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Linde plc (LIN) Fair Value & Analysis

Basic Materials · DE · Market cap €197B

LP Linde plc LIN · XETRA
Price€454.60
Fair Value€197.39
Upside-56.6%
Quality93/100
Evidence: High Range €107.43 – €286.06

Fair value as of: Jun 24, 2026

From 26 valuation models · updated 5 days ago

Fair value updated Jun 24, 2026 — revised from €191.66 to €197.39 (+3.0%) since Jun 23, 2026. Share price +5.2% over the past month.

Price vs Fair Value (12 months)

€470.89 €340.16 Fair Value €197.39 Jun 2025 Jun 2026

12‑month range €340.16 – €470.89 · fair‑value band €107.43 – €286.06 · the €454.60 price screens above the €197.39 fair value. As of Jun 24, 2026.

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Analysis

Linde plc (LIN) currently trades at €454.60, while our model-based Fair Value estimate is €197.39 — implying the stock looks roughly 56.6% overvalued today. We read business quality at 93/100 (high quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, Linde plc generated revenue of €33.4B at a net margin of 12.4%. Revenue declined 4.8% year over year. It earns a return on equity of 9.9%. Net debt stands at €21.9B. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) €33.4B
Revenue growth (YoY) -4.8%
Net margin 12.4%
Return on equity 9.9%
Free cash flow €5.1B FY2025
P/E ratio 32.8
More key figures
Operating margin 20.0%
EPS (TTM) €8.07
Dividend yield 1.4%
EPS growth (YoY) +34.4%
Net debt €21.9B FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. The company also designs and constructs turnkey process plants for third-party customers, as well as for the gas businesses in various locations, such as air separation, hydrogen, synthesis, olefin, and natural gas plants. It serves a range of industries, including healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics. The company was founded in 1879 and is based in Woking, the United Kingdom.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Linde plc reported revenue of €34.0B in FY2025 versus €30.8B in FY2021, a compound +2.5%/yr. Reported net income was €6.9B in FY2025, compounding +15.9%/yr from FY2021.

Revenue +2.5%/yr
FY21 €30.8B
FY22 €33.4B
FY23 €32.9B
FY24 €33.0B
FY25 €34.0B
Net income +15.9%/yr
FY21 €3.8B
FY22 €4.1B
FY23 €6.2B
FY24 €6.6B
FY25 €6.9B

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Similar stocks

6 more Chemicals stocks, each showing price versus our Fair Value estimate (as of Jun 24, 2026).

Stock Price Fair Value vs Fair Value
Shin-Etsu Chemical Co SHECY $22.43 $14.26 -36%
BASF SE BAS €50.82 €9.45 -81%
Ningxia Baofeng Energy Group 600989 ¥23.43 ¥34.39 +47%
Dow Inc D1OW34 R$41.12 R$16.66 -59%
Ganfeng Lithium Group 002460 ¥67.60 ¥22.08 -67%
Hengli Petrochemical Co 600346 ¥16.38 ¥15.62 -5%

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Frequently asked questions

Is Linde plc (LIN) undervalued?
As of Jun 24, 2026, our model estimates a fair value of €197.39 versus a price of €454.60 — about −57% (overvalued). Model-based estimate, not financial advice.
What is the fair value of LIN?
Our 21-model fair value for Linde plc is €197.39 (as of Jun 24, 2026), built from audited fundamentals. The current price is €454.60.
What is the quality score of LIN?
Linde plc has a Quality Score of 93/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Linde plc (LIN)?
Linde plc reported trailing-twelve-month revenue of about €33.4B (latest available figure, as of Jun 24, 2026).
What is the net profit margin of LIN?
The net profit margin of Linde plc is about 12.4%, meaning it keeps roughly 12.4% of revenue as net income. Based on the latest reported figures.
Does Linde plc pay a dividend?
Linde plc currently shows a dividend yield of about 1.41% relative to its recent price (as of Jun 24, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.