SURVYR

LIN

Linde plc
$508.65
+$1.09 (0.21%)Oct 27 close
MaterialsS&P 500 CompareTechnicals
Model valuationLooks expensiveDCF base $239
1M3M6M1Y2Y
-12%-3%+6%+16%+25%Oct 2025Oct 2026Apr 202652w high $548.2052w low $387.78
LINSPY
Wall St. Highest PT $580.00 (+14.0%) Wall St. Avg PT $544.11 (+7.0%)
$386$439$491$544$597POC $494Hi $580Avg $544
Underwater Drawdown %Max DD -16.0%Current -6.6%
0.0%-16.0%
Relative Strength vs SPY+2.4% vs SPYOutperforming
+23%0%-23%
1W
+$6.76 (1.35%)
1M
+$38.76 (8.25%)
3M
−$0.85 (0.17%)
6M
+$1.64 (0.32%)
YTD
+$86.42 (20.47%)
1Y
+$69.78 (15.90%)

Chart

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Ratings & dials

1m · 5m · 15m · 1h · 4h · 1D

Analyst & Morningstar ratings

Consensus · Targets · Morningstar
Wall Street analyst consensus
SellHoldStrong Buy
Buy
27 analysts · mean score 1.69
1 = Strong Buy · 5 = Sell
Wall Street consensus
Analyst price targets
Current price$508.65
Average target$544.11
+$35.46 (+7.0%) upsideaverage target vs current price
CurrentAverageMedian
Low$400.00
Median$544.11
High$580.00
12-month Wall Street target range

Third-party ratings, not SURVYR.'s views.

Health check

Financial health
DistressGrey zoneSafe
Safe zone
Altman Z-score 3.9
Above 2.99 is the safe zone, below 1.81 the distress zone.
Quality
WeakAverageStrong
Average
Piotroski F-score 4 of 9
See the tests
  • ✓Positive net income
  • ✓Positive operating cash flow
  • ✗Return on assets improved
  • ✓Cash flow above net income
  • ✗Long-term debt / assets fell
  • ✗Current ratio improved
  • ✓No share dilution
  • ✗Gross margin improved
  • ✗Asset turnover improved

Computed by SURVYR. from the company's SEC filings (latest balance sheet Jun 30, 2026). Descriptive, not a forecast.

Key stats & company

Market value$230.8B
P/E (last 12 months)32.3
P/E (next 12 months, estimated)25.6
52-week range$387.78 – $548.20
Revenue growth (latest quarter vs a year ago)+9.3%
Dividend yield1.28%
Analyst consensusBuy (27)
Average analyst price target$544.11 (+7%)

What they do

Linde plc operates as an industrial gas company worldwide. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases. It also engages in the design and construction of turnkey process plants for third-party customers, as well as for its gas businesses, including air separation, hydrogen, synthesis, olefin, and natural gas plants.

Basic Materials · Specialty Chemicals
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Looks expensive
Model read-out from the numbers below, not advice. Score -3 (DCF counts double).
▼DCF (base case)below the price by 53%
▼Forward P/E vs sector25.6x vs median 12.9x
•Piotroski F-score4/9
▲Altman Z3.9 (safe)
•Net debt / EBITDA1.8x
•Analyst target+7% (27 analysts)

Discounted cash flow

CyclicalValued on average-cycle margins
Bear
$123
-76%
growth -0% · disc. 8.8% · term. 2.0%
Base
$239
-53%
growth 5% · disc. 7.8% · term. 2.5%
Bull
$423
-17%
growth 8% · disc. 6.8% · term. 3.0%

Starting cash flow is mid-cycle: 16.7% average margin × current revenue = 5.9B (last 12 months: 5.0B at a 14% margin). On trailing cash flow the base case would be $193.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 13% a year for 10 years.
Implied
+13%/yr
FCF, last 3 yrs
-4%/yr
FCF, last 5 yrs
+5%/yr
Revenue, last 3 yrs
+1%/yr
Revenue, last 5 yrs
+5%/yr
Same inputs as the DCF above: mid-cycle free cash flow 5.9B, 7.8% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 0.71 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Materials

P/E (trailing)
sector median 20.7× · 72nd pct
 32.3×
pricier
Forward P/E
sector median 12.9× · 88th pct
 25.6×
pricier
EV / EBITDA
sector median 11.2× · 91st pct
 19.2×
pricier
Price / sales
sector median 1.5× · 93rd pct
 6.5×
pricier
Price / book
sector median 2.3× · 92nd pct
 5.9×
pricier
FCF yield
sector median 4.7% · 17th pct
 2.2%
pricier

Forward EPS $19.57 vs trailing $15.49 (+26% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO
$64.0B
as of 2026-06-30
vs a year ago
+5%
YoY
× TTM revenue
1.81×
coverage
24-09
24-12
25-03
25-06
25-09
25-12
26-03
26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
–
Operating margin
26.5%
FCF margin
14.0%
Net margin
20.4%
Return on equity
18.5%
Return on invested capital
11.7%
Net debt / EBITDA
1.8×
Current ratio
0.9×
Interest cover
37.4×
Cash conversion (OCF/NI)
1.4×
Piotroski F-score 4/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 3.9 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$544
+7%
Analysts
27
Buy
Range
$400–$580
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$34.0B$6.9B$5.1B
2024$33.0B$6.6B$4.9B
2023$32.9B$6.2B$5.5B
2022$33.4B$4.1B$5.7B
2021$30.8B$3.8B$6.6B
2020$27.2B$2.5B$4.0B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +0.6%.

For information only · Important disclosures

Grades vs sector

Momentum
53rd percentile in sector
C+
12-1 return: +15.0%
Percentile within its GICS sector across the S&P 1500.
Growth
51st percentile in sector
C+
Revenue growth (YoY): +9.3%
Percentile within its GICS sector across the S&P 1500.
Value
12th percentile in sector
D-
Forward E/P: 3.9% · EBITDA/EV: 5.4%
Percentile within its GICS sector across the S&P 1500.
Profitability
83rd percentile in sector
A-
Profit margin: +20.4% · Return on equity: +18.4%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Not held by any of our 7 live models right now.

Quality Growth
Outside this model's universe or screens
 Momentum Top 15
ranked 296 of 499 · 12-month momentum 4.1%
 Momentum Blend
Not in the current book
 New Highs Growth
Outside this model's universe or screens
 SURVYR. Barbell Momentum & T-Bill Shield
Outside this model's universe or screens
 SURVYR. Physical AI Grid & Power
Outside this model's universe or screens
 SURVYR. Long Book
Not in the current book

Earnings & events

LIN earningsNext report in 2 days
Next report · quarter Sep 2026
Thu Oct 29, 2026Before the open
EPS consensus$2.63
Revenue consensus–
Last 4 quarters · EPS vs estimate
Jul 31, 2026$4.50est $4.49+0.3%In line with estimates
May 1, 2026$4.33est $4.27+1.4%Above estimates
Feb 5, 2026$4.20est $4.18+0.5%In line with estimates
Oct 31, 2025$4.21est $4.18+0.8%In line with estimates

In line = within 1% of the estimate.

Source: Yahoo Finance · report time: Nasdaq earnings calendar · refreshed 2026-10-27 17:55:21 ET
24-1025-0225-0525-0825-1026-0226-0526-070.004.50
EstimateActual (beat)Actual (miss)

News & catalysts

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Insider trades
Reynolds Paula Rosput
Director · 2026-08-18
Buy
$47.9K
None
None · None
Sell
–
None
None · None
Sell
–

Stats refreshed 2026-10-27 17:55:21 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Systematic research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

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Coteau 0.9 · Oct 21, 2026