LINDE PLC (LIN) Earnings History

LINDE PLC - Q4 2025 EarningsBeat

Filed at: Feb 5, 2026, 7:47 AM EST|Read from source

EXECUTIVE SUMMARY

Linde plc reported a year of resilient performance with solid growth in adjusted EPS and operating profit, driven by pricing initiatives and productivity gains. The company maintained a strong cash flow generation and returned significant capital to shareholders, positioning itself for continued value creation in 2026.

POSITIVE HIGHLIGHTS

  • •

    Full-year 2025 sales of $34.0 billion, up 3% YoY, with underlying sales up 2%.

    positive
  • •

    Full-year 2025 adjusted EPS of $16.46, up 6% YoY.

    positive
  • •

    Full-year 2025 operating cash flow of $10.4 billion, up 10% YoY.

    positive
  • •

    Returned $7.4 billion to shareholders through dividends and share repurchases in 2025.

    positive

CONCERNS & RISKS

  • •

    Fourth-quarter adjusted operating profit margin of 29.5% was 40 basis points below prior year.

    attention
  • •

    EMEA segment underlying sales decreased 2% in Q4 2025, driven by 3% lower volumes.

    negative
  • •

    Linde Engineering sales were down 2% versus prior year in Q4 2025.

    negative

FINANCIAL METRICS

Revenue
Quarterly
$8.76B
+6.0%
Prior year: $8.27B
Annual (YTD)
$34.00B
N/A
Prior year: $33.00B
Net Income
Quarterly
$1.53B
-11.0%
Prior year: $1.72B
EPS (Diluted)
Quarterly
$3.26
-9.0%
Prior year: $3.58
Operating Income
Quarterly
$2.02B
+4.0%
Prior year: $1.94B
Annual (YTD)
$8.90B
N/A
Prior year: $8.56B
EPS (Basic)
Quarterly
N/A
N/A

MARGIN ANALYSIS

Operating Margin
Current Quarter
23.0%
Prior Year
23.5%
YoY Change
-50 bps
Net Margin
Current Quarter
17.5%
Prior Year
20.8%
YoY Change
-333 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

REVENUE BY SEGMENT — Q4 2025 2025

VISUAL OVERVIEW

|
Americas
0.0%
N/A
APAC
0.0%
N/A
EMEA
0.0%
N/A
Linde Engineering
0.0%
N/A

DETAILED BREAKDOWN

|
SegmentCurrentPrior YrYoY% Total
Americas
N/A———
APAC
N/A———
EMEA
N/A———
Linde Engineering
N/A———
Total Revenue$0.00M——100.0%

Segment performance shows business unit health and growth drivers.

MANAGEMENT GUIDANCE

FY2026

adjusted EPS
$17.40—$17.90
Mid-point: $17.65
"6%-9% growth or 5%-8% ex FX"

Q1 2026

adjusted EPS
$4.20—$4.30
Mid-point: $4.25
"6%-9% growth or 3%-6% ex FX"

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

SPECIAL ITEMS & ADJUSTMENTS

Q4 2025
Linde AG purchase accounting impacts and restructuring charge impacts
Adjusted net income excludes these impacts.

Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.

MANAGEMENT COMMENTARY

Linde delivered another year of resilient performance, with operating profit, cash flow and backlog each exceeding $10 billion.

— LINDE PLC, Q4 2025 2025 Earnings Call

Operating margins expanded to 29.8%, ROC reached 24.2% and EPS grew 6%.

— LINDE PLC, Q4 2025 2025 Earnings Call

These results underscore the strength of our operating model and the exceptional execution by the Linde team worldwide.

— LINDE PLC, Q4 2025 2025 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Price Attainment Pct
2
%
Project Backlog Billions
10
$
Underlying Sales Growth Pct
3
%
Volume Growth Pct
1
%

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.

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