Linde plc (LIN)
Materials · Industrial gases production and distribution
The world's largest industrial gas company, producing atmospheric and process gases with proprietary technologies for energy, chemicals, healthcare, and electronics customers globally.
What Linde plc does
Linde plc is the world's largest industrial gas company, producing atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (hydrogen, helium, carbon dioxide, specialty gases, acetylene) for diverse industries including healthcare, chemicals, energy, manufacturing, metals and mining, food and beverage, and electronics. The company designs and builds gas production equipment and plants, offering customers integrated on-site, merchant bulk liquid, and packaged cylinder distribution solutions with long-term contracted supply arrangements. Linde operates through multiple distribution channels including cryogenic and process gas on-site plants connected by pipeline, tanker truck merchant delivery, and packaged gases, serving customers with volumes ranging from massive industrial plants to smaller on-site facilities.
Themes: ["Industrial gases and distribution","Blue hydrogen and carbon capture","Green hydrogen and renewable energy","Air separation and cryogenic technology","On-site gas production and services","Clean energy transition","Energy and chemicals sector","Electronics and semiconductor manufacturing support","Healthcare and medical gases"]
Fundamentals
- Price$525.56 as of 2026-07-09 close
- Market cap$243.1B as of 2026-07-10
- 1-year return+11.5% as of 2026-07-09 close
- P/E34.33 as of 2026-07-10
- Net margin+20.4% as of 2026-07-10
- Gross margin+48.8% as of 2026-07-10
- ROE+18.4% as of 2026-07-10
- Debt / equity0.68 as of 2026-07-10
- Revenue growth (YoY)+5.0% as of 2026-07-10
- Revenue CAGR (3y)+0.6% SEC XBRL
- Beta0.72 as of 2026-07-10
Dividend: yield +1.2%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Volatile global energy prices and natural gas feedstock costs impact hydrogen and process gas production economics and customer demand across energy and chemical sectors","Long-term on-site supply contracts with 10-20 year terms and minimum purchase requirements create revenue concentration risk and limit flexibility if customer demand or industries decline","Exposure to cyclical industrial end-markets (chemicals, manufacturing, metals, energy) and economic downturns that reduce customer gas consumption and plant utilization rates"]
Competitors & peers
- Air Liquide
- Praxair (merged with Linde in 2018)
- Air Products & Chemicals (APD)
- Messer Cutting Systems
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.