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Linde plc Ordinary Shares
🇺🇸 LIN · NYSE/NASDAQ · IE000S9YS762
Materials
Price at analysis: USD 495.82 Current price: USD 492.96 * updated every night
Scores
Key Metrics
Powered by EODHDP/E (TTM)
32.0
P/E (Price-to-Earnings)Shows how much investors pay for each $1 of profit. We display the TTM P/E (Trailing Twelve Months) which uses actual earnings from the last 4 quarters. This is more reliable than Forward P/E which uses analyst estimates.
Calculation: 495.82 ÷ 15.49 = 32.0
TTM period through: 2026-06-30
Forward P/E (estimated): 23.6
Based on analyst estimates
Reference: Provider P/E (Trailing): 31.8
Net Debt/EBITDA (TTM)
1.7x
Latest quarter: 6.6x
Net Debt / EBITDAA leverage ratio showing how many years of EBITDA (earnings before interest, taxes, depreciation, and amortization) it would take to repay net debt. EBITDA approximates operating cash generation. Lower ratios (e.g., <3x) are generally safer; higher (e.g., >5x) may indicate more financial risk.
TTM through: 2026-06-30
Latest quarter (2026-06-30): 6.6x
The quarterly value can spike when quarterly EBITDA is very low (e.g., one-time charges).
Quick guide: <2x manageable, >4x can be risky (sector-dependent).
ROE
18.4%
ROE (Return on Equity)A profitability measure: how much profit is generated from shareholders’ equity. Higher isn’t always better if it comes from high debt.
EV/EBITDA
17.4x
EV/EBITDAA valuation ratio that compares total business value (including debt) to EBITDA. Lower can mean cheaper, but context matters.
Dividend Summary
Powered by EODHDDividend Yield (Fwd)
1.21%
TTM: 1.26%
Dividend YieldThe Forward yield (Fwd) shows the next announced annual dividend / current price — what you'd earn going forward. The Trailing yield (TTM) in the tooltip shows dividends actually paid in the last 12 months. Forward is shown as primary because it reflects the company's current commitment to shareholders.
Forward Yield (estimated): 1.21%
Trailing Yield (TTM, last 12 months): 1.26%
Payout Ratio (Fwd)
41.3%
TTM: 39.7%
Payout RatioDividends as a percentage of earnings. The Forward payout (Fwd) uses the announced dividend divided by actual past earnings (TTM) — it tells you if the company can afford what it promised. Very high payouts can be risky, especially if profits fall.
Announced dividend / actual earnings (TTM)
Payout (Fwd): 41.3%
Payout (TTM): 39.7%
Cash Flow Payout (TTM): 27.4%
FCF Coverage (TTM): 1.73x
Growth Streak
8 yrs
Consec. increases
Div. Growth (5Y)
9.3%
Dividend History
EODHD Dividends API| Status | Type | Decl. Date | Ex-Div Date | Pay Date | Currency | Amount |
|---|---|---|---|---|---|---|
| Forecast* | Quarterly | — | 03 Sep 2027 | — | USD | 1.6 |
| Forecast* | Quarterly | — | 04 Jun 2027 | — | USD | 1.6 |
| Forecast* | Quarterly | — | 11 Mar 2027 | — | USD | 1.6 |
| Forecast* | Quarterly | — | 03 Dec 2026 | — | USD | 1.5 |
| Paid | Quarterly | 28 Jul 2026 | 03 Sep 2026 | 17 Sep 2026 | USD | 1.6 |
| Paid | Quarterly | 27 Apr 2026 | 04 Jun 2026 | 18 Jun 2026 | USD | 1.6 |
| Paid | Quarterly | 24 Feb 2026 | 11 Mar 2026 | 26 Mar 2026 | USD | 1.6 |
| Paid | Quarterly | 27 Oct 2025 | 03 Dec 2025 | 17 Dec 2025 | USD | 1.5 |
* Extrapolated from past dividend history. Not an official announcement — treat as an estimate, not a confirmed date or amount.
Summary
Linde remains a premier global compounder with an exceptional economic moat, robust margins, and highly defensive cash flows. While the underlying business quality is elite, the steep 32.01x P/E valuation and low 1.26% yield provide no immediate opportunity. Existing holders should maintain their positions, but prospective buyers should wait for a meaningful price pullback.
Sector Context
Linde operates in the Materials/Specialty Chemicals sector, effectively functioning as an industrial utility. It provides critical industrial and medical gases globally, relying on long-term take-or-pay contracts that insulate cash flows from short-term macroeconomic volatility.
📊 Strategy Analysis
- • Exceptional economic moat in an oligopolistic industrial gas market, driving strong profitability with an 18.4% ROE and 38.3% EBITDA margins.
- • Highly sustainable dividend profile, supported by a conservative 41.3% forward payout ratio and 1.73x FCF dividend coverage.
- • Parent entity assets have been successfully shielded from Russian EPC contract liabilities via international anti-suit injunctions in Hong Kong and the UK.
⚠ What to Watch
- • Severely stretched valuation at a 32.01x TTM P/E provides essentially no margin of safety for new capital deployment.
- • The 1.26% TTM dividend yield provides minimal current income, falling short of traditional DGI portfolio targets.
- • Ongoing contingent liabilities totaling approximately $1.8 billion ($1.1B for RCA and $0.7B for Amur GPP) remain structural legal overhangs, though largely provisioned and isolated.
📊 Historical Trends (10 Years)
Powered by EODHDThese charts show how key metrics have evolved over the past decade, helping you identify if the company is improving or deteriorating.
Debt Evolution (Net Debt / EBITDA)
Lower values are better. A declining trend indicates the company is reducing its debt (deleveraging).
Revenue & Earnings Growth
Consistent growth in revenueRevenue
The money a company brings in from selling its products or services. It’s the top line before costs. (blue) and earningsEarnings (Profit)
What’s left after expenses. Positive earnings mean the business made a profit; negative means a loss. (green) indicates a healthy business. Look for upward trends and recoveries after temporary dips.
Dividend Sustainability (FCF vs Dividends Paid)
Free cash flowFree Cash Flow
Cash left after the company pays for running the business and maintaining it. Often used to fund dividends, pay debt, or buy back shares. (FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., blue) should cover dividends paidDividends Paid
Cash the company paid out to shareholders. It’s not guaranteed and can change over time. (green). If dividends consistently exceed FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., the dividend may be at risk.
Analysis date: 2026-10-17
Disclaimer: This information is for educational purposes only. Not financial advice.