Linde (LIN) Stock Analysis

June 13, 2026

Here is a fundamental analysis of Linde (LIN), benchmarking its profitability, financial strength, dividend and valuation against its industry group peers.

Performance

Cumulative Growth

LIN

GSPC

Linde (LIN) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Linde (LIN) and S&P 500 (GSPC). Returns over one year are annualized.

Performance at a Glance

Linde (LIN) metric values compared with Materials industry-group medians
Metric	Current stock: LIN	Industry group median
1-Year Return	12.77%	41.31%

Risk

Drawdown

LIN

GSPC

Linde (LIN) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Risk at a Glance

Linde (LIN) metric values compared with Materials industry-group medians
Metric	Current stock: LIN	Industry group median
1-Year Volatility	17.27%	53.58%
Beta	0.71	0.95

Company Profile

Company profile fields for Linde (LIN)
Profile Item	LIN
Name	Linde plc
Country/Region	United Kingdom
GICS Sector	Materials
GICS Industry Group	Materials
GICS Industry	Chemicals
GICS Sub-Industry	Industrial Gases
Market Capitalization	242.07 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	June 17, 1992
Security Type	Common Stock

Valuation

Price-to-Earnings Ratio (TTM)

Linde (LIN) trades at P/E ratio of 34.72, in the richer earnings-multiple quartile for its industry. That premium needs support from growth, durable earnings, or stronger business quality.

LIN

Materials industry group

34.72

Group distribution

Max: 60.17
LIN: 34.72
Q3: 33.90
Median: 22.02
Q1: 15.32
Min: 4.65

Largest peers

FCX: 36.20
LIN: 34.72
SCCO: 32.17
BHP: 22.59
RIO: 17.30
AEM: 15.31
NEM: 13.00

Where Linde (LIN) stands on P/E ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Price-to-Sales Ratio (TTM)

Linde (LIN) trades at 6.99 on P/S ratio, in the higher sales-valuation quartile. Investors are paying up for each dollar of revenue, so stronger margins, growth, or revenue quality need to carry that price.

LIN

Materials industry group

6.99

Group distribution

Max: 9.93
LIN: 6.99
Q3: 4.61
Median: 2.05
Q1: 0.79
Min: 0.00

Largest peers

SCCO: 10.88
LIN: 6.99
AEM: 6.01
NEM: 4.29
BHP: 4.27
FCX: 3.72
RIO: 2.97

Where Linde (LIN) stands on P/S ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Price-to-Book Ratio (MRQ)

Linde (LIN) trades at 6.28 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

LIN

Materials industry group

6.28

Group distribution

Max: 8.35
LIN: 6.28
Q3: 4.40
Median: 2.67
Q1: 1.45
Min: -0.48

Largest peers

SCCO: 13.43
LIN: 6.28
FCX: 5.04
BHP: 4.57
AEM: 3.10
NEM: 3.08
RIO: 2.75

Where Linde (LIN) stands on P/B ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Valuation at a Glance

Linde (LIN) metric values compared with Materials industry-group medians
Metric	Current stock: LIN	Industry group median
Price-to-Earnings Ratio (TTM)	34.72	22.02
Price-to-Sales Ratio (TTM)	6.99	2.05
Price-to-Book Ratio (MRQ)	6.28	2.67
Free Cash Flow Yield	1.94%	1.54%

Profitability

Return on Equity (TTM)

Linde (LIN) posts ROE of 18.23%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

LIN

Materials industry group

18.23%

Group distribution

Max: 51.93%
LIN: 18.23%
Q3: 17.55%
Median: 5.92%
Q1: -10.29%
Min: -50.42%

Largest peers

SCCO: 46.34%
NEM: 25.83%
BHP: 24.71%
AEM: 22.30%
LIN: 18.23%
RIO: 16.40%
FCX: 15.63%

Where Linde (LIN) stands on ROE within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Net Profit Margin (TTM)

Linde (LIN) keeps 20.44% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

LIN

Materials industry group

20.44%

Group distribution

Max: 35.99%
LIN: 20.44%
Q3: 14.87%
Median: 3.80%
Q1: 0.00%
Min: -21.87%

Largest peers

AEM: 39.46%
SCCO: 34.13%
NEM: 33.87%
LIN: 20.44%
BHP: 18.97%
RIO: 17.29%
FCX: 10.34%

Where Linde (LIN) stands on net margin within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Operating Profit Margin (TTM)

Linde (LIN) turns 28.47% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

LIN

Materials industry group

28.47%

Group distribution

Max: 66.92%
LIN: 28.47%
Q3: 27.27%
Median: 9.63%
Q1: 0.00%
Min: -32.85%

Largest peers

AEM: 62.82%
NEM: 61.38%
SCCO: 58.34%
BHP: 40.73%
FCX: 31.07%
LIN: 28.47%
RIO: 25.32%

Where Linde (LIN) stands on operating margin within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Profitability at a Glance

Linde (LIN) metric values compared with Materials industry-group medians
Metric	Current stock: LIN	Industry group median
Return on Equity (TTM)	18.23%	5.92%
Return on Assets (TTM)	7.24%	4.26%
Net Profit Margin (TTM)	20.44%	3.80%
Operating Profit Margin (TTM)	28.47%	9.63%
Gross Profit Margin (TTM)	48.77%	27.28%

Financial Strength

Current Ratio (MRQ)

Linde (LIN) has current ratio of 0.83, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

LIN

Materials industry group

0.83

Group distribution

Max: 6.31
Q3: 3.52
Median: 2.28
Q1: 1.43
LIN: 0.83
Min: 0.12

Largest peers

SCCO: 4.38
AEM: 3.15
NEM: 2.44
FCX: 2.39
BHP: 1.65
RIO: 1.45
LIN: 0.83

Where Linde (LIN) stands on current ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Debt-to-Equity Ratio (MRQ)

Linde (LIN) has debt-to-equity ratio of 0.66, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

LIN

Materials industry group

0.66

Group distribution

Max: 2.02
Q3: 0.92
LIN: 0.66
Median: 0.44
Q1: 0.14
Min: 0.00

Largest peers

LIN: 0.66
SCCO: 0.62
BHP: 0.53
RIO: 0.35
FCX: 0.33
NEM: 0.16
AEM: 0.01

Where Linde (LIN) stands on debt-to-equity ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength at a Glance

Linde (LIN) metric values compared with Materials industry-group medians
Metric	Current stock: LIN	Industry group median
Current Ratio (MRQ)	0.83	2.28
Debt-to-Equity Ratio (MRQ)	0.66	0.44
Net Debt / EBITDA	1.65	1.63

Dividends

Dividend Yield (TTM)

Linde (LIN) has dividend yield of 1.22%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

LIN

Materials industry group

1.22%

Group distribution

Max: 4.47%
Q3: 1.89%
LIN: 1.22%
Median: 0.58%
Q1: 0.00%
Min: 0.00%

Largest peers

RIO: 3.82%
BHP: 2.93%
SCCO: 2.11%
LIN: 1.22%
AEM: 1.11%
NEM: 1.04%
FCX: 0.88%

Where Linde (LIN) stands on dividend yield within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Linde (LIN) has payout ratio of 40.45%, above the industry’s usual payout band. A larger share of earnings is going to dividends, so the cushion narrows if profit weakens.

LIN

Materials industry group

40.45%

Group distribution

Max: 90.00%
LIN: 40.45%
Q3: 38.50%
Median: 8.90%
Q1: 0.00%
Min: 0.00%

Largest peers

RIO: 61.31%
SCCO: 56.33%
BHP: 54.64%
LIN: 40.45%
FCX: 31.75%
AEM: 15.54%
NEM: 13.10%

Where Linde (LIN) stands on payout ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Dividends at a Glance

Linde (LIN) metric values compared with Materials industry-group medians
Metric	Current stock: LIN	Industry group median
Dividend Yield (TTM)	1.22%	0.58%
Dividend Payout Ratio (TTM)	40.45%	8.90%