Company Valuation: Linde plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 176,328 160,663 199,149 199,353 199,102 242,298 - -
Change - -8.88% 23.95% 0.1% -0.13% 21.7% - -
Enterprise Value (EV) 1 187,712 173,141 213,858 216,126 221,035 265,142 265,729 265,784
Change - -7.76% 23.52% 1.06% 2.27% 19.95% 0.22% 0.02%
P/E 47.3x 39.6x 32.6x 30.7x 29.2x 31.9x 28.6x 25.7x
PBR 4x 4.07x 5.09x 5.3x 5.26x 6.2x 5.98x 5.73x
PEG - 3.2x 0.6x 3.75x 4.02x 2.5x 2.5x 2.3x
Capitalization / Revenue 5.73x 4.82x 6.06x 6.04x 5.86x 6.62x 6.42x 6.05x
EV / Revenue 6.1x 5.19x 6.51x 6.55x 6.5x 7.24x 7.04x 6.64x
EV / EBITDA 18.4x 15.9x 17.6x 16.9x 16.6x 18.7x 17.6x 16.3x
EV / EBIT 26.2x 21.9x 23.6x 22.2x 21.8x 24.5x 22.7x 20.9x
EV / FCF 28.3x 30.4x 38.8x 43.9x 43.4x 44.5x 39.3x 35.7x
FCF Yield 3.54% 3.29% 2.58% 2.28% 2.3% 2.25% 2.55% 2.8%
Dividend per Share 2 4.24 4.68 5.1 5.56 6 6.424 6.928 7.468
Rate of return 1.22% 1.43% 1.24% 1.33% 1.41% 1.23% 1.32% 1.42%
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 36,600 37,750 40,040
EBITDA 1 10,179 10,873 12,133 12,819 13,351 14,166 15,138 16,304
EBIT 1 7,176 7,900 9,070 9,720 10,137 10,807 11,684 12,688
Net income 1 3,826 4,147 6,199 6,565 6,898 7,643 8,311 9,057
Net Debt 1 11,384 12,478 14,709 16,773 21,933 22,844 23,432 23,487
Reference price 2 346.43 326.18 410.71 418.67 426.39 524.06 524.06 524.06
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
22.85x6.55x15.46x2.41% 66.7B
242.97x - - - 22.95B
19.35x2.33x9.4x1.08% 16.27B
135.64x19.47x58.31x0.26% 8.48B
112.53x - - - 7.57B
106.88x22.81x63.34x0.21% 6.3B
29.58x3.08x11.95x0.83% 6.23B
22.04x1.8x9.85x1.62% 3.75B
10.9x0.85x7.54x2.94% 3.63B
Average 78.08x 8.13x 25.12x 1.34% 15.76B
Weighted average by Cap. 73.28x 7.30x 19.90x 1.83%

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