| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 28 | 30.1x | 17.8x | Bottom tier | |
Growth | 32 | 6.6% | 7.1% | Bottom tier | |
Quality | 68 | 10.9% | 4.5% | Top tier | |
Safety | 73 | 1.8x | 2.6x | Top tier | |
Capital Return | 44 | 1.33% | 2.12% | Around median | |
Momentum | 49 | 3.8% | 2.9% | Around median | |
Sentiment | 95 | 15 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Linde plc is the world’s largest industrial gases company according to the data provided, and generates revenue from gas sales under supply contracts, on-site customer gas projects, and equipment and plant sales, in addition to equipment and hardgoods in the packaged gases business. The company targets the electronics and semiconductors, healthcare, food and beverage, manufacturing, aerospace, metals and mining, and chemicals and energy sectors. Long-term contracts and the project backlog support future gas sales, while lower-margin equipment and hardgoods sales may temporarily pressure the profitability mix.
In Q2 of fiscal year 2026, revenue reached $9.3 billion, up 9% year over year and 6% sequentially, and net income according to EDGAR filings was approximately $1.9 billion, with earnings per share of $4.15. Meanwhile, adjusted earnings per share as presented by management reached $4.50, representing 10% year-over-year growth. Operating margin reached 29.5%, down 60 basis points year over year, or 30 basis points excluding cost pass-through, while the reported net profit margin was 20.43%.
Underlying net sales grew 4% year over year, split evenly between volume growth and pricing, with additional contributions of 2% from currency, 1% from acquisitions, 1% from engineering, and 1% from cost pass-through. Electronics was the fastest-growing end market, rising 18% year over year, supported by new projects and demand for AI-related hardware, while aerospace and data center-related construction led the improvement in manufacturing. For fiscal year 2025, Linde recorded revenue of $34.0 billion and net income of $6.9 billion, after which the trailing twelve-month figures within fiscal year 2026 rose to revenue of $35.4 billion and net income of $7.2 billion.
Analyst consensus on LIN shares is “Buy,” with an average price target of $566.25, a high of $612, and a low of $525; the average is approximately 3.3% above the top of the 52-week range of $548.20. The $87 spread between targets reflects differing assessments of the impact of the record project backlog versus Lincare pressure and helium disruptions, and the data do not provide a price-to-earnings ratio that can be used to confirm whether the valuation is low or high on an earnings basis.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Revenue reached $9.3 billion, up 9% year over year and 6% sequentially, while net income according to EDGAR was approximately $1.9 billion. Earnings per share according to EDGAR were $4.15, while management presented adjusted earnings per share of $4.50, up 10% year over year. Operating margin reached 29.5%, down 60 basis points year over year, or 30 basis points after excluding cost pass-through.
On July 31, 2026, Linde announced a $1 billion investment to expand its existing complex in Phoenix, Arizona. The investment is linked to a long-term agreement to supply high-purity industrial gases to one of the world’s largest semiconductor manufacturers, and the win added $1 billion to the gas sales project backlog. The project supports advanced-node facilities in the western United States, at a time when Linde’s electronics end market grew 18% year over year in Q2 of fiscal year 2026.
The company raised the low end of its fiscal year 2026 earnings-per-share guidance by $0.10 to a range of $17.70 to $17.90. This equates to growth of between 8% and 9% after excluding an assumed positive currency impact of 1%. Fiscal year 2026 Q3 guidance ranges from $4.45 to $4.55, representing year-over-year growth of between 6% and 8%, and the midpoint of the range assumes no economic improvement.
Automated analysis for informational purposes only — not investment advice.
The gas sales project backlog reached a record $8.1 billion in Q2 of fiscal year 2026, after the addition of a $1 billion U.S. electronics win. Management expects to start up more than 20 projects with investments of approximately $1.3 billion during the remainder of the year, while keeping the backlog in the 8 range at year-end. Projects typically take two to three years to execute, and the company targets a double-digit unlevered after-tax internal rate of return for them before their contribution gradually rises as capacity utilization increases.
Lincare faced labor cost inflation and changes in the reimbursement environment, making it the largest source of pressure on the Americas segment margin during Q2 of fiscal year 2026. Management explained that the Americas margin, excluding Lincare and cost pass-through, would have increased by 20 basis points, and that the impact of the business was approximately $39 million according to the clarification provided in the questions and answers. Linde is implementing operational and productivity measures and continuing to prune the portfolio, while also evaluating the strategic fit of the business in part and in full without announcing a final decision.
Linde maintained supply to its contracted customers and signed long-term contracts with new customers, benefiting from the diversity of its sources and logistics capabilities. Helium pricing improved, but supply rerouting costs reduced its margin impact in Q2 of fiscal year 2026. Some Asian economies dependent on Middle Eastern hydrocarbons also reduced industrial activity, and management said the return of the helium market to a more normal state could extend into the first part of 2027.
