Linde plc (LIN) Income Statement
LIN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLIN revenue and net income
Where LIN's revenue goes
2025Each bar shows an amount and its share of revenue. LIN kept 20.3% of revenue as net income.
LIN profit margins
LIN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +3.0% | +0.6% | +4.5% | +12.2% |
| Gross profit | +6.2% | +9.7% | +12.1% | +13.2% |
| Operating income | +7.7% | +12.7% | +18.9% | +14.1% |
| Net income | +5.1% | +18.5% | +22.5% | +16.1% |
| EPS (diluted) | +6.1% | +10.2% | +14.8% | +11.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LIN quarterly EPS vs estimates
Linde beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $4.51).
LIN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.99B | $33.01B | $32.85B | $33.36B | $30.79B | $27.24B | $28.23B | $14.84B | $11.44B | $10.53B |
| Cost of revenue | $21.15B | $20.92B | $21.31B | $23.65B | $22.18B | $20.01B | $21.32B | $10.85B | $7.64B | $6.98B |
| Gross profit | $12.83B | $12.08B | $11.55B | $9.71B | $8.62B | $7.23B | $6.91B | $3.99B | $3.79B | $3.55B |
| Research & development | $147.0M | $150.0M | $146.0M | $143.0M | $143.0M | $152.0M | $184.0M | $113.0M | $93.0M | $92.0M |
| Sales, general & admin | $3.43B | $3.34B | $3.13B | $3.11B | $3.19B | $3.19B | $3.46B | $1.63B | $1.21B | $1.15B |
| Total operating expenses | $3.58B | $3.49B | $3.44B | $3.25B | $3.33B | $3.35B | $3.64B | $1.74B | $1.30B | $1.24B |
| Operating income | $9.25B | $8.60B | $8.11B | $6.46B | $5.28B | $3.89B | $3.27B | $2.24B | $2.49B | $2.31B |
| Interest income | $209.0M | $231.0M | $213.0M | $63.0M | $77.0M | $200.0M | $134.0M | $222.0M | $161.0M | $190.0M |
| Interest expense | $464.0M | $572.0M | $488.0M | $192.0M | $159.0M | $114.0M | $499.0M | $238.0M | $282.0M | $208.0M |
| Income before taxes | $9.05B | $8.74B | $8.15B | $5.71B | $5.22B | $3.47B | $3.04B | $5.11B | $2.33B | $2.09B |
| Income taxes | $1.99B | $2.00B | $1.81B | $1.43B | $1.26B | $847.0M | $769.0M | $817.0M | $1.03B | $551.0M |
| Net income | $6.90B | $6.57B | $6.20B | $4.15B | $3.83B | $2.50B | $2.29B | $4.38B | $1.25B | $1.50B |
| EBITDA | $13.02B | $12.38B | $11.92B | $10.66B | $9.92B | $8.52B | $7.94B | $4.07B | $3.68B | $3.44B |
| EPS (diluted) | $16.45 | $15.51 | $14.21 | $12.29 | $10.69 | $8.24 | $7.35 | $6.52 | $5.85 | $5.49 |
| Gross margin | 37.8% | 36.6% | 35.1% | 29.1% | 28.0% | 26.6% | 24.5% | 26.9% | 33.2% | 33.7% |
| Operating margin | 27.2% | 26.0% | 24.7% | 19.4% | 17.2% | 14.3% | 11.6% | 15.1% | 21.8% | 22.0% |
| Net margin | 20.3% | 19.9% | 18.9% | 12.4% | 12.4% | 9.2% | 8.1% | 29.5% | 10.9% | 14.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.29B | $8.78B | $8.76B | $8.62B | $8.49B | $8.11B | $8.28B | $8.36B | $8.27B | $8.10B | $8.30B | $8.15B |
| Cost of revenue | $5.82B | $5.47B | $5.50B | $5.34B | $5.25B | $5.07B | $5.23B | $5.32B | $5.21B | $5.17B | $5.38B | $5.27B |
| Gross profit | $3.46B | $3.31B | $3.27B | $3.27B | $3.25B | $3.04B | $3.05B | $3.04B | $3.06B | $2.94B | $2.92B | $2.88B |
| Research & development | $37.0M | $38.0M | $35.0M | $36.0M | $38.0M | $38.0M | $39.0M | $37.0M | $36.0M | $38.0M | $39.0M | $36.0M |
| Sales, general & admin | $891.0M | $893.0M | $880.0M | $897.0M | $870.0M | $786.0M | $814.0M | $823.0M | $840.0M | $810.0M | $668.0M | $808.0M |
| Total operating expenses | $928.0M | $931.0M | $915.0M | $933.0M | $908.0M | $824.0M | $853.0M | $860.0M | $876.0M | $898.0M | $871.0M | $844.0M |
| Operating income | $2.54B | $2.38B | $2.35B | $2.34B | $2.34B | $2.22B | $2.20B | $2.18B | $2.18B | $2.04B | $2.05B | $2.04B |
| Interest expense | $61.0M | $62.0M | $64.0M | $81.0M | $67.0M | $60.0M | $232.0M | $68.0M | $72.0M | $57.0M | $216.0M | $73.0M |
| Income before taxes | $2.58B | $2.47B | $2.05B | $2.40B | $2.38B | $2.22B | $2.30B | $2.10B | $2.21B | $2.13B | $2.04B | $2.09B |
| Income taxes | $610.0M | $571.0M | $481.0M | $424.0M | $573.0M | $511.0M | $533.0M | $498.0M | $508.0M | $463.0M | $459.0M | $487.0M |
| Net income | $1.93B | $1.86B | $1.53B | $1.93B | $1.77B | $1.67B | $1.73B | $1.55B | $1.66B | $1.63B | $1.54B | $1.56B |
| EBITDA | $3.50B | $3.33B | $3.30B | $3.30B | $3.28B | $3.13B | $3.11B | $3.14B | $3.14B | $2.99B | $3.00B | $3.00B |
| EPS (diluted) | $4.50 | $4.33 | $4.20 | $4.21 | $4.09 | $3.95 | $3.97 | $3.94 | $3.85 | $3.75 | $3.59 | $3.63 |
| Gross margin | 37.3% | 37.7% | 37.3% | 38.0% | 38.2% | 37.5% | 36.8% | 36.4% | 37.0% | 36.2% | 35.2% | 35.3% |
| Operating margin | 27.3% | 27.1% | 26.8% | 27.2% | 27.5% | 27.4% | 26.5% | 26.1% | 26.4% | 25.1% | 24.7% | 25.0% |
| Net margin | 20.8% | 21.1% | 17.5% | 22.4% | 20.8% | 20.6% | 20.8% | 18.5% | 20.1% | 20.1% | 18.6% | 19.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LIN's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LIN financial results
In fiscal year 2025 (ended December 31, 2025), Linde reported revenue of $34.0 billion, up 3.0% from the year before. It had net income of $6.9 billion (up 5.1%), a net profit margin of 20.3%. Diluted earnings per share came to $16.45. Over five years revenue grew at an average rate of 4.5% a year.
See the LIN stock overview for the latest quote and news, or the LIN chart for price history and technical indicators.
LIN income statement FAQ
What is Linde's annual revenue?
Linde reported total revenue of $34.0 billion for fiscal year 2025, which ended on December 31, 2025. That was up 3.0% from $33.0 billion the previous year.
Is Linde profitable?
Yes. Linde reported net income of $6.9 billion in fiscal 2025, a net profit margin of 20.3%; its operating margin was 27.2%.
What is Linde's gross margin?
Linde's gross margin was 37.8% in fiscal 2025: for every $100 of revenue, Linde kept $38 after the direct cost of its products and services.
How much does Linde spend on research and development?
Linde spent $147.0 million on research and development in fiscal 2025, 0.4% of revenue.
How fast is Linde growing?
Revenue grew 4.5% a year on average over the last five fiscal years, from $27.2 billion to $34.0 billion.
What are Linde's earnings per share?
Linde earned $16.45 per diluted share in fiscal 2025, compared with $15.51 a year earlier.
When will Linde report its next earnings?
Linde is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Linde's fiscal year end?
Linde's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.