Financials Linde plc

Equities

LIN

IE000S9YS762

Commodity Chemicals

Market Closed - Nasdaq 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
443.2 USD -0.15% Intraday chart for Linde plc -0.70% +7.91%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 113,883 137,919 176,328 160,663 199,149 213,425 - -
Enterprise Value (EV) 1 125,139 150,319 187,712 173,141 213,858 228,998 229,258 229,483
P/E ratio 50.8 x 55.9 x 47.3 x 39.6 x 32.6 x 31.3 x 28.5 x 24.5 x
Yield 1.64% 1.46% 1.22% 1.43% 1.24% 1.25% 1.36% 1.46%
Capitalization / Revenue 4.03 x 5.06 x 5.73 x 4.82 x 6.06 x 6.22 x 5.87 x 5.52 x
EV / Revenue 4.43 x 5.52 x 6.1 x 5.19 x 6.51 x 6.67 x 6.3 x 5.94 x
EV / EBITDA 15.3 x 17.4 x 18.4 x 15.9 x 17.6 x 17.8 x 16.7 x 15.5 x
EV / FCF 51.3 x 37.3 x 28.3 x 30.4 x 38.8 x 40.9 x 36.1 x 33.5 x
FCF Yield 1.95% 2.68% 3.54% 3.29% 2.58% 2.44% 2.77% 2.99%
Price to Book 2.32 x 2.91 x 4 x 4.07 x 5.09 x 5.31 x 5.16 x 5.05 x
Nbr of stocks (in thousands) 534,914 523,393 508,987 492,561 484,890 481,576 - -
Reference price 2 212.9 263.5 346.4 326.2 410.7 443.2 443.2 443.2
Announcement Date 2/13/20 2/5/21 2/10/22 2/7/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 28,228 27,243 30,793 33,364 32,854 34,307 36,373 38,629
EBITDA 1 8,178 8,645 10,179 10,873 12,133 12,869 13,759 14,842
EBIT 1 5,272 5,797 7,176 7,900 9,070 9,640 10,387 11,367
Operating Margin 18.68% 21.28% 23.3% 23.68% 27.61% 28.1% 28.56% 29.43%
Earnings before Tax (EBT) 1 2,927 3,384 5,099 5,543 7,988 8,417 9,149 10,369
Net income 1 2,285 2,501 3,826 4,147 6,199 6,743 7,275 8,192
Net margin 8.09% 9.18% 12.42% 12.43% 18.87% 19.65% 20% 21.21%
EPS 2 4.190 4.710 7.330 8.230 12.59 14.16 15.54 18.08
Free Cash Flow 1 2,437 4,029 6,639 5,691 5,518 5,592 6,353 6,854
FCF margin 8.63% 14.79% 21.56% 17.06% 16.8% 16.3% 17.47% 17.74%
FCF Conversion (EBITDA) 29.8% 46.6% 65.22% 52.34% 45.48% 43.45% 46.17% 46.18%
FCF Conversion (Net income) 106.65% 161.1% 173.52% 137.23% 89.01% 82.94% 87.32% 83.67%
Dividend per Share 2 3.500 3.850 4.240 4.680 5.100 5.557 6.006 6.468
Announcement Date 2/13/20 2/5/21 2/10/22 2/7/23 2/6/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 7,668 8,298 8,211 8,457 8,797 7,899 8,193 8,204 8,155 8,302 8,389 8,522 8,630 8,742 9,056
EBITDA 1 2,559 2,597 2,663 2,746 2,739 2,725 2,963 3,059 3,074 3,037 3,110 3,227 3,282 3,280 3,369
EBIT 1 1,810 1,841 1,905 2,000 2,010 2,000 2,206 2,286 2,306 2,272 2,312 2,436 2,488 2,472 2,575
Operating Margin 23.6% 22.19% 23.2% 23.65% 22.85% 25.32% 26.93% 27.86% 28.28% 27.37% 27.56% 28.58% 28.83% 28.27% 28.43%
Earnings before Tax (EBT) 1 - 1,355 1,535 646 1,648 1,714 1,941 2,004 2,047 1,996 2,114 2,229 2,247 2,219 -
Net income 1 979 1,026 1,174 372 1,273 1,328 1,516 1,575 1,565 1,543 1,631 1,725 1,768 1,750 1,740
Net margin 12.77% 12.36% 14.3% 4.4% 14.47% 16.81% 18.5% 19.2% 19.19% 18.59% 19.44% 20.24% 20.49% 20.01% 19.21%
EPS 2 1.880 1.980 2.300 0.7400 2.540 2.670 3.060 3.190 3.190 3.160 3.253 3.481 3.606 3.577 3.641
Dividend per Share 2 1.060 1.060 1.170 1.170 1.170 1.170 - - 1.275 1.275 1.397 1.397 1.397 1.397 1.527
Announcement Date 10/28/21 2/10/22 4/28/22 7/28/22 10/27/22 2/7/23 4/27/23 7/27/23 10/26/23 2/6/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,256 12,400 11,384 12,478 14,709 15,572 15,833 16,058
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.376 x 1.434 x 1.118 x 1.148 x 1.212 x 1.21 x 1.151 x 1.082 x
Free Cash Flow 1 2,437 4,029 6,639 5,691 5,518 5,592 6,353 6,854
ROE (net income / shareholders' equity) 7.95% 9.07% 12.2% 14.7% 15.5% 18.9% 19.9% 24%
ROA (Net income/ Total Assets) 4.45% 5% 6.57% 7.68% 7.73% 9.26% 9.83% 13.8%
Assets 1 51,373 50,020 58,235 53,976 80,235 72,826 74,020 59,358
Book Value Per Share 2 91.80 90.40 86.60 80.10 80.70 83.50 85.90 87.80
Cash Flow per Share 2 11.20 14.00 18.60 17.60 18.90 22.00 23.40 25.40
Capex 1 3,682 3,400 3,086 3,173 3,787 4,578 4,546 4,810
Capex / Sales 13.04% 12.48% 10.02% 9.51% 11.53% 13.34% 12.5% 12.45%
Announcement Date 2/13/20 2/5/21 2/10/22 2/7/23 2/6/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
28
Last Close Price
443.2 USD
Average target price
472.4 USD
Spread / Average Target
+6.59%
Consensus