Company Valuation: Linde plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 176,328 160,663 199,149 199,353 199,102 221,483 - -
Change - -8.88% 23.95% 0.1% -0.13% 11.24% - -
Enterprise Value (EV) 1 187,712 173,141 213,858 216,126 221,035 244,430 244,755 244,424
Change - -7.76% 23.52% 1.06% 2.27% 10.58% 0.13% -0.14%
P/E 47.3x 39.6x 32.6x 30.7x 29.2x 29x 26.1x 23.5x
PBR 4x 4.07x 5.09x 5.3x 5.26x 5.65x 5.44x 5.21x
PEG - 3.2x 0.6x 3.75x 4.02x 2.1x 2.4x 2.1x
Capitalization / Revenue 5.73x 4.82x 6.06x 6.04x 5.86x 6.11x 5.83x 5.52x
EV / Revenue 6.1x 5.19x 6.51x 6.55x 6.5x 6.74x 6.45x 6.09x
EV / EBITDA 18.4x 15.9x 17.6x 16.9x 16.6x 17.2x 16.1x 15x
EV / EBIT 26.2x 21.9x 23.6x 22.2x 21.8x 22.6x 20.9x 19.3x
EV / FCF 28.3x 30.4x 38.8x 43.9x 43.4x 42.1x 36.3x 33.1x
FCF Yield 3.54% 3.29% 2.58% 2.28% 2.3% 2.38% 2.76% 3.02%
Dividend per Share 2 4.24 4.68 5.1 5.56 6 6.453 6.949 7.493
Rate of return 1.22% 1.43% 1.24% 1.33% 1.41% 1.34% 1.45% 1.56%
EPS 2 7.33 8.23 12.59 13.62 14.61 16.59 18.4 20.42
Distribution rate 57.8% 56.9% 40.5% 40.8% 41.1% 38.9% 37.8% 36.7%
Net sales 1 30,793 33,364 32,854 33,005 33,986 36,270 37,976 40,138
EBITDA 1 10,179 10,873 12,133 12,819 13,351 14,210 15,197 16,265
EBIT 1 7,176 7,900 9,070 9,720 10,137 10,818 11,701 12,694
Net income 1 3,826 4,147 6,199 6,565 6,898 7,779 8,366 9,108
Net Debt 1 11,384 12,478 14,709 16,773 21,933 22,948 23,273 22,941
Reference price 2 346.43 326.18 410.71 418.67 426.39 480.46 480.46 480.46
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.($)
86.46x6.44x15.01x2.47% 65.23B
173.42x - - - 19.43B
17.56x2.18x8.67x1.18% 15.62B
77.89x13.17x38.26x0.42% 5.71B
98.59x20.26x58.42x0.17% 6.25B
27.91x2.92x11.33x0.87% 5.92B
70.65x - - - 4.77B
10.81x0.85x7.51x2.96% 3.7B
19.65x1.64x9x1.81% 3.37B
Average 64.77x 6.78x 21.17x 1.41% 14.44B
Weighted average by Cap. 84.25x 6.44x 17.23x 1.94%

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