Company Valuation: Linde plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 176,328 160,663 199,149 199,353 199,102 224,626 - -
Change - -8.88% 23.95% 0.1% -0.13% 12.82% - -
Enterprise Value (EV) 1 187,712 173,141 213,858 216,126 221,035 247,909 248,599 248,963
Change - -7.76% 23.52% 1.06% 2.27% 12.16% 0.28% 0.15%
P/E ratio 47.3x 39.6x 32.6x 30.7x 29.2x 29.6x 26.7x 23.8x
PBR 4x 4.07x 5.09x 5.3x 5.26x 5.74x 5.55x 5.39x
PEG - 3.2x 0.6x 3.75x 4.02x 2.5x 2.4x 2x
Capitalization / Revenue 5.73x 4.82x 6.06x 6.04x 5.86x 6.32x 6.02x 5.69x
EV / Revenue 6.1x 5.19x 6.51x 6.55x 6.5x 6.97x 6.66x 6.3x
EV / EBITDA 18.4x 15.9x 17.6x 16.9x 16.6x 17.6x 16.5x 15.4x
EV / EBIT 26.2x 21.9x 23.6x 22.2x 21.8x 22.9x 21.3x 19.8x
EV / FCF 28.3x 30.4x 38.8x 43.9x 43.4x 39.6x 36.2x 33.1x
FCF Yield 3.54% 3.29% 2.58% 2.28% 2.3% 2.52% 2.76% 3.02%
Dividend per Share 2 4.24 4.68 5.1 5.56 6 6.465 7 7.417
Rate of return 1.22% 1.43% 1.24% 1.33% 1.41% 1.33% 1.44% 1.53%
EPS 2 7.33 8.23 12.59 13.62 14.61 16.35 18.17 20.38
Distribution rate 57.8% 56.9% 40.5% 40.8% 41.1% 39.5% 38.5% 36.4%
Net sales 1 30,793 33,364 32,854 33,005 33,986 35,550 37,335 39,495
EBITDA 1 10,179 10,873 12,133 12,819 13,351 14,125 15,035 16,202
EBIT 1 7,176 7,900 9,070 9,720 10,137 10,828 11,652 12,589
Net income 1 3,826 4,147 6,199 6,565 6,898 7,594 8,253 9,066
Net Debt 1 11,384 12,478 14,709 16,773 21,933 23,284 23,974 24,337
Reference price 2 346.43 326.18 410.71 418.67 426.39 484.74 484.74 484.74
Nbr of stocks (in thousands) 508,987 492,561 484,890 476,158 466,949 463,394 - -
Announcement Date 2/10/22 2/7/23 2/6/24 2/6/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
29.64x6.97x17.55x1.33% 225B
21x6.18x14.24x2.66% 60.6B
20.64x2.39x10.04x1% 15.84B
118.09x - - 0.22% 6.3B
28.79x2.95x11.8x0.83% 5.53B
95.48x - - 0.19% 5.17B
122.55x14.14x49.26x0.26% 4.93B
28.65x2.32x13.48x1.55% 4.5B
56.56x - - - 3.5B
114.63x - - - 3.36B
Average 63.60x 5.83x 19.40x 1.01% 33.44B
Weighted average by Cap. 32.81x 6.57x 16.88x 1.5%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield