Company Valuation: Linde plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 176,328 160,663 199,149 199,353 199,102 214,314 - -
Change - -8.88% 23.95% 0.1% -0.13% 7.64% - -
Enterprise Value (EV) 1 187,712 173,141 213,858 216,126 221,035 237,499 237,592 237,414
Change - -7.76% 23.52% 1.06% 2.27% 7.45% 0.04% -0.07%
P/E 47.3x 39.6x 32.6x 30.7x 29.2x 28.4x 25.6x 23.2x
PBR 4x 4.07x 5.09x 5.3x 5.26x 5.46x 5.25x 4.99x
PEG - 3.2x 0.6x 3.75x 4.02x 2.3x 2.4x 2.2x
Capitalization / Revenue 5.73x 4.82x 6.06x 6.04x 5.86x 5.9x 5.62x 5.32x
EV / Revenue 6.1x 5.19x 6.51x 6.55x 6.5x 6.54x 6.23x 5.89x
EV / EBITDA 18.4x 15.9x 17.6x 16.9x 16.6x 16.7x 15.6x 14.6x
EV / EBIT 26.2x 21.9x 23.6x 22.2x 21.8x 22x 20.4x 18.7x
EV / FCF 28.3x 30.4x 38.8x 43.9x 43.4x 42.1x 35x 32x
FCF Yield 3.54% 3.29% 2.58% 2.28% 2.3% 2.38% 2.86% 3.12%
Dividend per Share 2 4.24 4.68 5.1 5.56 6 6.437 6.917 7.416
Rate of return 1.22% 1.43% 1.24% 1.33% 1.41% 1.38% 1.49% 1.6%
EPS 2 7.33 8.23 12.59 13.62 14.61 16.38 18.15 20.07
Distribution rate 57.8% 56.9% 40.5% 40.8% 41.1% 39.3% 38.1% 36.9%
Net sales 1 30,793 33,364 32,854 33,005 33,986 36,333 38,107 40,296
EBITDA 1 10,179 10,873 12,133 12,819 13,351 14,213 15,207 16,262
EBIT 1 7,176 7,900 9,070 9,720 10,137 10,811 11,665 12,674
Net income 1 3,826 4,147 6,199 6,565 6,898 7,657 8,307 9,024
Net Debt 1 11,384 12,478 14,709 16,773 21,933 23,185 23,278 23,100
Reference price 2 346.43 326.18 410.71 418.67 426.39 464.91 464.91 464.91
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.94x6.44x16.47x1.41% 211B
82.48x6.21x14.45x2.59% 62.23B
166.45x - - - 18.82B
16.91x2.11x8.5x1.21% 15.09B
88.55x15.03x43.74x0.33% 6.55B
84.27x - - - 5.74B
27.22x2.84x10.92x0.9% 5.68B
88.8x18.06x53.08x0.22% 5.58B
13.79x0.9x7.26x2.39% 4.3B
Average 66.27x 7.37x 22.06x 1.29% 37.21B
Weighted average by Cap. 48.33x 6.43x 16.68x 1.59%

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

-40%: Exceptional extension
d
:
:
SEIZE THE OFFER!