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Linde

NSQ:LIN · IE000S9YS762
ChemicalsXX-Large

360

58
EV / EBIT23
Price / Owner Earnings23
Owner Earnings Yield52
Dividend Yield39
Price/Sales5
EV / Gross Profit20
Price/Book3
Return on Capital77
Cash Return on Capital74
Return on Equity77
EBIT Margin95
Gross Profitability51
Cash Conversion41
Accruals25
Owner Earnings Margin92
Sales growth70
Profit Growth100
Long-Term EPS Growth47
Owner Earnings Growth48
Reinvestment36
Price momentum65
Debt load38
Refinancing6
Debt Payback60
Liquidity91
Analyst ratings73
Opinion Changes50
Price Target Upside20
Market mood100
Value Creation12/20creating some value
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

Linde clears its cost of capital, but the record is mixed across the five tests. Real value creation, just not yet consistent.

Profile

CountryUK
IndustryChemicals
SizeXX-Large
TypePublic Company
ExchangeNASDAQGS
Founded2017
Employees15,403
Websitelinde.com
ISINIE000S9YS762
Last UpdateApr 2, 2026
Indices
NASDAQ 100 (USA)NASDAQ (USA)S&P 500 (USA)
Themes
Carbon Capture, Utilisation & Sequestration (CCUS) or (CCS)Clean EnergyCleanTechHydrogenHealth CareIndustrialIndustrial EngineeringManufacturingMedicalOil and GasSustainability

Description

Linde plc (Linde), an industrial gas company, operates as a technological innovator in the industrial gases industry worldwide. The company's primary products in its industrial gases business are atmospheric gases, such as oxygen, nitrogen, argon, a…

Analysis

Hope premium

Linde plc is priced well ahead of what the underlying numbers justify, a pattern we describe as a hope premium.

On valuation, the picture is expensive. The owner-earnings multiple stands at 42.8×; owner earnings: the cash an owner could take out each year. The implied growth embedded in that price is around 16% a year, against analyst forecasts of 9%. The gap between price and consensus is worth watching: demanding expectations.

Growth is moderate; the safety picture is sturdy. The company scores 12/20 on our value-creation score: creating some value.

Flags to be aware of: The financial cushion is thinner than comfortable. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
61
2023202420252026

All-time high

92

Jan 2024

All-time low

14

Jan 2025

Average rank

64

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
5
5
1
9
Price/Earnings
7
20
7
12
Price/Book
3
9
12
42
Dividend Yield
39
1
34
34
Value (overall)
4
13
8
4

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →