LIN
LIN
Linde plc
$503.44
+1.01% 2026-10-19
MaterialsS&P 500
LINSPY
1W
+3.3%
1M
+9.3%
3M
-1.4%
6M
+1.7%
YTD
+19.2%
1Y
+13.2%
Grades vs sector
Momentum53rd pct in sectorC+
Momentum
53rd pct in sector
12-1 return: +15.0%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Growth51st pct in sectorC+
Growth
51st pct in sector
Revenue growth (YoY): +9.3%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Value12th pct in sectorD-
Value
12th pct in sector
Forward E/P: 3.9% · EBITDA/EV: 5.4%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Profitability83rd pct in sectorA-
Profitability
83rd pct in sector
Profit margin: +20.4% · Return on equity: +18.4%
Percentile within its GICS sector across the S&P 1500.
Percentile within its GICS sector across the S&P 1500.
Revisionsno data–
Revisions
no data
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
30-day change in analysts' current-year EPS estimate; graded across covered stocks.
Our models
Not held by any of our 3 live models right now.
Momentum Top 15
rank 296 of 499 · 12-1 momentum % 4.1
Quality Growthnot ranked (outside this model's universe or screens)
Momentum Blendnot in the current book
Key stats
Market cap$232.1B
P/E (trailing)32.5
P/E (forward)25.7
52-week range387.78 – 548.20
Revenue growth (YoY, latest qtr)+9.3%
Dividend yield1.28%
Analyst consensusBuy (27)
Mean price target$544.15 (+8%)
Valuation & fundamentals
Bottom line
Looks expensive
Model read-out from the numbers below, not advice. Score -3 (DCF counts double).
▼DCF (base case)below the price by 53%
▼Forward P/E vs sector25.7x vs median 12.7x
•Piotroski F-score4/9
▲Altman Z3.9 (safe)
•Net debt / EBITDA1.8x
•Analyst target+8% (27 analysts)
Discounted cash flow
CyclicalValued on average-cycle margins
Industrial Gases profits swing with the business cycle, so one year's cash flow can be far above or below normal. Instead of the last 12 months' free cash flow (5.0B, a 14% margin), the DCF and reverse DCF use the average free-cash-flow margin over FY2020–FY2025 (6 years: 16.7%) times current revenue = 5.9B. On trailing cash flow the base case would be $190; on mid-cycle cash flow it is $235. Glossary
Bear
$121
-76%
growth -0% · disc. 8.8% · term. 2.0%
Base
$235
-53%
growth 5% · disc. 7.8% · term. 2.5%
Bull
$416
-17%
growth 8% · disc. 6.8% · term. 3.0%
Starting cash flow is mid-cycle: 16.7% average margin × current revenue = 5.9B (last 12 months: 5.0B at a 14% margin). On trailing cash flow the base case would be $190.
Reverse DCFfor context, not a signal
A normal DCF guesses future cash flows and works out a price. A reverse DCF runs it backwards: it starts from today's price and asks how fast free cash flow would have to grow to justify it. It tells you what the market is assuming, not whether the stock is cheap or expensive, and it is not a buy or sell signal. Glossary
Today's price assumes free cash flow grows about 13% a year for 10 years.
Implied
+13%/yr
FCF, last 3 yrs
-4%/yr
FCF, last 5 yrs
+5%/yr
Revenue, last 3 yrs
+1%/yr
Revenue, last 5 yrs
+5%/yr
Same inputs as the DCF above: mid-cycle free cash flow 5.9B, 7.8% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–
Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.71 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.
Multiples vs Materials
P/E (trailing)
pricier
sector median 20.6× · 73rd pct
32.5×pricier
Forward P/E
pricier
sector median 12.7× · 91st pct
25.7×pricier
EV / EBITDA
pricier
sector median 11.1× · 89th pct
19.3×pricier
Price / sales
pricier
sector median 1.4× · 93rd pct
6.5×pricier
Price / book
pricier
sector median 2.3× · 96th pct
5.9×pricier
FCF yield
pricier
sector median 4.7% · 20th pct
2.1%pricier
Forward EPS $19.58 vs trailing $15.49 (+26% expected growth). Forward P/E uses analysts' next-12-month estimate.
Backlog (remaining performance obligations)
RPO
$64.0B
as of 2026-06-30
vs a year ago
+5%
YoY
× TTM revenue
1.81×
coverage
Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).
Quality & financial health
Gross margin
–
Operating margin
26.5%
FCF margin
14.0%
Net margin
20.4%
Return on equity
18.5%
Return on invested capital
11.7%
Net debt / EBITDA
1.8×
Current ratio
0.9×
Interest cover
37.4×
Cash conversion (OCF/NI)
1.4×
Piotroski F-score 4/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved
Altman Z-score 3.9 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.
Analysts
Mean target
$544
+8%
Analysts
27
Buy
Range
$400–$580
low – high
● price · ◆ mean target
Annual history
| FY | Revenue | Net income | Free cash flow |
|---|---|---|---|
| 2025 | $34.0B | $6.9B | $5.1B |
| 2024 | $33.0B | $6.6B | $4.9B |
| 2023 | $32.9B | $6.2B | $5.5B |
| 2022 | $33.4B | $4.1B | $5.7B |
| 2021 | $30.8B | $3.8B | $6.6B |
| 2020 | $27.2B | $2.5B | $4.0B |
From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +0.6%.
Earnings
Next report: 2026-10-29 · before open · EPS est 4.61
EstimateActual (beat)Actual (miss)
| Report | EPS est | Actual | Surprise |
|---|---|---|---|
| 2026-07-31 | 4.49 | 4.50 | +0.3% |
| 2026-05-01 | 4.27 | 4.33 | +1.4% |
| 2026-02-05 | 4.18 | 4.20 | +0.5% |
| 2025-10-31 | 4.18 | 4.21 | +0.8% |
| 2025-08-01 | 4.04 | 4.09 | +1.4% |
| 2025-05-01 | 3.92 | 3.95 | +0.7% |
| 2025-02-06 | 3.92 | 3.97 | +1.2% |
| 2024-10-31 | 3.91 | 3.94 | +0.9% |
Quarterly revenue
| Quarter | Revenue | YoY |
|---|---|---|
| 2026-06-30 | $9.3B | +9.3% |
| 2026-03-31 | $8.8B | – |
| 2025-12-31 | $8.8B | – |
| 2025-09-30 | $8.6B | – |
| 2025-06-30 | $8.5B | – |
Analyst actions
RBC Capital
PT $549
2026-10-15 · main
Outperform → OutperformPT $549
Barclays
PT $577
2026-10-13 · init
→ OverweightPT $577
Citigroup
PT $560
2026-10-07 · main
Buy → BuyPT $560
UBS
PT $574
2026-10-05 · main
Buy → BuyPT $574
Argus Research
PT $538
2026-09-28 · main
Buy → BuyPT $538
Keybanc
PT $542
2026-09-11 · init
→ OverweightPT $542
Recent dividends
2026-09-03: $1.600 · 2026-06-04: $1.600 · 2026-03-11: $1.600 · 2025-12-03: $1.500 · 2025-09-04: $1.500 · 2025-06-04: $1.500 · 2025-03-13: $1.500 · 2024-12-03: $1.390
Insider trades
Reynolds Paula Rosput
$47.9K
Director · 2026-08-18
BUY$47.9K
None
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None · None
SELL–
None
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None · None
SELL–
News
Bernstein Adjusts Linde Price Target to $562 From $563
MT Newswires · 8h ago
Is Bloom Energy Stock Priced Right Against Its Peers?
Trefis · Oct 15
FSRA issues notice of proposal against Renkai Lin and ZK Financial Inc.
CNW Group · Oct 15
5 Boring Dividend Stocks That Could Keep Growing While Customers Pay More
24/7 Wall St. · Oct 15
RBC Trims Price Target on Linde to $549 From $553, Keeps Outperform Rating
MT Newswires · Oct 15
Linde’s Quarterly Earnings Preview: What You Need to Know
Barchart · Oct 14
Linde (LIN) Stock Looks Fully Valued On Current Earnings
Simply Wall St. · Oct 14
What Are Bloom Energy Investors Betting On?
Trefis · Oct 14
Stats refreshed 2026-10-19 19:02:39 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now
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