Company Valuation: Linde plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 176,328 160,663 199,149 199,353 199,102 224,760 - -
Change - -8.88% 23.95% 0.1% -0.13% 12.89% - -
Enterprise Value (EV) 1 187,712 173,141 213,858 216,126 221,035 247,843 248,122 248,050
Change - -7.76% 23.52% 1.06% 2.27% 12.13% 0.11% -0.03%
P/E 47.3x 39.6x 32.6x 30.7x 29.2x 29.6x 26.7x 24.3x
PBR 4x 4.07x 5.09x 5.3x 5.26x 5.72x 5.51x 5.3x
PEG - 3.2x 0.6x 3.75x 4.02x 2.3x 2.5x 2.46x
Capitalization / Revenue 5.73x 4.82x 6.06x 6.04x 5.86x 6.19x 5.91x 5.59x
EV / Revenue 6.1x 5.19x 6.51x 6.55x 6.5x 6.83x 6.52x 6.17x
EV / EBITDA 18.4x 15.9x 17.6x 16.9x 16.6x 17.4x 16.3x 15.2x
EV / EBIT 26.2x 21.9x 23.6x 22.2x 21.8x 22.9x 21.3x 19.6x
EV / FCF 28.3x 30.4x 38.8x 43.9x 43.4x 43.8x 36.4x 32.9x
FCF Yield 3.54% 3.29% 2.58% 2.28% 2.3% 2.28% 2.74% 3.04%
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% 1.32% 1.43% 1.54%
EPS 2 7.33 8.23 12.59 13.62 14.61 16.48 18.26 20.06
Distribution rate 57.8% 56.9% 40.5% 40.8% 41.1% 39% 38.1% 37.3%
Net sales 1 30,793 33,364 32,854 33,005 33,986 36,304 38,051 40,172
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 10,800 11,663 12,653
Net income 1 3,826 4,147 6,199 6,565 6,898 7,650 8,318 9,060
Net Debt 1 11,384 12,478 14,709 16,773 21,933 23,083 23,362 23,290
Reference price 2 346.43 326.18 410.71 418.67 426.39 487.57 487.57 487.57
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.($)
29.58x6.83x17.43x1.32% 225B
90.05x6.65x15.47x2.37% 67.94B
183.98x - - - 20.72B
17.33x2.16x8.67x1.18% 15.33B
99.35x16.66x48.4x0.33% 7.31B
94.53x19.24x56.55x0.21% 5.95B
86.14x - - - 5.84B
25.99x2.73x10.61x0.94% 5.59B
13.07x0.83x6.75x2.83% 3.6B
19.56x1.64x8.96x1.82% 3.37B
Average 65.96x 7.09x 21.60x 1.37% 36.04B
Weighted average by Cap. 52.43x 6.83x 17.69x 1.5%

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