Financials Linde plc BOERSE DUESSELDORF

Equities

WM2

IE000S9YS762

Commodity Chemicals

End-of-day quote BOERSE DUESSELDORF 23:00:00 01/03/2023 GMT 5-day change 1st Jan Change
332.3 EUR -.--% Intraday chart for Linde plc -.--% -.--%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 113,883 137,919 176,328 160,663 199,149 210,943 - -
Enterprise Value (EV) 1 125,139 150,319 187,712 173,141 213,858 226,798 227,264 227,403
P/E ratio 50.8 x 55.9 x 47.3 x 39.6 x 32.6 x 31.5 x 28 x 24.9 x
Yield 1.64% 1.46% 1.22% 1.43% 1.24% 1.26% 1.36% 1.47%
Capitalization / Revenue 4.03 x 5.06 x 5.73 x 4.82 x 6.06 x 6.29 x 5.9 x 5.57 x
EV / Revenue 4.43 x 5.52 x 6.1 x 5.19 x 6.51 x 6.76 x 6.36 x 6.01 x
EV / EBITDA 15.3 x 17.4 x 18.4 x 15.9 x 17.6 x 17.7 x 16.6 x 15.5 x
EV / FCF 51.3 x 37.3 x 28.3 x 30.4 x 38.8 x 39.1 x 35.4 x 33.2 x
FCF Yield 1.95% 2.68% 3.54% 3.29% 2.58% 2.56% 2.83% 3.01%
Price to Book 2.32 x 2.91 x 4 x 4.07 x 5.09 x 5.31 x 5.18 x 5.02 x
Nbr of stocks (in thousands) 534,914 523,393 508,987 492,561 484,890 480,716 - -
Reference price 2 212.9 263.5 346.4 326.2 410.7 438.8 438.8 438.8
Announcement Date 13/02/20 05/02/21 10/02/22 07/02/23 06/02/24 - - -
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 33,542 35,746 37,852
EBITDA 1 8,178 8,645 10,179 10,873 12,133 12,828 13,679 14,628
EBIT 1 5,272 5,797 7,176 7,900 9,070 9,624 10,366 11,237
Operating Margin 18.68% 21.28% 23.3% 23.68% 27.61% 28.69% 29% 29.69%
Earnings before Tax (EBT) 1 2,927 3,384 5,099 5,543 7,988 8,378 9,073 10,212
Net income 1 2,285 2,501 3,826 4,147 6,199 6,701 7,369 8,132
Net margin 8.09% 9.18% 12.42% 12.43% 18.87% 19.98% 20.62% 21.48%
EPS 2 4.190 4.710 7.330 8.230 12.59 13.91 15.68 17.63
Free Cash Flow 1 2,437 4,029 6,639 5,691 5,518 5,808 6,422 6,842
FCF margin 8.63% 14.79% 21.56% 17.06% 16.8% 17.31% 17.97% 18.08%
FCF Conversion (EBITDA) 29.8% 46.6% 65.22% 52.34% 45.48% 45.27% 46.95% 46.77%
FCF Conversion (Net income) 106.65% 161.1% 173.52% 137.23% 89.01% 86.66% 87.15% 84.14%
Dividend per Share 2 3.500 3.850 4.240 4.680 5.100 5.537 5.975 6.435
Announcement Date 13/02/20 05/02/21 10/02/22 07/02/23 06/02/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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
Net sales 1 8,298 8,211 8,457 8,797 7,899 8,193 8,204 8,155 8,302 8,100 8,289 8,468 8,637 8,658 8,936
EBITDA 1 2,597 2,663 2,746 2,739 2,725 2,963 3,059 3,074 3,037 3,116 3,171 3,259 3,283 3,323 3,425
EBIT 1 1,841 1,905 2,000 2,010 2,000 2,206 2,286 2,306 2,272 2,341 2,383 2,466 2,483 2,513 2,609
Operating Margin 22.19% 23.2% 23.65% 22.85% 25.32% 26.93% 27.86% 28.28% 27.37% 28.9% 28.74% 29.12% 28.74% 29.03% 29.2%
Earnings before Tax (EBT) 1,355 1,535 646 1,648 1,714 1,941 2,004 2,047 1,996 2,080 - - - - -
Net income 1 1,026 1,174 372 1,273 1,328 1,516 1,575 1,565 1,543 1,627 1,708 1,734 1,751 1,704 1,798
Net margin 12.36% 14.3% 4.4% 14.47% 16.81% 18.5% 19.2% 19.19% 18.59% 20.09% 20.6% 20.48% 20.27% 19.68% 20.12%
EPS 2 1.980 2.300 0.7400 2.540 2.670 3.060 3.190 3.190 3.160 3.350 3.511 3.536 3.621 3.576 3.789
Dividend per Share 2 1.060 1.170 1.170 1.170 1.170 - - 1.275 1.275 1.390 1.394 1.394 1.394 1.515 1.515
Announcement Date 10/02/22 28/04/22 28/07/22 27/10/22 07/02/23 27/04/23 27/07/23 26/10/23 06/02/24 02/05/24 - - - - -
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 15,855 16,321 16,460
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.376 x 1.434 x 1.118 x 1.148 x 1.212 x 1.236 x 1.193 x 1.125 x
Free Cash Flow 1 2,437 4,029 6,639 5,691 5,518 5,808 6,422 6,842
ROE (net income / shareholders' equity) 7.95% 9.07% 12.2% 14.7% 15.5% 18.6% 20% 23%
ROA (Net income/ Total Assets) 4.45% 5% 6.57% 7.68% 7.73% 9.11% 9.74% 13.7%
Assets 1 51,373 50,020 58,235 53,976 80,235 73,532 75,672 59,448
Book Value Per Share 2 91.80 90.40 86.60 80.10 80.70 82.60 84.70 87.40
Cash Flow per Share 2 11.20 14.00 18.60 17.60 18.90 21.70 23.30 25.50
Capex 1 3,682 3,400 3,086 3,173 3,787 4,363 4,550 4,755
Capex / Sales 13.04% 12.48% 10.02% 9.51% 11.53% 13.01% 12.73% 12.56%
Announcement Date 13/02/20 05/02/21 10/02/22 07/02/23 06/02/24 - - -
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
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
28
Last Close Price
438.8 USD
Average target price
472.8 USD
Spread / Average Target
+7.75%
Consensus