Company Valuation: Linde plc

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 176,328 160,663 199,149 199,353 199,102 238,899 - -
Change - -8.88% 23.95% 0.1% -0.13% 19.99% - -
Enterprise Value (EV) 1 187,712 173,141 213,858 216,126 221,035 261,718 262,347 262,418
Change - -7.76% 23.52% 1.06% 2.27% 18.41% 0.24% 0.03%
P/E 47.3x 39.6x 32.6x 30.7x 29.2x 31.4x 28.2x 25.4x
PBR 4x 4.07x 5.09x 5.3x 5.26x 6.11x 5.9x 5.67x
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 6.65x 6.32x 5.96x
EV / Revenue 6.1x 5.19x 6.51x 6.55x 6.5x 7.29x 6.94x 6.55x
EV / EBITDA 18.4x 15.9x 17.6x 16.9x 16.6x 18.5x 17.3x 16.1x
EV / EBIT 26.2x 21.9x 23.6x 22.2x 21.8x 24.2x 22.4x 20.7x
EV / FCF 28.3x 30.4x 38.8x 43.9x 43.4x 43.2x 38.4x 34.8x
FCF Yield 3.54% 3.29% 2.58% 2.28% 2.3% 2.31% 2.6% 2.87%
Dividend per Share 2 4.24 4.68 5.1 5.56 6 6.441 6.954 7.508
Rate of return 1.22% 1.43% 1.24% 1.33% 1.41% 1.25% 1.35% 1.45%
EPS 2 7.33 8.23 12.59 13.62 14.61 16.44 18.31 20.37
Distribution rate 57.8% 56.9% 40.5% 40.8% 41.1% 39.2% 38% 36.9%
Net sales 1 30,793 33,364 32,854 33,005 33,986 35,922 37,779 40,057
EBITDA 1 10,179 10,873 12,133 12,819 13,351 14,170 15,147 16,298
EBIT 1 7,176 7,900 9,070 9,720 10,137 10,814 11,693 12,685
Net income 1 3,826 4,147 6,199 6,565 6,898 7,642 8,308 9,045
Net Debt 1 11,384 12,478 14,709 16,773 21,933 22,818 23,448 23,519
Reference price 2 346.43 326.18 410.71 418.67 426.39 516.71 516.71 516.71
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.($)
21.37x6.21x14.65x2.58% 62.4B
300.83x - - - 28.47B
17.85x2.17x8.8x1.18% 14.93B
113.47x24.23x67.26x0.2% 6.76B
98.33x - - - 6.63B
103.94x15.03x45.03x0.34% 6.51B
29.78x3.1x12.03x0.82% 6.29B
22.05x1.77x9.88x1.52% 3.76B
10.54x0.83x7.4x3.04% 3.51B
Average 79.80x 7.62x 23.58x 1.38% 15.47B
Weighted average by Cap. 90.24x 6.82x 18.55x 1.96%

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
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