Linde Plc (LIN) financial statements: income statement, balance sheet and cash flow

Linde Plc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Linde Plc reported revenue of $34.0B (+3.0% year on year) and net income of $6.9B (+5.1% year on year).

Income statement

Linde Plc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Sales	$34.0B	$33.0B	$32.9B	$33.4B
Cost of sales, exclusive of depreciation and amortization	$17.4B	$17.1B	$17.5B	$19.4B
Selling, general and administrative	$3.4B	$3.3B	$3.3B	$3.1B
Depreciation and amortization	$3.8B	$3.8B	$3.8B	$4.2B
Research and development	$147.0M	$150.0M	$146.0M	$143.0M
Cost reduction program and other charges	$273.0M	$145.0M	$40.0M	$1.0B
Other income (expense) - net	($58.0M)	$185.0M	($41.0M)	($62.0M)
Operating Profit	$8.9B	$8.6B	$8.0B	$5.4B
Interest expense - net	$255.0M	$256.0M	$200.0M	$63.0M
Net pension and OPEB cost (benefit), excluding service cost	($229.0M)	($190.0M)	($164.0M)	($237.0M)
Income Before Income Taxes and Equity Investments	$8.9B	$8.6B	$8.0B	$5.5B
Income taxes	$2.0B	$2.0B	$1.8B	$1.4B
Income Before Equity Investments	$6.9B	$6.6B	$6.2B	$4.1B
Income from equity investments	$150.0M	$170.0M	$167.0M	$172.0M
Net Income (Including Noncontrolling Interests)	$7.1B	$6.7B	$6.3B	$4.3B
Add: Noncontrolling interests	$160.0M	($172.0M)	—	—
Net Income – Linde plc	$6.9B	$6.6B	$6.2B	$4.1B
Basic earnings per share (in dollars per share)	$14.69	$13.71	$12.70	$8.30
Diluted earnings per share (in dollars per share)	$14.61	$13.62	$12.59	$8.23
Basic shares outstanding (in shares)	469.5M	478.8M	488.2M	499.7M
Diluted shares outstanding (in shares)	472.2M	482.1M	492.3M	504.0M

Linde Plc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Sales	$9.3B	$8.8B	$8.6B	$8.5B
Cost of sales, exclusive of depreciation and amortization	$4.9B	$4.5B	$4.4B	$4.3B
Selling, general and administrative	$891.0M	$893.0M	$897.0M	$870.0M
Depreciation and amortization	$963.0M	$951.0M	$961.0M	$942.0M
Research and development	$37.0M	$38.0M	$36.0M	$38.0M
Cost reduction program and other charges	$0	$0	($11.0M)	$0
Other income (expense) - net	$17.0M	$63.0M	$14.0M	$15.0M
Operating Profit	$2.6B	$2.4B	$2.4B	$2.4B
Interest expense - net	$61.0M	$62.0M	$64.0M	$67.0M
Net pension and OPEB cost (benefit), excluding service cost	($53.0M)	($54.0M)	($57.0M)	($59.0M)
Income Before Income Taxes and Equity Investments	$2.5B	$2.4B	$2.4B	$2.3B
Income taxes	$610.0M	$571.0M	$424.0M	$573.0M
Income Before Equity Investments	$1.9B	$1.9B	$1.9B	$1.8B
Income from equity investments	$36.0M	$40.0M	$36.0M	$33.0M
Net Income (Including Noncontrolling Interests)	$2.0B	$1.9B	$2.0B	$1.8B
Less: noncontrolling interests	($44.0M)	($43.0M)	($43.0M)	($40.0M)
Net income - Linde plc	$1.9B	$1.9B	$1.9B	$1.8B
Basic earnings per share (in dollars per share)	$4.17	$4.00	$4.11	$3.75
Diluted earnings per share (in dollars per share)	$4.15	$3.98	$4.09	$3.73
Basic shares outstanding (in shares)	462.5M	464.1M	468.8M	470.9M
Diluted shares outstanding (in shares)	464.5M	466.3M	471.5M	473.6M

Balance sheet

Linde Plc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$5.1B	$4.8B	$4.7B	$5.4B
Accounts receivable - net	$5.0B	$4.6B	$4.7B	$4.6B
Contract assets	$269.0M	$263.0M	$196.0M	$124.0M
Inventories	$2.1B	$1.9B	$2.1B	$2.0B
Prepaid and other current assets	$979.0M	$1.3B	$927.0M	$950.0M
Total Current Assets	$13.3B	$12.9B	$12.6B	$13.0B
Property, plant and equipment - net	$28.3B	$24.8B	$24.6B	$23.5B
Equity investments	$2.0B	$2.1B	$2.2B	$2.4B
Goodwill	$27.9B	$25.9B	$26.8B	$25.8B
Other intangible assets – net	$11.9B	$11.3B	$12.4B	$12.4B
Other long-term assets	$3.4B	$3.0B	$2.3B	$2.5B
Total Assets	$86.8B	$80.1B	$80.8B	$79.7B
Accounts payable	$2.8B	$2.5B	$3.0B	$3.0B
Short-term debt	$4.5B	$4.2B	$4.7B	$4.1B
Current portion of long-term debt	$1.8B	$2.1B	$1.3B	$1.6B
Contract liabilities	$1.2B	$1.2B	$1.9B	$3.1B
Accrued taxes	$680.0M	$637.0M	$664.0M	$613.0M
Other current liabilities	$4.2B	$3.9B	$4.2B	$4.1B
Total Current Liabilities	$15.2B	$14.5B	$15.7B	$16.5B
Long-term debt	$20.7B	$15.3B	$13.4B	$12.2B
Other long-term liabilities	$4.4B	$4.0B	$3.8B	$2.8B
Deferred credits	$6.8B	$6.8B	$6.8B	$6.8B
Total Liabilities	$47.1B	$40.7B	$39.7B	$38.3B
Redeemable noncontrolling interests	$13.0M	$13.0M	$13.0M	$13.0M
Ordinary shares, €0.001 par value, authorized 1,750,000,000 shares, 2025 and 2024 issued: 490,766,972 ordinary shares	1.0M	1.0M	1.0M	1.0M
Additional paid-in capital	$39.4B	$39.6B	$39.8B	$40.0B
Retained earnings	$16.6B	$12.6B	$8.8B	$20.5B
Accumulated other comprehensive income (loss)	($6.2B)	($6.9B)	($5.8B)	($5.8B)
Less: Treasury shares, at cost (2025 – 27,086,030 shares and 2024 – 17,530,240 shares)	-11.6B	-7.3B	-3.1B	—
Total Linde plc Shareholders’ Equity	$38.2B	$38.1B	$39.7B	$40.0B
Noncontrolling interests	$1.5B	$1.4B	$1.4B	$1.3B
Total Equity	$39.7B	$39.5B	$41.1B	$41.4B
Total Liabilities and Equity	$86.8B	$80.1B	$80.8B	$79.7B

Linde Plc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$4.9B	$4.0B	$4.5B	$4.8B
Accounts receivable - net	$5.6B	$5.3B	$5.3B	$5.2B
Contract assets	$432.0M	$321.0M	$228.0M	$260.0M
Inventories	$2.1B	$2.1B	$2.1B	$2.1B
Prepaid and other current assets	$1.1B	$1.1B	$1.1B	$1.2B
Total Current Assets	$14.2B	$12.8B	$13.3B	$13.6B
Property, plant and equipment - net	$29.2B	$28.6B	$27.5B	$26.9B
Goodwill	$27.9B	$27.9B	$27.8B	$27.8B
Other intangible assets - net	$11.6B	$11.7B	$11.9B	$12.1B
Other long-term assets	$5.5B	$5.4B	$5.4B	$5.6B
Total Assets	$88.3B	$86.3B	$86.0B	$86.1B
Accounts payable	$2.8B	$2.7B	$2.6B	$2.6B
Short-term debt	$4.9B	$4.8B	$5.0B	$4.9B
Current portion of long-term debt	$2.5B	$1.6B	$2.4B	$1.3B
Contract liabilities	$1.1B	$1.2B	$1.3B	$1.3B
Other current liabilities	$4.8B	$5.1B	$4.9B	$4.6B
Total Current Liabilities	$16.1B	$15.4B	$16.2B	$14.7B
Long-term debt	$20.7B	$19.9B	$18.6B	$19.7B
Other long-term liabilities	$10.9B	$11.0B	$11.1B	$11.7B
Total Liabilities	$47.7B	$46.2B	$45.9B	$46.1B
Redeemable noncontrolling interests	$13.0M	$13.0M	$13.0M	$13.0M
Ordinary shares, €0.001 par value, authorized 1,750,000,000 shares, 2026 and 2025 issued: 490,766,972 ordinary shares	1.0M	1.0M	1.0M	1.0M
Additional paid-in capital	$39.1B	$39.2B	$39.4B	$39.4B
Retained earnings	$18.8B	$17.6B	$15.8B	$14.6B
Accumulated other comprehensive income (loss)	($5.9B)	($6.1B)	($6.4B)	($6.3B)
Less: Treasury shares, at cost (2026 – 29,786,809 shares and 2025 – 27,086,030 shares)	-12.9B	-12.1B	-10.2B	-9.2B
Total Linde plc Shareholders’ Equity	$39.1B	$38.6B	$38.6B	$38.5B
Noncontrolling interests	$1.5B	$1.5B	$1.5B	$1.5B
Total Equity	$40.6B	$40.1B	$40.1B	$40.0B
Total Liabilities and Equity	$88.3B	$86.3B	$86.0B	$86.1B

Cash flow statement

Linde Plc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net Income – Linde plc	$6.9B	$6.6B	$6.2B	$4.1B
Add: Noncontrolling interests	$160.0M	$172.0M	—	—
Net Income (Including Noncontrolling Interests)	$7.1B	$6.7B	$6.3B	$4.3B
Cost reduction program and other charges	$139.0M	$31.0M	($118.0M)	$902.0M
Depreciation and amortization	$3.8B	$3.8B	$3.8B	$4.2B
Deferred income taxes	($465.0M)	($142.0M)	($84.0M)	($383.0M)
Share-based compensation	$164.0M	$160.0M	$141.0M	$107.0M
Non-cash charges and other	$23.0M	($72.0M)	$43.0M	($49.0M)
Accounts receivable	($122.0M)	($160.0M)	($86.0M)	($423.0M)
Contract assets and liabilities, net	($72.0M)	($409.0M)	($168.0M)	$310.0M
Inventory	$47.0M	$56.0M	($127.0M)	($347.0M)
Prepaid and other current assets	$55.0M	($55.0M)	$66.0M	($157.0M)
Payables and accruals	($148.0M)	($277.0M)	($168.0M)	$307.0M
Pension contributions	($25.0M)	($35.0M)	($46.0M)	($51.0M)
Long-term assets, liabilities and other	($67.0M)	($191.0M)	($305.0M)	$163.0M
Net cash provided by operating activities	$10.3B	$9.4B	$9.3B	$8.9B
Capital expenditures	($5.3B)	($4.5B)	($3.8B)	($3.2B)
Acquisitions, net of cash acquired	($412.0M)	($317.0M)	($953.0M)	($110.0M)
Divestitures, net of cash divested and asset sales	$42.0M	$170.0M	$70.0M	$195.0M
Other investing, net	($90.0M)	—	—	—
Net cash used for investing activities	($5.7B)	($4.6B)	($4.7B)	($3.1B)
Short-term debt borrowings (repayments) – net	$41.0M	($372.0M)	$554.0M	$3.0B
Long-term debt borrowings	$5.1B	$4.8B	$2.2B	$3.2B
Long-term debt repayments	($2.3B)	($1.3B)	($1.7B)	($1.8B)
Issuances of ordinary shares	23.0M	31.0M	33.0M	36.0M
Purchases of ordinary shares	-4.6B	-4.5B	-4.0B	-5.2B
Cash dividends - Linde plc shareholders	($2.8B)	($2.7B)	($2.5B)	($2.3B)
Noncontrolling interest transactions and other	($76.0M)	($420.0M)	($53.0M)	($88.0M)
Net cash used for financing activities	($4.6B)	($4.4B)	($5.4B)	($3.1B)
Effect of exchange rate changes on cash and cash equivalents	$131.0M	($234.0M)	($7.0M)	($74.0M)
Change in cash and cash equivalents	$206.0M	$186.0M	($772.0M)	$2.6B
Cash and cash equivalents, beginning-of-period	$4.8B	$4.7B	$5.4B	$2.8B
Cash and cash equivalents, end-of-period	$5.1B	$4.8B	$4.7B	$5.4B
Interest paid, net of capitalized interest	$548.0M	$443.0M	$451.0M	$170.0M

Linde Plc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income - Linde plc	$3.8B	$1.9B	$5.4B	$3.4B
Add: Noncontrolling interests	$87.0M	$43.0M	$117.0M	$74.0M
Net Income (including noncontrolling interests)	$3.9B	$1.9B	$5.5B	$3.5B
Cost reduction program and other charges	($76.0M)	($44.0M)	($71.0M)	($14.0M)
Depreciation and amortization	$1.9B	$951.0M	$2.8B	$1.9B
Deferred income taxes	($12.0M)	$8.0M	($458.0M)	($13.0M)
Share-based compensation	$60.0M	$41.0M	$133.0M	$88.0M
Accounts receivable	($651.0M)	($361.0M)	($379.0M)	($309.0M)
Inventory	($89.0M)	($48.0M)	($37.0M)	($36.0M)
Prepaid and other current assets	($52.0M)	($52.0M)	($4.0M)	($81.0M)
Payables and accruals	$91.0M	$35.0M	($65.0M)	($499.0M)
Contract assets and liabilities, net	($288.0M)	($108.0M)	$24.0M	($22.0M)
Pension contributions	($18.0M)	($7.0M)	($20.0M)	($15.0M)
Long-term assets, liabilities and other	($240.0M)	($75.0M)	($101.0M)	($92.0M)
Net cash provided by (used for) operating activities	$4.5B	$2.2B	$7.3B	$4.4B
Capital expenditures	($2.8B)	($1.3B)	($3.8B)	($2.5B)
Acquisitions, net of cash acquired	($385.0M)	($153.0M)	($393.0M)	($270.0M)
Divestitures, net of cash divested and asset sales	$123.0M	$112.0M	$31.0M	$24.0M
Other investing, net	$0	($1.0M)	($95.0M)	($53.0M)
Net cash provided by (used for) investing activities	($3.0B)	($1.4B)	($4.3B)	($2.8B)
Short-term debt borrowings (repayments) - net	$388.0M	$339.0M	$507.0M	$425.0M
Long-term debt borrowings	$2.0B	$58.0M	$3.1B	$3.1B
Long-term debt repayments	($759.0M)	($733.0M)	($1.7B)	($1.6B)
Issuances of ordinary shares	22.0M	3.0M	20.0M	15.0M
Purchases of ordinary shares	-1.7B	-807.0M	-3.2B	-2.2B
Cash dividends - Linde plc shareholders	($1.5B)	($741.0M)	($2.1B)	($1.4B)
Noncontrolling interest transactions and other	($157.0M)	($87.0M)	($149.0M)	$26.0M
Net cash provided by (used for) financing activities	($1.6B)	($2.0B)	($3.5B)	($1.8B)
Effect of exchange rate changes on cash and cash equivalents	$20.0M	$15.0M	$135.0M	$144.0M
Change in cash and cash equivalents	($158.0M)	($1.1B)	($341.0M)	($64.0M)
Cash and cash equivalents, beginning-of-period	$5.1B	$5.1B	$4.8B	$4.8B
Cash and cash equivalents, end-of-period	$4.9B	$4.0B	$4.5B	$4.8B

Linde Plc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.