Stock Analysis on Net
Stock Analysis on Net

Linde plc (NASDAQ:LIN)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Linde plc, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Accounts payable 3.08 3.01 2.96 3.13 3.45 3.56 3.59 3.74 3.53 3.78 3.66 3.76 4.13 4.31 4.09 4.29 3.65 3.73 3.46 3.51 3.33 3.28 3.51
Short-term debt 5.77 5.67 5.40 5.27 4.25 4.15 5.04 5.83 4.95 3.83 6.65 5.17 4.28 4.13 3.08 1.43 3.44 4.36 3.85 3.68 4.61 4.29 5.75
Current portion of long-term debt 2.76 1.56 2.21 2.57 1.55 1.57 1.30 1.56 1.18 1.20 2.11 2.01 2.09 2.12 1.30 2.09 2.72 2.17 2.97 0.85 2.09 3.17 2.38
Contract liabilities 1.49 1.46 1.45 1.49 2.09 2.20 2.27 2.35 2.55 4.12 3.82 3.86 3.90 3.77 3.67 3.60 2.63 2.12 2.19 2.01 1.97 1.97 2.20
Other current liabilities 5.74 5.39 5.51 5.69 5.68 5.35 5.71 5.96 5.98 5.55 5.90 5.89 5.87 5.31 5.39 5.30 5.09 5.02 5.20 5.52 4.97 4.87 4.52
Current liabilities 18.83% 17.09% 17.51% 18.15% 17.02% 16.83% 17.91% 19.45% 18.20% 18.49% 22.15% 20.69% 20.26% 19.64% 17.53% 16.72% 17.53% 17.40% 17.68% 15.57% 16.96% 17.58% 18.36%
Long-term debt, excluding current portion 21.62 22.89 21.29 19.14 21.17 21.11 18.95 16.58 17.00 17.19 14.62 15.31 14.27 14.35 15.50 13.89 13.71 11.84 11.71 13.77 13.71 12.90 11.88
Other long-term liabilities 12.93 13.57 13.48 13.44 12.62 12.75 13.07 13.12 13.10 11.93 11.76 12.04 13.07 13.32 13.34 13.71 14.44 14.77 14.57 14.46 13.61 13.68 13.77
Long-term liabilities 34.56% 36.45% 34.77% 32.58% 33.79% 33.86% 32.02% 29.70% 30.10% 29.11% 26.38% 27.36% 27.34% 27.67% 28.84% 27.60% 28.15% 26.61% 26.28% 28.23% 27.32% 26.58% 25.64%
Total liabilities 53.38% 53.55% 52.28% 50.73% 50.81% 50.69% 49.93% 49.15% 48.30% 47.60% 48.53% 48.04% 47.61% 47.31% 46.37% 44.32% 45.67% 44.01% 43.96% 43.80% 44.28% 44.17% 44.00%
Redeemable noncontrolling interests 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.01 0.01 0.02 0.11
Ordinary shares, €0.001 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 45.82 45.79 47.65 49.41 47.94 49.32 49.25 49.27 51.14 50.56 49.63 50.22 53.83 51.33 48.29 49.24 47.77 47.66 47.29 45.57 46.10 46.84 47.63
Retained earnings 18.37 16.96 16.38 15.76 14.03 13.37 12.08 10.95 10.20 8.92 7.59 25.79 26.70 24.60 23.42 22.93 21.67 21.13 20.66 19.47 19.41 19.55 19.97
Accumulated other comprehensive loss -7.45 -7.26 -8.18 -8.60 -7.34 -8.47 -8.12 -7.18 -8.58 -7.49 -7.23 -7.26 -10.89 -8.30 -5.97 -6.19 -6.67 -5.82 -6.29 -5.32 -6.85 -7.71 -8.76
Treasury shares, at cost -11.83 -10.74 -9.86 -9.05 -7.18 -6.62 -4.88 -3.88 -2.79 -1.28 -0.21 -18.50 -19.02 -16.69 -13.84 -12.02 -10.12 -8.70 -7.30 -6.09 -5.71 -5.63 -5.77
Total Linde plc shareholders’ equity 44.91% 44.74% 45.99% 47.53% 47.46% 47.60% 48.33% 49.15% 49.98% 50.70% 49.77% 50.25% 50.63% 50.94% 51.91% 53.96% 52.65% 54.27% 54.37% 53.63% 52.95% 53.04% 53.07%
Noncontrolling interests 1.69 1.69 1.71 1.73 1.72 1.69 1.73 1.69 1.71 1.68 1.68 1.69 1.75 1.74 1.71 1.71 1.66 1.70 1.66 2.55 2.76 2.78 2.82
Total equity 46.60% 46.44% 47.70% 49.25% 49.17% 49.29% 50.05% 50.84% 51.69% 52.38% 51.46% 51.94% 52.37% 52.68% 53.62% 55.67% 54.31% 55.98% 56.03% 56.18% 55.70% 55.82% 55.89%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Accounts payable
The percentage of accounts payable relative to total liabilities and equity showed moderate fluctuations, rising from 3.51% at the start of 2020 to a peak near 4.31% mid-2022, then trending downward to approximately 3.08% by late 2025. Overall, this item exhibited a slight downward trend in the later periods after peaking in 2022.
Short-term debt
Short-term debt as a percentage of total liabilities and equity experienced volatility, initially declining from 5.75% in early 2020 to a low of 1.43% at the end of 2021, before rising steadily to around 5.77% by late 2025. The recent increase suggests an increased reliance on short-term borrowings.
Current portion of long-term debt
This category showed variability without a clear long-term trend, fluctuating between about 0.85% and 3.17% through the years, with values generally oscillating around 2%. No sustained upward or downward movement is evident in recent periods.
Contract liabilities
Contract liabilities rose steadily from about 2.2% in early 2020 to a high near 4.12% mid-2023, followed by a pronounced decrease to approximately 1.49% by the end of 2025. This indicates a significant reduction in contract liabilities as a share of total liabilities and equity after mid-2023.
Other current liabilities
Other current liabilities showed a mild upward drift, increasing from 4.52% in early 2020 to a peak around 5.98% in the second half of 2021. Following this, the percentage stabilized close to 5.5%-5.7%, indicating relative stability in recent periods.
Current liabilities (aggregate)
Overall current liabilities as a percentage of total liabilities and equity fluctuated significantly, decreasing from 18.36% in early 2020 to about 15.57% by end 2020, then increasing to a peak of 22.15% by early 2023. Thereafter, these liabilities fluctuated around the 17%-19% range, showing variability but no clear sustained trend.
Long-term debt, excluding current portion
Long-term debt increased steadily over the period, starting near 11.88% in early 2020 and generally rising to around 21.62% by the end of 2025. This growth indicates increased use of long-term leverage in the company's capital structure over time.
Other long-term liabilities
Other long-term liabilities remained relatively stable, fluctuating modestly between approximately 11.76% and 14.77%. A slight declining tendency is observed after mid-2021, but the changes are moderate overall.
Long-term liabilities (aggregate)
Long-term liabilities as a whole rose steadily from about 25.64% in early 2020 to a peak near 36.45% around mid-2025. This reflects an increasing weight of long-term obligations within the total liabilities and equity.
Total liabilities
The total liabilities ratio displayed a gradual increase from 44.0% at the beginning of 2020 to about 53.55% by mid-2025, indicating growing leverage overall. The increase was consistent despite some quarter-to-quarter fluctuations.
Redeemable noncontrolling interests
Redeemable noncontrolling interests remained negligible and stable at approximately 0.02% or below throughout the entire period, showing no material impact on the capital structure.
Ordinary shares, €0.001 par value
This item was consistently zero, indicating no change or issuance in ordinary share capital on a par value basis over the reported periods.
Additional paid-in capital
Additional paid-in capital exhibited a general upward trajectory early on, increasing from 47.63% in early 2020 to a high near 53.83% by late 2022. It then declined steadily to roughly 45.82% by late 2025, suggesting changes in equity financing or adjustments in capital surplus.
Retained earnings
Retained earnings grew significantly over the timeframe, from about 19.97% at the beginning of 2020 to 26.7% by late 2022. A notable drop to 7.59% was observed at the start of 2023, after which earnings recovered gradually to 18.37% by the end of 2025, indicating fluctuations possibly due to accounting changes or dividend policies.
Accumulated other comprehensive loss
The accumulated other comprehensive loss fluctuated between -5.32% and -10.89%, showing volatility but generally large negative values, suggesting sustained comprehensive losses or unrealized losses in other equity components.
Treasury shares, at cost
Treasury shares as a component of equity showed a marked increase in negative value from -5.77% early 2020 to -19.02% by late 2022, indicating significant share repurchases during that period. An abrupt improvement was seen starting 2023, with values climbing back towards around -11.83% by late 2025, reflecting reduced treasury holdings or revaluation.
Total shareholders’ equity
Total shareholders’ equity decreased from 53.07% in early 2020 to about 44.91% by late 2025, highlighting a decline in the equity base's share of total financing, consistent with rising liabilities.
Noncontrolling interests
Noncontrolling interests remained relatively stable and low, around 1.66% to 2.82%, with minimal variation, signaling a limited role of minority interests in equity financing.
Total equity
Total equity declined steadily from 55.89% in early 2020 to approximately 46.6% by late 2025, supporting the observation of an increasing leverage profile as liabilities' share rose concurrently.
Total liabilities and equity
This balance remained consistently at 100%, confirming proportional allocation between liabilities and equity components as per accounting principles.