LIN vs. PAAS: Linde vs. Pan American Silver Stock Comparison

November 11, 2026

How do Linde (LIN) and Pan American Silver (PAAS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Linde (LIN) and Pan American Silver (PAAS) both fall under the Materials industry group, but LIN is classified in Chemicals while PAAS is classified in Metals & Mining.

Company profile comparison for Linde (LIN) and Pan American Silver (PAAS)
Profile Item	LIN	PAAS
Name	Linde plc	Pan American Silver Corp.
Country/Region	United Kingdom	Canada
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Metals & Mining
GICS Sub-Industry	Industrial Gases	Silver
Market Capitalization	236.54 billion USD	16.98 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	June 17, 1992	June 12, 1995
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

LIN

PAAS

GSPC

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

Trailing Returns

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Trailing total returns for Linde (LIN) and Pan American Silver (PAAS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Linde (LIN) and Pan American Silver (PAAS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Linde (LIN) and Pan American Silver (PAAS)
Metric	LIN	PAAS
Total Return (1Y)	25.64%	22.43%
Total Return (3Y, Annualized)	11.48%	47.84%
Total Return (5Y, Annualized)	10.50%	11.59%

Risk Profile

Drawdown History

LIN

PAAS

GSPC

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

Return Distribution

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Distribution of monthly total returns for Linde (LIN) and Pan American Silver (PAAS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Linde (LIN) and Pan American Silver (PAAS)
Metric	LIN	PAAS
Volatility (1Y, Annualized)	19.00%	58.13%
Beta (5Y)	0.67	0.72
Max Drawdown (5Y)	-22.82%	-57.39%
Avg. Volume (3M)	2.05M	4.31M

Risk-Adjusted Performance

Risk-Return Positioning

LIN and PAAS are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Linde (LIN) and Pan American Silver (PAAS)
Metric	LIN	PAAS
Sharpe Ratio (1Y)	1.12	0.31
Sortino Ratio (1Y)	1.65	0.45

Profitability

ROE (TTM)

Pan American Silver (PAAS) at 22.39% sits in the top ROE quartile, while Linde (LIN) at 17.72% is closer to the peer norm — stronger capital efficiency for PAAS.

LIN

Materials industry group

17.72%

Max: 52.88%
Q3: 19.49%
LIN: 17.72%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

PAAS

Materials industry group

22.39%

Max: 52.88%
PAAS: 22.39%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Linde (LIN) at 19.34% and Pan American Silver (PAAS) at 35.16% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

LIN

Materials industry group

19.34%

Max: 38.66%
LIN: 19.34%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

PAAS

Materials industry group

35.16%

Max: 38.66%
PAAS: 35.16%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Pan American Silver (PAAS) at 34.29% operates in the top operating margin quartile, ahead of Linde (LIN) at 27.97%, which runs around its industry’s norm.

LIN

Materials industry group

27.97%

Max: 66.70%
Q3: 28.92%
LIN: 27.97%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

PAAS

Materials industry group

34.29%

Max: 66.70%
PAAS: 34.29%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Linde (LIN) and Pan American Silver (PAAS)
Metric	LIN	PAAS
ROE (TTM)	17.72%	22.39%
ROA (TTM)	7.17%	11.27%
Net Margin (TTM)	19.34%	35.16%
Operating Margin (TTM)	27.97%	34.29%
Gross Margin (TTM)	47.86%	55.17%

Growth

Revenue Growth

Both Linde (LIN) at 2.97% and Pan American Silver (PAAS) at 28.38% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Pan American Silver (PAAS) at 725.81% clears its industry range for EPS growth, a much stronger earnings trajectory than Linde (LIN) at 7.27%, which is closer to a typical peer reading.

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Linde (LIN) and Pan American Silver (PAAS)
Metric	LIN	PAAS
Revenue Growth (YoY)	2.97%	28.38%
Revenue Growth (3Y CAGR)	0.62%	34.28%
EPS Growth (YoY)	7.27%	725.81%
EPS Growth (3Y CAGR)	21.08%	--

Financial Strength

Current Ratio (MRQ)

Pan American Silver (PAAS) at 2.72 keeps current ratio within its industry’s typical mid-range, while Linde (LIN) at 0.86 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for LIN.

LIN

Materials industry group

0.86

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
LIN: 0.86
Min: 0.16

PAAS

Materials industry group

2.72

Max: 5.96
Q3: 3.30
PAAS: 2.72
Median: 2.24
Q1: 1.45
Min: 0.16

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Pan American Silver (PAAS) at 0.11 keeps leverage in the lower industry quartile, while Linde (LIN) at 0.65 runs a more typical debt-to-equity mix.

LIN

Materials industry group

0.65

Max: 1.98
Q3: 0.89
LIN: 0.65
Median: 0.47
Q1: 0.13
Min: 0.00

PAAS

Materials industry group

0.11

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
PAAS: 0.11
Min: 0.00

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Linde (LIN) and Pan American Silver (PAAS)
Metric	LIN	PAAS
Current Ratio (MRQ)	0.86	2.72
Debt / Equity (MRQ)	0.65	0.11
Net Debt / EBITDA	1.65	-0.39

Dividends

Dividend Yield (TTM)

Both Linde (LIN) at 1.21% and Pan American Silver (PAAS) at 1.69% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

LIN

Materials industry group

1.21%

Max: 4.52%
Q3: 1.85%
LIN: 1.21%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

PAAS

Materials industry group

1.69%

Max: 4.52%
Q3: 1.85%
PAAS: 1.69%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Pan American Silver (PAAS) at 18.00% pays out a band-typical share of earnings, while Linde (LIN) at 41.83% distributes more than its industry norm — less retained, thinner cover.

LIN

Materials industry group

41.83%

Max: 83.62%
LIN: 41.83%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

PAAS

Materials industry group

18.00%

Max: 83.62%
Q3: 41.37%
PAAS: 18.00%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Linde (LIN) and Pan American Silver (PAAS)
Metric	LIN	PAAS
Dividend Yield (TTM)	1.21%	1.69%
Dividend Payout Ratio (TTM)	41.83%	18.00%

Valuation

P/E Ratio (TTM)

Pan American Silver (PAAS) at 10.83 sits in the cheaper P/E ratio quartile, while Linde (LIN) at 34.21 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

LIN

Materials industry group

34.21

Max: 59.00
LIN: 34.21
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

PAAS

Materials industry group

10.83

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
PAAS: 10.83
Min: 3.93

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Pan American Silver (PAAS) at 3.80 is priced about in line with its industry on P/S ratio, while Linde (LIN) at 6.53 sits in the pricier quartile — LIN costs more per dollar of sales.

LIN

Materials industry group

6.53

Max: 9.62
LIN: 6.53
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

PAAS

Materials industry group

3.80

Max: 9.62
Q3: 4.34
PAAS: 3.80
Median: 1.87
Q1: 0.73
Min: 0.00

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

Pan American Silver (PAAS) at 2.29 is valued about in line with its industry on P/B ratio, while Linde (LIN) at 6.00 carries an above-peer premium to book — LIN is pricier on assets.

LIN

Materials industry group

6.00

Max: 6.59
LIN: 6.00
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

PAAS

Materials industry group

2.29

Max: 6.59
Q3: 3.55
PAAS: 2.29
Median: 2.08
Q1: 1.26
Min: -0.17

Linde (LIN) vs. Pan American Silver (PAAS): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Linde (LIN) and Pan American Silver (PAAS)
Metric	LIN	PAAS
P/E Ratio (TTM)	34.21	10.83
P/S Ratio (TTM)	6.53	3.80
P/B Ratio (MRQ)	6.00	2.29
Free Cash Flow Yield (TTM)	1.77%	8.01%