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STOCK COMPARISON

Linde plc Ordinary Shares vs Novonesis (Novozymes) A/S: Fair Value & Quality

Both stocks run through our valuation models. Here is how Linde plc Ordinary Shares (LIN) and Novonesis (Novozymes) A/S (NSIS-B) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Novonesis (Novozymes) A/S as the less overvalued of the two: Linde plc Ordinary Shares trades at $478 versus a fair value of $222 (-54%), while Novonesis (Novozymes) A/S trades at DKK 437 versus DKK 340 (-22%).
Linde plc Ordinary Shares
LIN · USD · Materials
-54%
upside to fair value
overvalued
Price$478
Fair Value$222
Quality70/100
Novonesis (Novozymes) A/S
NSIS-B.CO · DKK · Materials
-22%
upside to fair value
overvalued
PriceDKK 437
Fair ValueDKK 340
Quality62/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Linde plc Ordinary SharesNovonesis (Novozymes) A/S
Valuation
32.1×P/E (TTM)46.6×
6.95×P/S (TTM)7.45×
6.30×P/B2.88×
18.9×EV/EBITDA21.0×
2.18×PEG2.23×
−53.5%Fair value upside−22.1%
1.3%Dividend yield1.5%
$6.10Dividend per shareDKK 6.60
Profitability
28%Operating margin24%
1.84×EBIT margin trend (5Y)0.81×
18%Return on equity5%
7%Return on assets4%
Growth
8%Revenue growth (YoY)4%
0.6%Avg. growth/yr (3Y)—
4.5%Avg. growth/yr (5Y)-21.6%
+24.2%Value creation/yr−33.8%
Balance & size
42.1×Interest coverage (EBIT/interest)11.0×
0.54×Debt / equity0.14×
$241BMarket cap$31B
healthyGrowth qualityweak

Linde plc Ordinary Shares leads: 11 to 4 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Linde plc Ordinary Sharesof which business quality 66 · market factors 55 Novonesis (Novozymes) A/Sof which business quality 61 · market factors 68
ProfitabilityMargins and returns on capital today
51
32
Quality GrowthAre margins and returns improving?
51
72
CashflowEarnings quality: real cash, not paper profit
64
80
Fin. StrengthBalance sheet, leverage, solvency risk
69
73
InvestmentDisciplined investing over empire-building
70
83
Low VolatilityCalm price path (market factor)
87
82
MomentumPrice trend over the last 3–12 months (market factor)
39
59
52W MomentumDistance to the 52-week high (market factor)
46
69
Net IssuanceBuybacks instead of dilution
100
32

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyLinde plc Ordinary SharesPrice $478Novonesis (Novozymes) A/SPrice DKK 437
DCF Models-56%below the price$211-91%below the priceDKK 37.14
Earnings-Based-72%below the price$132-96%below the priceDKK 18.75
Dividend Discount-76%below the price$116-96%below the priceDKK 18.65
Multiples-50%below the price$239-94%below the priceDKK 24.03
Asset-Based-88%below the price$55.42-96%below the priceDKK 17.63
Growth DCF-68%below the price$155-92%below the priceDKK 33.02
Economic Profit-67%below the price$156-96%below the priceDKK 19.57
Growth Earnings-57%below the price$204-94%below the priceDKK 25.66
Minimum-88%below the price$55.42-96%below the priceDKK 17.63
Maximum-50%below the price$239-91%below the priceDKK 37.14
Median-67%below the price$156-95%below the priceDKK 21.80
Geometric mean-69%below the price$146-95%below the priceDKK 23.44

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Linde plc Ordinary Shares: 26 of 26 models see the stock below the current price.

Novonesis (Novozymes) A/S: 26 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Linde plc Ordinary Shares
Bear $121Fair Value $222Bull $291
$478 = current price (white tick)
Novonesis (Novozymes) A/S
Bear DKK 269Fair Value DKK 340Bull DKK 449
DKK 437 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Linde plc Ordinary Shares · Materials

Quality score70 · Top 25%
Fair value upside-54% · below median

Novonesis (Novozymes) A/S · Materials

Quality score62 · Top 25%
Fair value upside-22% · above median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Novonesis (Novozymes) A/S as the less overvalued of the two: Linde plc Ordinary Shares trades at $478 versus a fair value of $222 (-54%), while Novonesis (Novozymes) A/S trades at DKK 437 versus DKK 340 (-22%).

Linde plc Ordinary Shares has the higher quality score (70/100).

See the full analysis →
Linde plc Ordinary Shares · Novonesis (Novozymes) A/S

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.