Analysis of Revenues
Paying user area
Try for free
Linde plc pages available for free this week:
- Income Statement
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Linde plc for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Revenues as Reported
Linde plc, income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Merchant | |||||||||||
| On-Site | |||||||||||
| Packaged Gas | |||||||||||
| Other | |||||||||||
| Sales |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Overall revenues exhibited a generally positive trajectory between 2021 and 2025, though with some fluctuations in individual segments. Total sales increased from US$30,793 million in 2021 to US$33,986 million in 2025. However, the rate of growth was not consistent across all years and business lines.
- Merchant Revenue
- Merchant revenue demonstrated consistent growth throughout the period, increasing from US$7,860 million in 2021 to US$10,159 million in 2025. This represents a cumulative increase of approximately 29.2% over the five-year period. The growth rate appears relatively stable, indicating a steady demand for merchant gas products.
- On-Site Revenue
- On-Site revenue initially increased significantly from US$7,345 million in 2021 to US$8,934 million in 2022. However, this was followed by a decline in 2023 to US$7,825 million and a further decrease in 2024 to US$7,656 million. A modest recovery was observed in 2025, with revenue reaching US$8,083 million. This segment experienced the most volatility of the reported lines, suggesting potential sensitivity to specific industrial conditions or project timing.
- Packaged Gas Revenue
- Packaged Gas revenue showed a steady increase from US$10,551 million in 2021 to US$11,853 million in 2025. While growth was present each year, the rate of increase slowed between 2021-2022 (approximately 3.1%) and 2024-2025 (approximately 2.0%). This suggests a maturing market or increased competition within the packaged gas sector.
- Other Revenue
- Other revenue experienced a consistent decline from US$5,037 million in 2021 to US$3,891 million in 2025. This represents a decrease of approximately 22.8% over the period. The consistent downward trend suggests a strategic shift away from the products or services encompassed within this category, or potentially declining demand.
- Total Sales
- Total sales increased from 2021 to 2022 and 2024 to 2025, but experienced a slight decrease in 2023. The largest year-over-year increase occurred between 2021 and 2022 (approximately 8.7%). The decrease in 2023 was primarily driven by the decline in On-Site and Other revenues, partially offset by growth in Merchant and Packaged Gas revenues. The overall trend remains positive, but the 2023 dip warrants further investigation.