Linde (LIN): analysis in plain words
Is Linde cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Linde (LIN) is listed on the Nasdaq and we classify it in materials and chemicals. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Linde according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Linde (LIN) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $524.74 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 34.8x | Price over earnings per share |
| Revenue growth | +9.2% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 19.3% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.6x | Years of operating profit to repay debt |
| Dividend yield | 1.25% | Annual dividend over price |
| Market cap | $240.9 billion | What the stock market values it at |
The Linde figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any LIN figure that is not available shows as N/A: we do not estimate it.
How Linde makes money
Linde produces and sells industrial gases such as oxygen, nitrogen, argon and hydrogen to hospitals, chemical makers, refiners, chipmakers and food companies, delivering them through on-site plants, bulk trucks or cylinders. It reports Americas, its largest segment, EMEA and APAC, plus Engineering, which designs and builds gas plants.
Over the last 12 months, Linde brought in revenue of $36.2 billion. For every 100 it sells, Linde keeps 47.9 after the direct cost of what it sells (gross margin) and 28.0 after all operating costs (operating margin). With 64,512 full-time employees, that is about $562,000 of revenue per employee.
Linde against its sector
To know whether a Linde figure is high or low you have to put it next to similar companies. This table compares Linde with the median of the 10 materials and chemicals companies Fintols covers, with data as of November 4, 2026.
| Figure | Linde | materials and chemicals median |
|---|---|---|
| P/E | 34.8x | 28.5x (10) |
| Revenue growth | +9.2% | +9.2% (11) |
| Net margin | 19.3% | 10.7% (11) |
| Dividend yield | 1.25% | 0.99% (11) |
| Net debt / EBITDA | 1.6x | 2.0x (11) |
In short, against the typical materials and chemicals company, Linde trades on a higher P/E, earns a wider margin and pays a higher dividend yield. By size, Linde ranks number 1 of 7 materials and chemicals companies quoted in USD on Fintols.
The bull case for Linde
These are the strengths in the Linde figures as of November 4, 2026:
- Its net margin over the last 12 months is 19.3% (sector median: 10.7%): Linde turns a large share of its sales into profit.
- Analysts expect Linde earnings to rise: its P/E on the next 12 months of estimated earnings is 26.9x, below the current 34.8x.
- Linde earns 17.7% a year on its shareholders' money (return on equity).
The main risk for Linde
The Linde figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: the price of what it sells (metals, chemicals), which depends on the world economy and is out of its control.
Frequently asked questions about Linde
Is it a good time to buy Linde stock?
Fintols does not tell you whether to buy or sell Linde, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Linde stock trades at $524.74, 4% below its 52-week high ($548.20) and 35% above its low ($387.78). Its P/E is 34.8x against a materials and chemicals median of 28.5x, and 26.9x on the earnings analysts expect over the next 12 months. With Linde, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Linde pay a dividend?
Yes. As of November 4, 2026, Linde pays $6.40 per share a year, which at today's price is a yield of 1.25%. It uses 42% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 1.29%. The materials and chemicals median on Fintols is 0.99%.
Is Linde stock expensive?
It depends on what you compare it with. On P/E, Linde trades at 34.8x its last 12 months of earnings: more expensive than the materials and chemicals median (28.5x). Including its debt, Linde is valued at 18.8x its EBITDA (EV/EBITDA). A high P/E alone does not make Linde expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Linde's competitors?
On Fintols we compare Linde with Freeport-McMoRan, Newmont and Nucor, which are also in materials and chemicals. As of November 4, 2026, Freeport-McMoRan is worth $89.9 billion and trades on a P/E of 26.3; Newmont is worth $122.7 billion and trades on a P/E of 13.7; Nucor is worth $60.8 billion and trades on a P/E of 17.1. Each has a side-by-side comparison with Linde below.
Linde competitors
- Freeport-McMoRan (FCX) analysis · Linde vs Freeport-McMoRan comparison
- Newmont (NEM) analysis · Linde vs Newmont comparison
- Nucor (NUE) analysis · Linde vs Nucor comparison
To understand Linde better
- How to Read a Balance Sheet: A Beginner's Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Linde: materials and chemicals stocks, S&P 500 companies and S&P 100 companies. Open the full LIN analysis with its valuation and scenarios. Educational content about Linde, not investment advice.