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Linde plc — Intrinsic Value & Fair Price

LIN
NASDAQBasic MaterialsChemicals - SpecialtyCIK 0001707925linde.comAbout LIN
Last close · Oct 16, 2026498.43+5.21 (+1.06%)
Market cap$229.8B
Model value · DCF · Perpetuity growth · 5y
290.52
Linde closed at $498.43 — overvalued by 72% vs model.
172.35the model's range767.73

DCF · Perpetuity growth · 5y leads for a mature, steady company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
94.08 – 595.47
Wall St. target
556.00 10% below
Above model, 1y
13 of 21 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
1.26%
Past 2 years
low 1.11%high 1.54%
Dividends per share, a year at a time
$4.14Sep ’21$4.57Sep ’22$5.00Sep ’23$5.45Sep ’24$5.89Sep ’25$6.30TTM
Dividends / free cash flow, FY2025
55.2%
Raised
32 years in a row
Growth, 5 yrs
8.7% a year
Last change
+6.7% · Mar 2026
Every payment, with ex-dates · latest $1.60, paid Sep 17, 2026

Research on LIN

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How it is valued

Valued asMature & stable
Low/slowing growth (~2% recent)High profitability (20% net margin)Pays dividendsHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for mature companies
P/E
34.1×
EV / EBITDA
19.4×
FCF yield
2.2%
Dividend yield, TTM
1.26%
Beta
0.71
Cost of capital (WACC)
7.96%
Full financials

Analyst actions

third-party, quoted
10-15RBC Capital · target549.00
10-12Barclays · target577.00
10-05UBS · target574.00
03-13JP Morgan · “Overweight” from “Neutral”upgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label
1 more company lists LIN as a comparable

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just LIN. No account.

About Linde

Linde plc functions as a global industrial gas and engineering powerhouse, extending its operations throughout North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company's comprehensive product line features atmospheric gases like oxygen, nitrogen, argon, and various rare gases, alongside a diverse array of process gases such as carbon dioxide, helium, hydrogen, specialized electronic gases, and acetylene. Beyond gas supply, Linde is also adept at designing and constructing turnkey process plants. These engineering solutions serve both third-party customers and its own gas business facilities, covering types like olefin, natural gas, air separation, hydrogen, and synthesis gas plants. Linde's extensive client base spans numerous sectors, including healthcare, energy, general manufacturing, food and beverage carbonation, fiber-optics, steel production, aerospace, chemicals, and water treatment. Established in 1879, the company is headquartered in Woking, United Kingdom.

CEO
Sanjiv Lamba
Headquarters
Woking, SU
Employees
64,649
IPO
1992-06-17
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.