Linde Plc.
LIN
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+ FollowMarket Cap$223.77B
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Earnings Call Q2 2026
July 31, 2026 - AI Summary
Strong Q2 performance + record backlog (good): Linde reported Q2 sales of $9.3B (+9% YoY, +6% QoQ) and EPS of $4.50 (+10% YoY). Management highlighted near double-digit growth in both sales and EPS, plus an increase in sale-of-gas backlog by $1B to a record $8.1B. Electronics added a new US electronics win to support advanced-node fab expansion.
Margin disappointment (bad): Operating margins fell—down ~60 bps YoY, or ~30 bps excluding cost pass-through. The key culprit is Americas, especially US healthcare (Lincare) headwinds; management also noted dilution from higher US hardgoods sales (seen as a *potentially positive* sign of manufacturing recovery) and APAC margin erosion tied to lower-margin electronics equipment sales. Management is not satisfied with margins, but expects sequential improvement into Q3 as actions take effect.
Guidance modestly raised at the low end, but assumptions unchanged (surprising/neutral):
- Q3 EPS guidance: $4.45–$4.55 (+6% to +8% YoY), assuming no FX impact vs prior year and ~1% FX headwind sequentially.
- Full-year EPS guidance: $17.70–$17.90 (+8% to +9% YoY excluding a 1% FX tailwind assumption). Raised the bottom end by $0.10, while top unchanged—management said they’re not yet building in stronger base volume trends; the back-half volume assumption remains the same.
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$241.93
50.9% downside
Current Fair Value
50.9% downsideOvervalued by 50.9% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $223.77 Billion |
|---|---|
| Enterprise Value | $244.41 Billion |
| Dividend Yield | $6.30 (1.30%) |
| Earnings per Share | $14.67 |
| Beta | 0.71 |
| Outstanding Shares | 462,525,000 |
Return
| Return on Equity | 18.65% |
|---|---|
| Return on Assets | 8.25% |
| Return on Invested Capital | 13.21% |
Valuation & Multiples
| P/E Ratio | 31.09 |
|---|---|
| PEG | 338.9 |
| Price to Sales | 6.48 |
| Price to Book Ratio | 5.66 |
| Enterprise Value to Revenue | 6.89 |
| Enterprise Value to EBIT | 25.61 |
| Enterprise Value to Net Income | 33 |
| Total Debt to Enterprise | 0.1 |
| Debt to Equity | 0.65 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
August 7, 2026
EPS Estimate
$4.48
Average shareholder expectationRevenue Estimate
$9.00 B
Average shareholder expectationNext Earnings Call
Expected Date
October 29, 2026
EPS Estimate
$4.52
Average shareholder expectationRevenue Estimate
$9.16 B
Average shareholder expectationInstitutional Put/Call Ratio
Market sentiment based on institutional option activity.
| Put/Call Ratio | 0.0000▼ 207.09% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 0.19%▼ 85.40% |
|---|---|
| Total Invested | $424.99M▼ 99.79% |
| Investors Holding | 106▼ 2282.00% |
ESG Score
No data
About Linde Plc
65,010 employees
CEO: Stephen Angel Linde plc is a global industrial gas and engineering firm with extensive operations across North and South America, Europe, the Middle East, Africa, and the Asia Pacific region. The company provides a broad range of gases, including atmo...