Financials Linde plc

Equities

LIN

IE000S9YS762

Commodity Chemicals

Market Closed - Nasdaq Other stock markets 04:00:00 2025-03-21 pm EDT			5-day change	1st Jan Change
458.33 ^USD	+0.13%		+0.62%	+9.47%

Mar. 12	Linde Insider Sold Shares Worth $2,231,154, According to a Recent SEC Filing	MT
Mar. 11	LINDE PLC : Gets a Neutral rating from UBS	ZD

Projected Income Statement: Linde plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	27,243	30,793	33,364	32,854	33,005	33,976	35,916	37,697
Change	-	13.03%	8.35%	-1.53%	0.46%	2.94%	5.71%	4.96%
EBITDA ¹	8,645	10,179	10,873	12,133	12,819	13,375	14,314	15,309
Change	-	17.74%	6.82%	11.59%	5.65%	4.34%	7.02%	6.95%
EBIT ¹	5,797	7,176	7,900	9,070	9,720	10,239	10,993	11,862
Change	-	23.79%	10.09%	14.81%	7.17%	5.34%	7.36%	7.91%
Interest Paid ¹	-115	-77	-98	-200	-256	-245.6	-244.8	-250.5
Earnings before Tax (EBT) ¹	3,384	5,099	5,543	7,988	8,569	9,007	10,039	11,396
Change	-	50.68%	8.71%	44.11%	7.27%	5.12%	11.46%	13.51%
Net income ¹	2,501	3,826	4,147	6,199	6,565	7,188	7,822	8,722
Change	-	52.98%	8.39%	49.48%	5.9%	9.48%	8.82%	11.51%
Announcement Date	2/5/21	2/10/22	2/7/23	2/6/24	2/6/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	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	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	6,739	6,377	6,855	7,272	7,243	7,584	7,668	8,298	8,211	8,457	8,797	7,899	8,193	8,204	8,155	8,302	8,100	8,267	8,356	8,282	8,240	8,429	8,585	8,643	8,807	9,026	9,319	9,189
Change	-	-5.37%	7.5%	6.08%	-0.4%	4.71%	1.11%	8.22%	-1.05%	3%	4.02%	-10.21%	3.72%	0.13%	-0.6%	1.8%	-2.43%	2.06%	1.08%	-0.89%	-0.51%	2.29%	1.85%	0.68%	1.9%	2.48%	3.24%	-1.39%
EBITDA ¹	2,049	2,016	2,233	2,347	2,438	2,585	2,559	2,597	2,663	2,746	2,739	2,725	2,963	3,059	3,074	3,037	3,116	6,322	3,253	3,244	3,210	3,311	3,377	3,406	3,482	3,599	3,680	3,667
Change	-	-1.61%	10.76%	5.11%	3.88%	6.03%	-1.01%	1.48%	2.54%	3.12%	-0.25%	-0.51%	8.73%	3.24%	0.49%	-1.2%	2.6%	102.89%	-48.54%	-0.28%	-1.05%	3.15%	1.98%	0.87%	2.23%	3.37%	2.25%	-0.37%
EBIT ¹	1,352	1,317	1,515	1,613	1,688	1,837	1,810	1,841	1,905	2,000	2,010	2,000	2,206	2,286	2,306	2,272	2,341	2,422	2,477	2,480	2,432	2,531	2,592	2,619	2,697	2,832	2,928	2,907
Change	-	-2.59%	15.03%	6.47%	4.65%	8.83%	-1.47%	1.71%	3.48%	4.99%	0.5%	-0.5%	10.3%	3.63%	0.87%	-1.47%	3.04%	3.46%	2.27%	0.12%	-1.94%	4.06%	2.42%	1.03%	3%	5%	3.39%	-0.72%
Charge d'intérêts ¹	-24	-18	-38	-35	-20	-18	-8	-31	-19	-14	-26	-39	-37	-52	-40	-71	-67	-70	-68	-53	-61.33	-61.33	-62.33	-63	-	-	-	-
Earnings before Tax (EBT)	-	618	972	1,040	-	-	-	1,355	1,535	646	1,648	1,714	1,941	2,004	2,047	1,996	2,080	2,163	-	-	-	-	-	-	-	-	-	-
Change	-	-	57.28%	7%	-100%	-	-	-	13.28%	-57.92%	155.11%	4%	13.24%	3.25%	2.15%	-2.49%	4.21%	3.99%	-100%	-	-	-	-	-	-	-	-	-
Net income ¹	573	458	700	770	980	841	979	1,026	1,174	372	1,273	1,328	1,516	1,575	1,565	1,543	1,627	1,663	1,550	1,725	1,755	1,812	1,849	1,891	1,855	1,955	2,026	2,007
Change	-	-20.07%	52.84%	10%	27.27%	-14.18%	16.41%	4.8%	14.42%	-68.31%	242.2%	4.32%	14.16%	3.89%	-0.63%	-1.41%	5.44%	2.21%	-6.79%	11.29%	1.74%	3.27%	2.03%	2.23%	-1.86%	5.36%	3.64%	-0.93%
Announcement Date	5/7/20	7/30/20	11/5/20	2/5/21	5/6/21	7/30/21	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	5/2/24	8/2/24	10/30/24	2/6/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Linde plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	12,400	11,384	12,478	14,709	16,773	17,875	18,563	19,343
Change	-	-8.19%	9.61%	17.88%	14.03%	6.57%	3.85%	4.2%
Announcement Date	2/5/21	2/10/22	2/7/23	2/6/24	2/6/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Linde plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	3,400	3,086	3,173	3,787	4,497	5,009	4,973	4,993
Change	-	-9.24%	2.82%	19.35%	18.75%	11.38%	-0.7%	0.39%
Free Cash Flow (FCF) ¹	4,029	6,639	5,691	5,518	4,926	5,651	6,451	7,443
Change	-	64.78%	-14.28%	-3.04%	-10.73%	14.73%	14.15%	15.38%
Announcement Date	2/5/21	2/10/22	2/7/23	2/6/24	2/6/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Linde plc

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	31.73%	33.06%	32.59%	36.93%	38.84%	39.37%	39.85%	40.61%
EBIT Margin (%)	21.28%	23.3%	23.68%	27.61%	29.45%	30.14%	30.61%	31.47%
EBT Margin (%)	12.42%	16.56%	16.61%	24.31%	25.96%	26.51%	27.95%	30.23%
Net margin (%)	9.18%	12.42%	12.43%	18.87%	19.89%	21.15%	21.78%	23.14%
FCF margin (%)	14.79%	21.56%	17.06%	16.8%	14.93%	16.63%	17.96%	19.74%
FCF / Net Income (%)	161.1%	173.52%	137.23%	89.01%	75.03%	78.63%	82.48%	85.33%
Profitability
ROA	5%	6.57%	7.68%	7.73%	9.29%	9.73%	13.82%	10.81%
ROE	9.07%	12.21%	14.74%	15.55%	19.21%	20.13%	21.52%	22.92%
Financial Health
Leverage (Debt/EBITDA)	1.43x	1.12x	1.15x	1.21x	1.31x	1.34x	1.3x	1.26x
Debt / Free cash flow	3.08x	1.71x	2.19x	2.67x	3.4x	3.16x	2.88x	2.6x
Capital Intensity
CAPEX / Current Assets (%)	12.48%	10.02%	9.51%	11.53%	13.63%	14.74%	13.85%	13.25%
CAPEX / EBITDA (%)	39.33%	30.32%	29.18%	31.21%	35.08%	37.45%	34.75%	32.61%
CAPEX / FCF (%)	84.39%	46.48%	55.75%	68.63%	91.29%	88.63%	77.09%	67.08%
Items per share
Cash flow per share ¹	13.99	18.63	17.59	18.9	19.55	23	24.52	26.85
Change	-	33.23%	-5.63%	7.48%	3.41%	17.69%	6.59%	9.5%
Dividend per Share ¹	3.85	4.24	4.68	5.1	5.56	5.975	6.435	6.876
Change	-	10.13%	10.38%	8.97%	9.02%	7.47%	7.7%	6.85%
Book Value Per Share ¹	90.42	86.57	80.1	80.68	79.01	83.04	85.36	87.59
Change	-	-4.26%	-7.47%	0.73%	-2.07%	5.09%	2.8%	2.6%
EPS ¹	4.71	7.33	8.23	12.59	13.62	15.15	16.84	19.28
Change	-	55.63%	12.28%	52.98%	8.18%	11.25%	11.11%	14.52%
Nbr of stocks (in thousands)	523,393	508,987	492,561	484,890	476,158	472,912	472,912	472,912
Announcement Date	2/5/21	2/10/22	2/7/23	2/6/24	2/6/25	-	-	-