Linde plc Ordinary Shares (LIN)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $223.6B, Linde plc Ordinary Shares's free cash flow of $5.1B (fiscal 2025) would need to grow about 15% a year for the stock to be worth today's price. That is close to what the company has delivered over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Linde plc Ordinary Shares's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from LIN's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Linde plc Ordinary Shares's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $30.8B | $33.4B | $32.9B | $33.0B | $34.0B |
| Net income | $3.8B | $4.1B | $6.2B | $6.6B | $6.9B |
| Free cash flow | $6.6B | $5.7B | $5.5B | $4.9B | $5.1B |
| EPS (diluted) | $7.33 | $8.23 | $12.59 | $13.62 | $14.61 |
| Operating margin | 16.2% | 16.1% | 24.4% | 26.2% | 26.3% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own LIN
From each investor's latest 13F filing (what a 13F shows). 12 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Hersh Cohen ClearBridge Investments |
Trimmed | $1.3B | 1.1% | Q2 2026 |
| Stephen Mandel Lone Pine Capital |
New position | $809M | 4.9% | Q2 2026 |
| Dodge & Cox Dodge & Cox |
Held | $688M | 0.36% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $460M | 0.27% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Trimmed | $251M | 0.09% | Q2 2026 |
| Tom Gayner Markel Group Inc. |
Added | $112M | 0.85% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $41M | 0.10% | Q2 2026 |
| Stanley Druckenmiller Duquesne Family Office |
Held | $21M | 0.41% | Q2 2026 |
| Wallace Weitz Weitz Investment Management |
Trimmed | $4M | 0.26% | Q2 2026 |
| Murray Stahl Horizon Kinetics LLC |
Held | $726,516 | 0.01% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
New position | $366,891 | 0.00% | Q2 2026 |
| Ron Baron Baron Capital (BAMCO) |
New position | $45,667 | 0.0% | Q2 2026 |
Insider buying
Open-market purchases by Linde plc Ordinary Shares's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 26, 2026 | Thomas H. Kean, Jr. |
0 | $495.49 | — |
| Mar 26, 2026 | Thomas H. Kean, Jr. |
0 | $495.49 | — |
| Mar 26, 2026 | Thomas H. Kean, Jr. |
0 | $495.49 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $477.94 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $477.94 | — |
| Mar 10, 2026 | Ro Khanna |
0 | $477.94 | — |
| Feb 18, 2026 | Thomas H. Kean, Jr. |
0 | $485.28 | — |
| Feb 18, 2026 | Thomas H. Kean, Jr. |
0 | $485.28 | — |
| Feb 18, 2026 | Thomas H. Kean, Jr. |
0 | $485.28 | — |
| Feb 5, 2026 | Ro Khanna |
0 | $459.69 | — |
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In the full deep dive
Questions
What growth does Linde plc Ordinary Shares's stock price imply?
At a market value of $223.6B, Linde plc Ordinary Shares would need its free cash flow to grow about 15% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 16% a year.
Are Linde plc Ordinary Shares insiders buying the stock?
10 open-market insider purchases of LIN in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Linde plc Ordinary Shares?
12 of the superinvestors Investingly tracks hold LIN in their latest 13F, including Hersh Cohen, Stephen Mandel, Dodge & Cox.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.