Company Valuation: Linde plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 176,328 160,663 199,149 199,353 199,102 218,657 - -
Change - -8.88% 23.95% 0.1% -0.13% 9.82% - -
Enterprise Value (EV) 1 187,712 173,141 213,858 216,126 221,035 241,835 242,093 242,101
Change - -7.76% 23.52% 1.06% 2.27% 9.41% 0.11% 0%
P/E 47.3x 39.6x 32.6x 30.7x 29.2x 28.7x 25.9x 23.5x
PBR 4x 4.07x 5.09x 5.3x 5.26x 5.56x 5.36x 5.15x
PEG - 3.2x 0.6x 3.75x 4.02x 2.2x 2.4x 2.2x
Capitalization / Revenue 5.73x 4.82x 6.06x 6.04x 5.86x 6.02x 5.75x 5.44x
EV / Revenue 6.1x 5.19x 6.51x 6.55x 6.5x 6.66x 6.36x 6.03x
EV / EBITDA 18.4x 15.9x 17.6x 16.9x 16.6x 17x 15.9x 14.9x
EV / EBIT 26.2x 21.9x 23.6x 22.2x 21.8x 22.4x 20.8x 19.2x
EV / FCF 28.3x 30.4x 38.8x 43.9x 43.4x 42.9x 35.8x 32.6x
FCF Yield 3.54% 3.29% 2.58% 2.28% 2.3% 2.33% 2.79% 3.06%
Dividend per Share 2 4.24 4.68 5.1 5.56 6 6.436 6.949 7.493
Rate of return 1.22% 1.43% 1.24% 1.33% 1.41% 1.36% 1.47% 1.58%
EPS 2 7.33 8.23 12.59 13.62 14.61 16.52 18.29 20.21
Distribution rate 57.8% 56.9% 40.5% 40.8% 41.1% 38.9% 38% 37.1%
Net sales 1 30,793 33,364 32,854 33,005 33,986 36,297 38,041 40,160
EBITDA 1 10,179 10,873 12,133 12,819 13,351 14,221 15,229 16,283
EBIT 1 7,176 7,900 9,070 9,720 10,137 10,797 11,646 12,613
Net income 1 3,826 4,147 6,199 6,565 6,898 7,707 8,355 9,071
Net Debt 1 11,384 12,478 14,709 16,773 21,933 23,178 23,436 23,444
Reference price 2 346.43 326.18 410.71 418.67 426.39 474.33 474.33 474.33
Nbr of stocks (in thousands) 508,987 492,561 484,890 476,158 466,949 460,980 - -
Announcement Date 2/10/22 2/7/23 2/6/24 2/6/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.71x6.66x17.01x1.36% 219B
88.8x6.58x15.3x2.4% 67B
216.86x - - - 24.35B
18.73x2.3x9.21x1.1% 16.52B
110.59x18.49x53.71x0.29% 8.12B
92.73x - - - 6.27B
95.54x19.45x57.16x0.21% 6.02B
26.63x2.79x10.85x0.92% 5.68B
13.34x0.84x6.84x2.77% 3.67B
Average 76.88x 8.16x 24.30x 1.29% 39.59B
Weighted average by Cap. 56.33x 6.82x 17.69x 1.52%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield