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THE INDEPENDENT RESEARCH DESK / 28 Sep 2026

Research desk / Research profile / LIN

Inside the research

Linde plc

LIN Research profile · latest available data

Price overview

$469.89

▲ +1.75 (+0.4%)

52w hi$544.85
52w lo$385.58
Vol1.62M
As of25 Sep 2026

The Verdict

Hold

Our score -0.42

Short-0.45
Medium-0.49
Long-0.24

computed 2026-09-27

Key fundamentals

Linde plc

Basic Materials · Specialty Chemicals

Market cap$216.61B
Enterprise value$241.27B
Trailing P/E30.30x
Forward P/E24.02x
EV / EBITDA17.46x
P / S (ttm)6.11x
Profit margin20.4%
Return on equity18.4%
Revenue growth+9.3%
Earnings growth+11.3%
Debt / equity68.95

Layer Breakdown

LayerRawContribution
Fundamental+0.21
Sector-0.02
Technical-0.38
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-09-27

Business overview

Linde plc operates as an industrial gas company worldwide. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases, and acetylene. It also engages in the design and construction of turnkey process plants for third-party customers, as well as for its gas businesses, including air separation, hydrogen, synthesis, olefin, and natural gas plants. The company serves the healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics industries. It operates in the United States, Brazil, Mexico, Canada, Germany, the United Kingdom, Eastern Europe, China, Australia, South Korea, and India. Linde plc was founded in 1879 and is based in Woking, the United Kingdom.

United Kingdom · www.linde.com

Risk Metrics

Beta vs SPX0.46
Corr SPX0.40
Annual vol18.7%
Annual ret+1.5%
Sharpe0.08
Max DD-20.0%

Window: 504 trading days (504 obs)

Analyst Coverage

Mean PT$539.85
High / Low$600.00 / $381.00
Median$550.00
Analysts25
Strong Buy4
Buy17
Hold5
Sell1
Strong Sell0

Recent rating actions

2026-05-05RBC Capital→ Outperform
2026-05-04JP Morgan→ Overweight
2026-05-04Citigroup→ Buy
2026-04-24RBC Capital→ Outperform
2026-04-17Seaport Global→ Buy
2026-04-13Citigroup→ Buy

Officers & Board

FounderCarl von Linde current

Material Events

DateEvent8-K
2026-07-31Earnings Release, Exhibitsread
2026-07-30Shareholder Vote, Exhibitsread
2026-05-13Other Material Event, Exhibitsread
2026-05-01Earnings Release, Exhibitsread
2026-02-05Earnings Release, Exhibitsread
2025-12-03Material Agreement, Material Obligation…read
2025-11-20Other Material Event, Exhibitsread
2025-10-31Earnings Release, Exhibitsread
2025-09-29Officer / Director Change, Exhibitsread
2025-08-07Officer / Director Change, Exhibitsread
2025-08-01Earnings Release, Exhibitsread
2025-08-01Shareholder Vote, Exhibitsread

Insider Trades

DateInsiderRoleActionSharesValue
2026-06-08Innocenzi StefanosSVP, Linde EngineeringWithheld for tax2.06K$1.05M
2026-06-08Innocenzi StefanosSVP, Linde EngineeringOption exercise4.04K—
2026-03-10Durbin SeanEVP, Chief Operating OffiWithheld for tax4.64K$2.21M
2026-03-10Bichara GuillermoExec VP & Chief Legal OffSell4.36K$2.09M
2026-03-10Durbin SeanEVP, Chief Operating OffiOption exercise7.04K$1.22M
2026-03-10Durbin SeanEVP, Chief Operating OffiSell4.11K$1.97M
2026-03-10Durbin SeanEVP, Chief Operating OffiSell2.41K$1.15M
2026-03-09White Matthew JChief Financial OfficerWithheld for tax3.77K$1.83M
2026-03-09Pfann OliverSenior Vice President, EMOption exercise642—
2026-03-09White Matthew JChief Financial OfficerWithheld for tax1.33K$644.70K

Flow & Concentration

Insider 180d net$0
Insider buys / sells0 / 0
Insider biasNeutral
13F holders8
Top-5 share98.8%
HHI4,416 (concentrated)

Top Holders

HolderValueShares
State Street Corp$10.56B20.34M
Fidelity / FMR LLC$4.32B8.32M
Capital Research / Capital World$1.65B3.18M
Citadel Advisors$376.80M726.09K
AQR Capital Management$251.49M487.82K
Millennium Management$198.03M381.60K
T. Rowe Price Group$6.14M11.83M
Renaissance Technologies$2.65M5.10K

As of 2026-06-30

Connections

Subsidiarys: Praxair, BOC

Customers: Contents Linde plc

Dividends

Yield (TTM)0.66%
$ / share (TTM)$3.10
5y CAGR+9.3%

Annual dividend per share

2021$4.24
2022$4.68
2023$5.10
2024$5.56
2025$6.00
2026$1.60

Federal Contracts

AmountAgencyDescription
$66.03MDepartment of DefenseIGF::OT::IGF P714 UNACCOMPANIED HOUSING AT NAVAL STATION GREAT LAKES, ILLINOIS.
$54.79MDepartment of DefenseDESIGN/BID/BUILD FOR THE CONSTRUCTION OF TWO (2) NEW 48,000SF, 4-STORY, COLLECTI
$38.18MDepartment of the InteriorOZAR 210461-225116 -REHABILITATE CABINS, LODGE AND LANDSCAPE AT BIG SPRING - REH
$29.04MDepartment of DefenseDESIGN / BUILD FULL FACILITY RESTORATION OF AN ARMY RESERVE CENTER LOCATED IN CH
$28.32MDepartment of DefenseCONSTRUCTION OF A COLLECTIVE TRAINING ENLISTED BARRACKS AT FORT MCCOY, WISCONSIN
$24.48MNational Aeronautics and Space AdministrationHELIUM LIQUEFIERS AND SPARE PART PACKAGES.
$14.21MDepartment of DefenseRENOVATION B223 FORT RILEY, KS
$14.18MDepartment of DefenseBLDG 404 RENOVATION - CONSTRUCTION. THIS CONTRACT IS TO PERFORM RENOVATIONS OF

SEC Filings

DateFormDoc
2026-07-318-Kview
2026-07-3110-Qview
2026-07-308-Kview
2026-07-024view
2026-07-024view
2026-06-1611-Kview
2026-06-1611-Kview
2026-06-104view
2026-05-213view
2026-05-184view
2026-05-138-Kview
2026-05-0110-Qview
2026-05-018-Kview
2026-04-29DEFA14Aview
2026-04-29ARSview

The Long Run

FY 2018–2025 · 8 years

LineLatestCAGRTrend
Revenue$33.99B+43.4%
Operating income$8.92B+44.8%
Net income$6.57B+46.1%
Cash from ops$10.35B+5.3%

Indices

NASDAQ-100S&P 500

Recent Sessions

DateOpenHighLowCloseVol
Sep 25$465.75$470.44$465.75$469.891.62M
Sep 24$470.00$472.27$466.40$468.142.08M
Sep 23$463.83$472.59$463.01$469.721.93M
Sep 22$458.06$465.95$455.27$464.911.93M
Sep 21$460.87$461.43$456.41$457.502.02M

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