LIN vs. SHW: Linde vs. Sherwin-Williams Stock Comparison

November 11, 2026

How do Linde (LIN) and Sherwin-Williams (SHW) 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 Sherwin-Williams (SHW) both belong to the Chemicals industry, though LIN is classified under Industrial Gases while SHW falls under Specialty Chemicals.

Company profile comparison for Linde (LIN) and Sherwin-Williams (SHW)
Profile Item	LIN	SHW
Name	Linde plc	The Sherwin-Williams Company
Country/Region	United Kingdom	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Chemicals
GICS Sub-Industry	Industrial Gases	Specialty Chemicals
Market Capitalization	236.54 billion USD	83.13 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	June 17, 1992	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

LIN

SHW

GSPC

Linde (LIN) vs. Sherwin-Williams (SHW), 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 Sherwin-Williams (SHW). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Linde (LIN) and Sherwin-Williams (SHW). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Linde (LIN) and Sherwin-Williams (SHW)
Metric	LIN	SHW
Total Return (1Y)	25.64%	5.74%
Total Return (3Y, Annualized)	11.48%	13.18%
Total Return (5Y, Annualized)	10.50%	2.84%

Risk Profile

Drawdown History

LIN

SHW

GSPC

Linde (LIN) vs. Sherwin-Williams (SHW), 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 Sherwin-Williams (SHW). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Linde (LIN) and Sherwin-Williams (SHW)
Metric	LIN	SHW
Volatility (1Y, Annualized)	19.00%	29.59%
Beta (5Y)	0.67	1.02
Max Drawdown (5Y)	-22.82%	-42.46%
Avg. Volume (3M)	2.05M	1.72M

Risk-Adjusted Performance

Risk-Return Positioning

LIN and SHW 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 Sherwin-Williams (SHW)
Metric	LIN	SHW
Sharpe Ratio (1Y)	1.12	0.05
Sortino Ratio (1Y)	1.65	0.08

Profitability

ROE (TTM)

Sherwin-Williams (SHW) at 63.70% clears its industry range for ROE, a sharper capital-efficiency signal than Linde (LIN) at 17.72%, which is closer to a typical peer reading.

LIN

Materials industry group

17.72%

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

SHW

Materials industry group

63.70%

SHW: 63.70%
Max: 52.88%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Linde (LIN) at 19.34% retains a top-quartile share of revenue as profit, ahead of Sherwin-Williams (SHW) at 10.74%, which keeps about the industry-typical share.

LIN

Materials industry group

19.34%

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

SHW

Materials industry group

10.74%

Max: 38.66%
Q3: 15.98%
SHW: 10.74%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Linde (LIN) at 27.97% and Sherwin-Williams (SHW) at 17.56% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

LIN

Materials industry group

27.97%

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

SHW

Materials industry group

17.56%

Max: 66.70%
Q3: 28.92%
SHW: 17.56%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Linde (LIN) and Sherwin-Williams (SHW)
Metric	LIN	SHW
ROE (TTM)	17.72%	63.70%
ROA (TTM)	7.17%	9.48%
Net Margin (TTM)	19.34%	10.74%
Operating Margin (TTM)	27.97%	17.56%
Gross Margin (TTM)	47.86%	48.60%

Growth

Revenue Growth

Both Linde (LIN) at 2.97% and Sherwin-Williams (SHW) at 2.06% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Linde (LIN) at 7.27% and Sherwin-Williams (SHW) at -2.75% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Linde (LIN) and Sherwin-Williams (SHW)
Metric	LIN	SHW
Revenue Growth (YoY)	2.97%	2.06%
Revenue Growth (3Y CAGR)	0.62%	2.10%
EPS Growth (YoY)	7.27%	-2.75%
EPS Growth (3Y CAGR)	21.08%	9.95%

Financial Strength

Current Ratio (MRQ)

Both Linde (LIN) at 0.86 and Sherwin-Williams (SHW) at 0.71 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

LIN

Materials industry group

0.86

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

SHW

Materials industry group

0.71

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
SHW: 0.71
Min: 0.16

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Linde (LIN) at 0.65 is near its industry mid-range for debt-to-equity ratio, while Sherwin-Williams (SHW) at 3.72 sits above its benchmark range, pointing to a heavier debt load relative to equity.

LIN

Materials industry group

0.65

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

SHW

Materials industry group

3.72

SHW: 3.72
Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Linde (LIN) and Sherwin-Williams (SHW)
Metric	LIN	SHW
Current Ratio (MRQ)	0.86	0.71
Debt / Equity (MRQ)	0.65	3.72
Net Debt / EBITDA	1.65	3.04

Dividends

Dividend Yield (TTM)

Both Linde (LIN) at 1.21% and Sherwin-Williams (SHW) at 0.91% 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%

SHW

Materials industry group

0.91%

Max: 4.52%
Q3: 1.85%
SHW: 0.91%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Sherwin-Williams (SHW) at 29.35% 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%

SHW

Materials industry group

29.35%

Max: 83.62%
Q3: 41.37%
SHW: 29.35%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Linde (LIN) and Sherwin-Williams (SHW)
Metric	LIN	SHW
Dividend Yield (TTM)	1.21%	0.91%
Dividend Payout Ratio (TTM)	41.83%	29.35%

Valuation

P/E Ratio (TTM)

Sherwin-Williams (SHW) at 31.66 is near its industry’s usual P/E ratio, while Linde (LIN) at 34.21 sits in the richer quartile — LIN needs stronger growth or earnings quality to justify the premium.

LIN

Materials industry group

34.21

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

SHW

Materials industry group

31.66

Max: 59.00
Q3: 32.93
SHW: 31.66
Median: 18.82
Q1: 11.96
Min: 3.93

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Sherwin-Williams (SHW) at 3.34 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

SHW

Materials industry group

3.34

Max: 9.62
Q3: 4.34
SHW: 3.34
Median: 1.87
Q1: 0.73
Min: 0.00

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Linde (LIN) at 6.00 sits in the upper P/B ratio quartile, and Sherwin-Williams (SHW) at 20.78 prices even higher, above its industry range.

LIN

Materials industry group

6.00

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

SHW

Materials industry group

20.78

SHW: 20.78
Max: 6.59
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

Linde (LIN) vs. Sherwin-Williams (SHW): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Linde (LIN) and Sherwin-Williams (SHW)
Metric	LIN	SHW
P/E Ratio (TTM)	34.21	31.66
P/S Ratio (TTM)	6.53	3.34
P/B Ratio (MRQ)	6.00	20.78
Free Cash Flow Yield (TTM)	1.77%	2.98%