financial statements

The full income statement, balance sheet, and cash-flow statement for Linde plc (LIN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	34.0B YoY+3.0%	33.0B YoY+0.5%	32.9B YoY-1.5%	33.4B YoY+8.3%	30.8B YoY+13.0%
Research & development	147M YoY-2.0%	150M YoY+2.7%	146M YoY+2.1%	143M YoY+0.0%	143M YoY-5.9%
Selling, general & administrative	3.43B YoY+2.9%	3.34B YoY+1.3%	3.29B YoY+6.1%	3.11B YoY-2.6%	3.19B YoY-0.1%
General & administrative	2.08B YoY+3.9%	2.00B YoY+2.0%	1.97B YoY+8.4%	1.81B YoY-1.9%	1.85B YoY-2.3%
Restructuring	273M YoY+88.3%	145M YoY+262.5%	40.0M YoY-96.1%	1.03B YoY+276.9%	273M YoY-46.0%
Amortization of intangibles	517M YoY-6.7%	554M YoY+0.7%	550M YoY-3.7%	571M YoY-21.0%	723M YoY-5.5%
Provision for credit losses	207M YoY+15.0%	180M YoY+2.9%	175M YoY+7.4%	163M YoY+26.4%	129M YoY-29.1%
Operating income	8.92B YoY+3.3%	8.63B YoY+7.6%	8.02B YoY+49.5%	5.37B YoY+7.7%	4.98B YoY+50.0%
Interest expense	255M YoY-0.4%	256M YoY+28.0%	200M YoY+217.5%	63.0M	—
Net interest income	-255M YoY+0.4%	-256M YoY-28.0%	-200M YoY-217.5%	-63.0M YoY+18.2%	-77.0M YoY+33.0%
Equity-method income	150M YoY-11.8%	170M YoY+1.8%	167M YoY-2.9%	172M YoY+44.5%	119M YoY+40.0%
Pre-tax income	8.90B YoY+3.8%	8.57B YoY+7.3%	7.99B YoY+44.1%	5.54B YoY+8.7%	5.10B YoY+50.7%
Income tax	1.99B YoY-0.6%	2.00B YoY+10.4%	1.81B YoY+26.5%	1.43B YoY+13.6%	1.26B YoY+49.0%
	6.90B YoY+5.1%	6.57B YoY+5.9%	6.20B YoY+49.5%	4.15B YoY+8.4%	3.83B YoY+53.0%
Income from continuing operations	—	—	6.20B YoY+49.5%	4.15B YoY+8.5%	3.82B YoY+53.0%
Discontinued operations	—	—	0.00	0.00 YoY-100.0%	5.00M YoY+25.0%
Net income to non-controlling interest	160M YoY-7.0%	172M YoY+21.1%	142M YoY+6.0%	134M	—
	$14.61 YoY+7.3%	$13.62 YoY+8.2%	$12.59 YoY+53.0%	$8.23 YoY+12.3%	$7.33 YoY+55.6%
EPS (basic)	$14.69 YoY+7.1%	$13.71 YoY+8.0%	$12.70 YoY+53.0%	$8.30 YoY+12.2%	$7.40 YoY+55.8%
Weighted-avg shares (basic)	469M YoY-1.9%	479M YoY-1.9%	488M YoY-2.3%	500M YoY-3.3%	517M YoY-1.9%
Weighted-avg shares (diluted)	472M YoY-2.1%	482M YoY-2.1%	492M YoY-2.3%	504M YoY-3.4%	522M YoY-1.7%
Dividends per share	$6.00 YoY+7.9%	$5.56 YoY+9.0%	$5.10 YoY+9.0%	$4.68 YoY+10.4%	$4.24 YoY+10.1%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	13.3B YoY+2.9%	12.9B YoY+2.6%	12.6B YoY-3.3%	13.0B YoY+28.4%	10.2B YoY-7.0%
Cash & equivalents	5.06B YoY+4.2%	4.85B YoY+4.0%	4.66B YoY-14.2%	5.44B YoY+92.6%	2.82B YoY-24.8%
Accounts receivable	4.97B YoY+7.4%	4.62B YoY-2.0%	4.72B YoY+3.5%	4.56B YoY+1.3%	4.50B YoY+8.0%
Inventory	2.06B YoY+5.6%	1.95B YoY-8.0%	2.12B YoY+6.9%	1.98B YoY+14.1%	1.73B YoY+0.2%
Prepaid expenses	546M YoY-5.7%	579M YoY-0.7%	583M YoY-2.3%	597M YoY+13.3%	527M YoY+2.1%
Other current assets	979M YoY-22.5%	1.26B YoY+36.4%	927M YoY-2.4%	950M YoY-2.1%	970M YoY-12.8%
	86.8B YoY+8.3%	80.1B YoY-0.8%	80.8B YoY+1.4%	79.7B YoY-2.4%	81.6B YoY-7.5%
Property, plant & equipment	28.3B YoY+14.1%	24.8B YoY+0.9%	24.6B YoY+4.3%	23.5B YoY-9.4%	26.0B YoY-9.4%
Operating lease right-of-use	886M YoY+10.8%	800M YoY+5.4%	759M YoY+4.5%	726M YoY-14.9%	853M YoY-8.8%
Goodwill	27.9B YoY+7.7%	25.9B YoY-3.0%	26.8B YoY+3.6%	25.8B YoY-4.5%	27.0B YoY-4.1%
Intangible assets	11.9B YoY+4.8%	11.3B YoY-8.6%	12.4B YoY-0.2%	12.4B YoY-10.0%	13.8B YoY-14.7%
Deferred tax assets	423M YoY-1.2%	428M YoY+89.4%	226M YoY-1.7%	230M YoY-5.0%	242M YoY-9.7%
Other non-current assets	5.43B YoY+79.3%	3.03B YoY+31.8%	2.30B YoY-7.1%	2.48B YoY+24.8%	1.98B YoY-7.6%
	15.2B YoY+4.5%	14.5B YoY-7.5%	15.7B YoY-4.6%	16.5B YoY+20.8%	13.6B YoY-0.7%
Accounts payable	2.81B YoY+12.1%	2.51B YoY-17.0%	3.02B YoY+0.8%	3.00B YoY-14.5%	3.50B YoY+13.2%
Accrued liabilities	6.16M YoY+0.0%	6.16M YoY+0.0%	6.16M YoY+0.0%	6.16M YoY+0.0%	6.16M YoY+0.0%
Deferred revenue	1.23B YoY+3.1%	1.19B YoY-37.2%	1.90B YoY-38.1%	3.07B YoY+4.5%	2.94B YoY+66.2%
Short-term & current debt	1.80B YoY-12.7%	2.06B YoY+62.9%	1.26B YoY-21.0%	1.60B YoY-6.4%	1.71B YoY-47.4%
Current lease liability	199M YoY+13.1%	176M YoY-0.6%	177M YoY-2.2%	181M YoY-15.8%	215M YoY-9.3%
Other current liabilities	4.85B YoY+23.6%	3.93B YoY-5.5%	4.16B YoY+1.8%	4.08B YoY+4.7%	3.90B YoY-10.0%
	47.1B YoY+15.8%	40.7B YoY+2.4%	39.7B YoY+3.8%	38.3B YoY+5.8%	36.2B YoY-6.4%
Long-term debt	20.7B YoY+34.8%	15.3B YoY+14.5%	13.4B YoY+9.8%	12.2B YoY+7.6%	11.3B YoY-6.7%
Deferred revenue (non-current)	1.28B YoY+16.9%	1.10B YoY+4.7%	1.05B YoY+14.9%	913M YoY+20.3%	759M YoY+42.7%
Non-current lease liability	667M YoY+10.1%	606M YoY+5.9%	572M YoY+5.9%	540M YoY-12.6%	618M YoY-7.6%
Deferred tax liabilities	5.56B YoY-1.8%	5.66B YoY-1.6%	5.75B YoY-2.3%	5.89B YoY-5.7%	6.24B YoY-6.9%
Other non-current liabilities	11.2B YoY+178.8%	4.01B YoY+5.5%	3.80B YoY+36.1%	2.79B YoY-33.3%	4.19B YoY-24.1%
	38.2B YoY+0.4%	38.1B YoY-4.1%	39.7B YoY-0.8%	40.0B YoY-9.1%	44.0B YoY-6.9%
Common stock	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M YoY+0.0%	1.00M YoY+0.0%
Additional paid-in capital	39.4B YoY-0.4%	39.6B YoY-0.5%	39.8B YoY-0.5%	40.0B YoY-0.4%	40.2B YoY-0.1%
Retained earnings	16.6B YoY+31.5%	12.6B YoY+42.8%	8.85B YoY-56.9%	20.5B YoY+9.8%	18.7B YoY+8.9%
Treasury stock	11.6B YoY+59.4%	7.25B YoY+131.5%	3.13B YoY-78.7%	14.7B YoY+50.3%	9.81B YoY+82.5%
Accumulated other comprehensive income	-6.23B YoY+9.6%	-6.89B YoY-18.8%	-5.80B YoY-0.4%	-5.78B YoY-14.5%	-5.05B YoY-7.6%
Non-controlling interest	1.48B YoY+7.2%	1.38B YoY+1.5%	1.36B YoY+1.2%	1.35B YoY-3.4%	1.39B YoY-38.1%
Total equity incl. non-controlling	39.7B YoY+0.6%	39.5B YoY-3.9%	41.1B YoY-0.7%	41.4B YoY-8.9%	45.4B YoY-8.4%
Total liabilities & equity	86.8B YoY+8.3%	80.1B YoY-0.8%	80.8B YoY+1.4%	79.7B YoY-2.4%	81.6B YoY-7.5%
Common shares issued	491M YoY+0.0%	491M YoY+0.0%	491M YoY-11.1%	552M YoY+0.0%	552M YoY+0.0%
Common shares outstanding	509M YoY+0.0%	509M YoY+0.0%	509M YoY+0.0%	509M YoY+0.0%	509M YoY-2.8%
Shares outstanding (cover)	467M YoY-1.9%	476M YoY-1.8%	485M YoY-1.9%	494M YoY-3.5%	513M YoY-2.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	10.3B YoY+9.8%	9.42B YoY+1.3%	9.30B YoY+5.0%	8.86B YoY-8.9%	9.72B YoY+30.9%
Depreciation & amortization	3.76B YoY-0.4%	3.78B YoY-0.9%	3.82B YoY-9.2%	4.20B YoY-9.3%	4.63B YoY+0.2%
Share-based compensation	—	—	—	107M YoY-16.4%	128M YoY-3.8%
Deferred income taxes	-465M YoY-227.5%	-142M YoY-69.0%	-84.0M YoY+78.1%	-383M YoY-50.8%	-254M YoY+31.0%
Change in receivables	122M YoY-23.8%	160M YoY+86.0%	86.0M YoY-79.7%	423M YoY-23.5%	553M YoY+3010.5%
Change in inventory	-47.0M YoY+16.1%	-56.0M YoY-144.1%	127M YoY-63.4%	347M YoY+169.0%	129M YoY+816.7%
	-5.72B YoY-23.2%	-4.64B YoY+0.6%	-4.67B YoY-51.2%	-3.09B YoY-2.7%	-3.01B YoY-0.7%
Capital expenditure	5.26B YoY+17.0%	4.50B YoY+18.7%	3.79B YoY+19.4%	3.17B YoY+2.8%	3.09B YoY-9.2%
Acquisitions	412M YoY+30.0%	317M YoY-66.7%	953M YoY+766.4%	110M YoY+25.0%	88.0M YoY+29.4%
Other investing activities	90.0M	0.00	0.00	—	—
	-4.55B YoY-4.5%	-4.36B YoY+19.3%	-5.40B YoY-74.8%	-3.09B YoY+59.3%	-7.59B YoY-126.8%
Long-term debt issued	5.15B YoY+6.3%	4.84B YoY+121.4%	2.19B YoY-31.8%	3.21B YoY+40.6%	2.28B YoY-18.3%
Long-term debt repaid	2.28B YoY+74.6%	1.30B YoY-22.4%	1.68B YoY-5.8%	1.78B YoY+21.6%	1.47B YoY-45.2%
Net short-term debt	41.0M YoY+111.0%	-372M YoY-167.1%	554M YoY-81.8%	3.05B YoY+329.5%	-1.33B YoY-210.9%
Common stock issued	23.0M YoY-25.8%	31.0M YoY-6.1%	33.0M YoY-8.3%	36.0M YoY-28.0%	50.0M YoY+6.4%
Common stock repurchased	4.60B YoY+2.7%	4.48B YoY+13.2%	3.96B YoY-23.4%	5.17B YoY+12.1%	4.61B YoY+87.7%
Dividends paid	2.81B YoY+5.9%	2.65B YoY+7.0%	2.48B YoY+5.9%	2.34B YoY+7.1%	2.19B YoY+7.9%
Other financing activities	-76.0M YoY+81.9%	-420M YoY-692.5%	-53.0M YoY+39.8%	-88.0M YoY+72.8%	-323M YoY-46.8%
FX effect on cash	131M YoY+156.0%	-234M YoY-3242.9%	-7.00M YoY+90.5%	-74.0M YoY-21.3%	-61.0M YoY-38.6%
Net change in cash	206M YoY+10.8%	186M YoY+124.1%	-772M YoY-129.5%	2.61B YoY+380.7%	-931M YoY-188.3%
Interest paid	548M YoY+23.7%	443M YoY-1.8%	451M YoY+165.3%	170M YoY-27.0%	233M YoY-27.6%
Income taxes paid	2.27B YoY+2.6%	2.22B YoY+13.4%	1.96B YoY+12.7%	1.74B YoY+1.5%	1.71B YoY+60.4%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	199B YoY-0.1%	199B YoY+0.1%	199B YoY+23.5%	161B YoY-9.2%	178B YoY+28.4%
P/E	28.9× YoY-4.9%	30.4× YoY-8.8%	33.3× YoY-20.6%	41.9× YoY-9.6%	46.4× YoY-16.1%
P/S	5.9× YoY-3.0%	6.0× YoY-1.6%	6.1× YoY+28.5%	4.8× YoY-17.2%	5.8× YoY+13.6%
P/B	5.2× YoY-0.5%	5.2× YoY+2.2%	5.1× YoY+19.5%	4.3× YoY+6.3%	4.0× YoY+38.0%
P/FCF	39.1× YoY-3.3%	40.5× YoY+3.7%	39.0× YoY+67.7%	23.3× YoY-12.9%	26.7× YoY-22.1%
Earnings yield	3.5% YoY+5.2%	3.3% YoY+9.6%	3.0% YoY+26.0%	2.4% YoY+10.7%	2.2% YoY+19.2%
FCF yield	2.6% YoY+3.4%	2.5% YoY-3.5%	2.6% YoY-40.4%	4.3% YoY+14.9%	3.7% YoY+28.3%
Dividend yield	1.4% YoY+6.0%	1.3% YoY+6.9%	1.2% YoY-13.5%	1.4% YoY+17.2%	1.2% YoY-16.3%
Source filing	10-K	DEF 14A	10-K	10-K	10-K

About this data

Source: LIN's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all LIN filings on SEC EDGAR → Not investment advice.

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