Company Valuation: Linde plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 176,328 160,663 199,149 199,353 199,102 235,182 - -
Change - -8.88% 23.95% 0.1% -0.13% 18.12% - -
Enterprise Value (EV) 1 187,712 173,141 213,858 216,126 221,035 258,025 258,600 258,655
Change - -7.76% 23.52% 1.06% 2.27% 16.73% 0.22% 0.02%
P/E 47.3x 39.6x 32.6x 30.7x 29.2x 30.9x 27.8x 24.9x
PBR 4x 4.07x 5.09x 5.3x 5.26x 6.02x 5.8x 5.56x
PEG - 3.2x 0.6x 3.75x 4.02x 2.5x 2.5x 2.2x
Capitalization / Revenue 5.73x 4.82x 6.06x 6.04x 5.86x 6.54x 6.22x 5.87x
EV / Revenue 6.1x 5.19x 6.51x 6.55x 6.5x 7.18x 6.84x 6.46x
EV / EBITDA 18.4x 15.9x 17.6x 16.9x 16.6x 18.2x 17.1x 15.9x
EV / EBIT 26.2x 21.9x 23.6x 22.2x 21.8x 23.9x 22.1x 20.4x
EV / FCF 28.3x 30.4x 38.8x 43.9x 43.4x 43.3x 38.2x 34.7x
FCF Yield 3.54% 3.29% 2.58% 2.28% 2.3% 2.31% 2.62% 2.88%
Dividend per Share 2 4.24 4.68 5.1 5.56 6 6.424 6.927 7.468
Rate of return 1.22% 1.43% 1.24% 1.33% 1.41% 1.26% 1.36% 1.47%
EPS 2 7.33 8.23 12.59 13.62 14.61 16.44 18.31 20.4
Distribution rate 57.8% 56.9% 40.5% 40.8% 41.1% 39.1% 37.8% 36.6%
Net sales 1 30,793 33,364 32,854 33,005 33,986 35,946 37,784 40,037
EBITDA 1 10,179 10,873 12,133 12,819 13,351 14,177 15,165 16,304
EBIT 1 7,176 7,900 9,070 9,720 10,137 10,813 11,699 12,685
Net income 1 3,826 4,147 6,199 6,565 6,898 7,642 8,308 9,057
Net Debt 1 11,384 12,478 14,709 16,773 21,933 22,843 23,418 23,473
Reference price 2 346.43 326.18 410.71 418.67 426.39 508.67 508.67 508.67
Nbr of stocks (in thousands) 508,987 492,561 484,890 476,158 466,949 462,347 - -
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.58x6.51x15.36x2.43% 66.14B
173.55x - - - 16.42B
19.02x2.3x9.28x1.1% 15.84B
106.38x16.35x47.49x0.33% 7.12B
30.52x3.17x12.3x0.8% 6.42B
96.62x19.85x57.24x0.18% 6.05B
83.88x - - - 5.65B
10.92x0.85x7.55x2.93% 3.59B
19.31x1.61x8.83x1.85% 3.29B
Average 62.53x 7.23x 22.58x 1.38% 14.5B
Weighted average by Cap. 51.78x 6.75x 18.28x 1.88%

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