Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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Linde plc pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Operating Profit (P/OP) since 2005
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Linde plc, consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
Revenue demonstrates a consistent long-term upward trajectory, increasing from $7,243 million in March 2021 to $8,781 million by March 2026. Despite a temporary contraction in late 2022, where sales dipped to $7,899 million, the top line has maintained a steady recovery and growth pattern over the analyzed period.
- Gross Profitability and Margin Expansion
- Gross margin has expanded significantly, rising from $3,189 million in the first quarter of 2021 to $4,258 million by the first quarter of 2026. This growth outpaces the rate of revenue increase, suggesting improved production efficiency or favorable pricing power. The gross margin trend remains robustly positive with minimal volatility.
- Operating Performance and Cost Structure
- Operating profit shows a strong overall increase, growing from $1,213 million to $2,439 million. A notable anomaly occurred in June 2022, where operating profit fell to $589 million due to a substantial cost reduction program charge of $993 million. Excluding this one-time event, the operational trend is characterized by steady growth. Selling, general, and administrative expenses have remained relatively controlled, scaling slowly from $787 million to $893 million. Depreciation and amortization expenses have trended downward, declining from $1,166 million to $951 million, which has contributed positively to the operating margin.
- Net Income and Bottom-Line Trends
- Net income attributable to Linde plc has followed the upward trajectory of operating profit, increasing from $980 million in March 2021 to $1,857 million in March 2026. The growth in net income is mirrored by a corresponding increase in income tax expenses, which rose from $268 million to $571 million over the same period. The consistency of income from equity investments, typically ranging between $33 million and $50 million per quarter, has provided a stable secondary revenue stream.
- Non-Recurring Items and Financial Volatility
- The financial results are periodically impacted by cost reduction programs and other charges. Significant charges were recorded in June 2022 ($993 million), September 2024 ($145 million), and December 2025 ($229 million). These items create short-term volatility in operating and net income but do not disrupt the underlying long-term growth trend in core profitability.
Overall, the financial profile is characterized by expanding margins, disciplined expense management, and a strong growth trend in both operating and net profitability, despite occasional non-recurring operational charges.