specialty Chemicals
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 72,507

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