Net Profit Margin
since 2005
Calculation
Linde plc, net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income, Linde plc1 | ÷ | Sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 20.30% | = | 100 | × | 6,898) | ÷ | 33,986) |
| Dec 31, 2024 | 19.89% | = | 100 | × | 6,565) | ÷ | 33,005) |
| Dec 31, 2023 | 18.87% | = | 100 | × | 6,199) | ÷ | 32,854) |
| Dec 31, 2022 | 12.43% | = | 100 | × | 4,147) | ÷ | 33,364) |
| Dec 31, 2021 | 12.42% | = | 100 | × | 3,826) | ÷ | 30,793) |
| Dec 31, 2020 | 9.18% | = | 100 | × | 2,501) | ÷ | 27,243) |
| Dec 31, 2019 | 8.09% | = | 100 | × | 2,285) | ÷ | 28,228) |
| Dec 31, 2018 | 29.40% | = | 100 | × | 4,381) | ÷ | 14,900) |
| Dec 31, 2017 | 10.90% | = | 100 | × | 1,247) | ÷ | 11,437) |
| Dec 31, 2016 | 14.24% | = | 100 | × | 1,500) | ÷ | 10,534) |
| Dec 31, 2015 | 14.36% | = | 100 | × | 1,547) | ÷ | 10,776) |
| Dec 31, 2014 | 13.80% | = | 100 | × | 1,694) | ÷ | 12,273) |
| Dec 31, 2013 | 14.72% | = | 100 | × | 1,755) | ÷ | 11,925) |
| Dec 31, 2012 | 15.07% | = | 100 | × | 1,692) | ÷ | 11,224) |
| Dec 31, 2011 | 14.86% | = | 100 | × | 1,672) | ÷ | 11,252) |
| Dec 31, 2010 | 11.81% | = | 100 | × | 1,195) | ÷ | 10,116) |
| Dec 31, 2009 | 14.00% | = | 100 | × | 1,254) | ÷ | 8,956) |
| Dec 31, 2008 | 11.22% | = | 100 | × | 1,211) | ÷ | 10,796) |
| Dec 31, 2007 | 12.52% | = | 100 | × | 1,177) | ÷ | 9,402) |
| Dec 31, 2006 | 11.87% | = | 100 | × | 988) | ÷ | 8,324) |
| Dec 31, 2005 | 9.48% | = | 100 | × | 726) | ÷ | 7,656) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The net profit margin exhibited a generally increasing trend from 2005 through 2009, followed by fluctuations before a significant surge in 2018. Subsequent years demonstrate a return to more moderate, yet consistently positive, margins, culminating in a peak in 2025.
- Initial Growth (2005-2009)
- From 2005 to 2009, the net profit margin increased from 9.48% to 14.00%. This period indicates improving profitability, potentially driven by operational efficiencies or favorable market conditions. The increase was not linear, with a slight dip observed between 2008 and 2009.
- Period of Fluctuations (2010-2017)
- Between 2010 and 2017, the net profit margin experienced considerable volatility, ranging from approximately 10.90% to 14.86%. While remaining positive, this period suggests a less predictable profitability landscape, potentially influenced by economic cycles or company-specific factors. A notable decrease is observed in 2017, falling to 10.90%.
- Significant Increase and Subsequent Moderation (2018-2025)
- A dramatic increase in net profit margin occurred in 2018, reaching 29.40%. This substantial improvement is followed by a decline to 8.09% in 2019, then a recovery and steady growth through 2025. From 2019 to 2025, the margin increased from 8.09% to 20.30%, indicating a return to strong profitability. The values for 2022, 2023, 2024 and 2025 are all above 18.87%, suggesting a sustained period of high performance.
- Relationship to Sales
- While net income and sales generally increased over the period, the net profit margin demonstrates that the rate of profit growth did not always align with the rate of sales growth. The large margin in 2018 occurred alongside a significant increase in sales, but the subsequent years show margin improvements even with relatively stable sales figures, suggesting improved cost control or pricing strategies.
Overall, the net profit margin demonstrates a long-term positive trajectory, punctuated by periods of fluctuation and a particularly strong performance in recent years. The company appears to have successfully navigated various economic conditions and implemented strategies to enhance profitability.
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Comparison to Competitors
Linde plc, net profit margin, long-term trends, comparison to competitors
| Linde plc | Sherwin-Williams Co. | |
|---|---|---|
| Dec 31, 2025 | 20.30% | 10.90% |
| Dec 31, 2024 | 19.89% | 11.61% |
| Dec 31, 2023 | 18.87% | 10.36% |
| Dec 31, 2022 | 12.43% | 9.12% |
| Dec 31, 2021 | 12.42% | 9.35% |
| Dec 31, 2020 | 9.18% | 11.06% |
| Dec 31, 2019 | 8.09% | 8.61% |
| Dec 31, 2018 | 29.40% | 6.32% |
| Dec 31, 2017 | 10.90% | 11.83% |
| Dec 31, 2016 | 14.24% | 9.55% |
| Dec 31, 2015 | 14.36% | 9.29% |
| Dec 31, 2014 | 13.80% | 7.78% |
| Dec 31, 2013 | 14.72% | 7.39% |
| Dec 31, 2012 | 15.07% | 6.62% |
| Dec 31, 2011 | 14.86% | 5.04% |
| Dec 31, 2010 | 11.81% | 5.95% |
| Dec 31, 2009 | 14.00% | 6.14% |
| Dec 31, 2008 | 11.22% | 5.98% |
| Dec 31, 2007 | 12.52% | 7.69% |
| Dec 31, 2006 | 11.87% | 7.38% |
| Dec 31, 2005 | 9.48% | 6.44% |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Chemicals)
Linde plc, net profit margin, long-term trends, comparison to sector (chemicals)
| Linde plc | Chemicals | |
|---|---|---|
| Dec 31, 2025 | 20.30% | 16.45% |
| Dec 31, 2024 | 19.89% | 16.48% |
| Dec 31, 2023 | 18.87% | 15.36% |
| Dec 31, 2022 | 12.43% | 11.11% |
| Dec 31, 2021 | 12.42% | 11.22% |
| Dec 31, 2020 | 9.18% | 9.94% |
| Dec 31, 2019 | 8.09% | 8.29% |
| Dec 31, 2018 | 29.40% | 16.93% |
| Dec 31, 2017 | 10.90% | 11.43% |
| Dec 31, 2016 | 14.24% | 11.76% |
| Dec 31, 2015 | 14.36% | 11.76% |
| Dec 31, 2014 | 13.80% | 10.94% |
| Dec 31, 2013 | 14.72% | 11.34% |
| Dec 31, 2012 | 15.07% | 11.19% |
| Dec 31, 2011 | 14.86% | 10.56% |
| Dec 31, 2010 | 11.81% | 9.26% |
| Dec 31, 2009 | 14.00% | 10.53% |
| Dec 31, 2008 | 11.22% | 8.99% |
| Dec 31, 2007 | 12.52% | 10.30% |
| Dec 31, 2006 | 11.87% | 9.69% |
| Dec 31, 2005 | 9.48% | 8.01% |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
Linde plc, net profit margin, long-term trends, comparison to industry (materials)
| Linde plc | Materials | |
|---|---|---|
| Dec 31, 2025 | 20.30% | 13.98% |
| Dec 31, 2024 | 19.89% | 13.65% |
| Dec 31, 2023 | 18.87% | 13.25% |
| Dec 31, 2022 | 12.43% | 12.31% |
| Dec 31, 2021 | 12.42% | 13.59% |
| Dec 31, 2020 | 9.18% | 8.58% |
| Dec 31, 2019 | 8.09% | 5.93% |
| Dec 31, 2018 | 29.40% | 15.85% |
| Dec 31, 2017 | 10.90% | 11.29% |
| Dec 31, 2016 | 14.24% | -4.09% |
| Dec 31, 2015 | 14.36% | -25.36% |
| Dec 31, 2014 | 13.80% | 2.79% |
| Dec 31, 2013 | 14.72% | 12.00% |
| Dec 31, 2012 | 15.07% | 13.84% |
| Dec 31, 2011 | 14.86% | 16.32% |
| Dec 31, 2010 | 11.81% | 16.25% |
| Dec 31, 2009 | 14.00% | 14.28% |
| Dec 31, 2008 | 11.22% | -25.65% |
| Dec 31, 2007 | 12.52% | 13.89% |
| Dec 31, 2006 | 11.87% | 13.78% |
| Dec 31, 2005 | 9.48% | 11.48% |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).