Linde plc (LIN) Stock

Linde plc (LIN) is a Materials stock trading at $490.15 (as of 2026-08-24), with a market capitalization of $225.95B and a trailing P/E of 31.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. The company also designs and constructs turnkey process plants for third-party customers, as well as for the gas businesses in various locations, such as olefin, natural gas, air separation, hydrogen, and synthesis gas plants. It serves a range of industries, including healthcare, energy, manufacturing, food, beverage carbonation, fiber-optics, steel making, aerospace, chemicals, and water treatment. The company was founded in 1879 and is based in Woking, the United Kingdom.

Understand Linde plc: how it makes money

Linde supplies industrial gases (like oxygen, nitrogen, argon, helium, hydrogen, and specialty and electronic gases) and also designs and builds turnkey process plants; it makes money from selling these gases and providing process plant engineering and construction services to customers.

Linde’s profit model combines selling a wide portfolio of industrial and specialty gases with project-based revenue from designing and constructing turnkey process plants for third parties and for customers across multiple gas-related plant types.

Revenue by segment (latest quarter)
Sales$7.9B

Business quality (Solid): Clear business mix (gases plus turnkey engineering), but the provided segment breakdown is limited, so it is harder to see how much profit power comes from gas sales versus engineering work.

Valuation: At 34× earnings, LIN trades 11% below the Chemicals average (38×). Note: one-time items can distort reported P/E.

Bull case

  • Wide product scope across gas types: The company offers atmospheric gases, process gases, rare gases, electronic gases, specialty gases, and acetylene, which supports serving many industrial needs.
  • Dual engine, gases plus turnkey plants: Besides supplying gases, Linde designs and constructs turnkey process plants for third-party customers and for multiple kinds of gas-related plants.

Bear case

  • Project execution can be a swing factor: Turnkey process plant design and construction can introduce execution risk because this activity depends on delivering complex projects for customers.
  • Demand depends on customers in multiple industries: Linde serves a range of industries across many regions, which can make its sales sensitive to changes in those customer industries.
Valuation — source: SEC EDGAR (first-party)
Price$490.15
Market Cap$225.95B
P/E Ratio31.2
EV / EBITDA18.7
Price / Book5.56
Price / Sales6.37
FCF Yield2.2%
DCF Value (model)$163.23
DCF Upside vs Price-66.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$33.99B
Net Margin20.3%
Revenue Growth (YoY)9.3%
EPS Growth (YoY)11.2%
FCF Growth (YoY)-12.7%
Financial Health — source: SEC EDGAR
Altman Z-Score3.87 (safe)
Valuation vs Sector & Industry
Stock P/E31.2
Sector P/E (Materials)25.9
Industry P/E (Chemicals)31.2
vs Sector20.4%
vs Industry0.0%
Company
SectorMaterials
IndustryChemicals
CEOSanjiv Lamba
Employees65,069
CountryGB
IPO Date1992-06-17

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LIN earnings history · LIN institutional & insider holders · LIN KPIs & operating metrics · LIN financials · LIN investor presentations & press releases · LIN SEC filings · LIN peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.