Read from its own SEC filings · nothing written, nothing inferred

Linde $LIN

🫧 Edgar looked up Linde plc ($LIN). Last filing: 10-Q, 2026-07-31. 9 event filings (8-K) in the past twelve months.

🔖 Exposure: revenue $34.0B (FY2025), total debt $22.5B. Experience: revenue up 3.0% on the year, up 2.5% a year over 4 years; operating margin 26.3%, up from 26.2%. Soundness: equity 44.1% of assets, return on equity 18.5%, payout 39.8% of profit, dividend per share up 9 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $31.0B and $36.1B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $29.0B to $38.3B. A statistical range, not company guidance. Against peers (9 filers, $50M+ revenue, industrial inorganic chemicals): operating margin 26.3% against a 3.0% median; growth 3.0% against -1.3%.

Linde plc against its own record and its peers
Operating marginPeer median 3.0%26.3%Revenue, on the yearPeer median -1.3%3.0%Equity of assetsPeer median 44.0%44.1%Return on equityPeer median -2.6%18.5%Payout of profit39.8%Gold tick: the median of 9–9 peers with $50M+ revenue in industrial inorganic chemicals
Handed back now, or kept to compound
Of each dollar of profit39.8% paid out60.2% keptHanded back per share$6up 9 years runningGrowth its own profit can fund11.1%retained x return on equityRevenue growth it managed3.0%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

The figures, as filed

Fiscal year end2025-12-31
Revenue$34.0B
Revenue, on the year3.0%
Revenue, a year over the record2.5%
Operating margin26.3%
Operating margin, prior year26.2%
Net margin20.8%
Research and development$147M · 0.4% of revenue
Free cash flow$5.1B
Cash$5.1B
Total debt$22.5B
Equity of assets44.1%
Return on equity18.5%
Payout of profit39.8%
Dividend per share$6 · up 9 years running
Earnings per share$14.69
Book value per share$80.99
Revenue per share$71.97
Shares outstanding472,195,000
Audited years read5

Peers: the median of 9 filers with $50M+ revenue in industrial inorganic chemicals.

Health watch · last 12 months

Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt.

Health Harbor

Linde sails as: New ship

Sailing speed follows growth: 0.6% a year crosses the harbor in 78 seconds.

No warning signs on the measures below.

New shipno warning signs
Sound shipone warning sign
Weathered boattwo warning signs
Old boatthree warning signs
Rotting at the dockfour or more warning signs

Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider. A picture of the signs, not a rating and not investment advice.

Speed and cash · fiscal 2025

Cash Compass🐄 Cash cow now · steady, with strong cash arriving today
Inside viewTurns 30.4% of revenue into operating cash; revenue growing 0.6% a year over three years; pays and raised its dividend.
Outside viewAmong $10B+ companies: 83rd percentile for cash, 29th for growth. cash growth

Both views must agree for a label · market view (price) not sourced; add a price at /boards/ask.json?q=TICKER&price=… · a description, not advice.

Cash conversion (operating cash ÷ revenue)30.4%
Growth speed (3 years, per year)0.6%
Revenue swing (std-dev of yearly growth)4.1%
Speed and steadinessSlow and steady
Common dividendpaid, raised on the year
Equity of assets44.0%

Linde is growing slower than its size class, with steadier revenue. SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class.

Recent filings

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price. Reporting, not investment advice. No price targets and no trading recommendations. Figures from the SEC’s own data · every filing · this page as JSON · ask about another company

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