Operating Profit Margin
since 2005
Calculation
Linde plc, operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating profit1 | ÷ | Sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 26.25% | = | 100 | × | 8,923) | ÷ | 33,986) |
| Dec 31, 2024 | 26.16% | = | 100 | × | 8,635) | ÷ | 33,005) |
| Dec 31, 2023 | 24.42% | = | 100 | × | 8,024) | ÷ | 32,854) |
| Dec 31, 2022 | 16.09% | = | 100 | × | 5,369) | ÷ | 33,364) |
| Dec 31, 2021 | 16.19% | = | 100 | × | 4,984) | ÷ | 30,793) |
| Dec 31, 2020 | 12.19% | = | 100 | × | 3,322) | ÷ | 27,243) |
| Dec 31, 2019 | 10.39% | = | 100 | × | 2,933) | ÷ | 28,228) |
| Dec 31, 2018 | 35.21% | = | 100 | × | 5,247) | ÷ | 14,900) |
| Dec 31, 2017 | 21.40% | = | 100 | × | 2,448) | ÷ | 11,437) |
| Dec 31, 2016 | 21.25% | = | 100 | × | 2,238) | ÷ | 10,534) |
| Dec 31, 2015 | 21.54% | = | 100 | × | 2,321) | ÷ | 10,776) |
| Dec 31, 2014 | 21.25% | = | 100 | × | 2,608) | ÷ | 12,273) |
| Dec 31, 2013 | 22.01% | = | 100 | × | 2,625) | ÷ | 11,925) |
| Dec 31, 2012 | 21.71% | = | 100 | × | 2,437) | ÷ | 11,224) |
| Dec 31, 2011 | 21.93% | = | 100 | × | 2,468) | ÷ | 11,252) |
| Dec 31, 2010 | 20.58% | = | 100 | × | 2,082) | ÷ | 10,116) |
| Dec 31, 2009 | 17.59% | = | 100 | × | 1,575) | ÷ | 8,956) |
| Dec 31, 2008 | 17.44% | = | 100 | × | 1,883) | ÷ | 10,796) |
| Dec 31, 2007 | 19.00% | = | 100 | × | 1,786) | ÷ | 9,402) |
| Dec 31, 2006 | 18.25% | = | 100 | × | 1,519) | ÷ | 8,324) |
| Dec 31, 2005 | 16.89% | = | 100 | × | 1,293) | ÷ | 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 operating profit margin exhibited a generally increasing trend from 2005 through 2008, followed by a period of fluctuation before demonstrating substantial growth in later years. Initial values ranged from 16.89% to 19.00% between 2005 and 2007, then decreased to 17.44% in 2008. The period between 2009 and 2014 showed relative stability, with the margin oscillating between approximately 17.59% and 22.01%. A significant surge occurred in 2018, reaching 35.21%, before declining sharply in 2019. From 2020 onward, the margin experienced consistent growth, culminating in values of 24.42%, 26.16%, and 26.25% in 2022, 2023, and 2024 respectively.
- Overall Trend
- The long-term trend indicates an overall improvement in profitability as measured by the operating profit margin. While short-term volatility exists, the margin has generally increased from its initial levels in the mid-2000s, with a particularly strong performance in the most recent years.
- Period of Stability (2009-2014)
- Between 2009 and 2014, the operating profit margin remained within a relatively narrow range. This suggests a period of consistent, but not exceptional, operational performance. Fluctuations within this period were minor and did not indicate a clear directional trend.
- Significant Increase (2018)
- The substantial increase in the operating profit margin in 2018 is a notable outlier. This suggests a significant improvement in operational efficiency, pricing power, or a favorable shift in the cost structure during that year. However, this improvement was not sustained in the following year.
- Recent Growth (2020-2025)
- The period from 2020 to 2025 demonstrates a clear upward trend in the operating profit margin. This sustained growth suggests successful implementation of strategies to improve profitability, potentially including cost control measures, increased sales volume, or a shift towards higher-margin products or services. The margin reached its highest point in the observed period in 2025 at 26.25%.
The operating profit itself also shows a general upward trend, though with more pronounced fluctuations than the margin. The largest absolute increase in operating profit occurred between 2017 and 2018, coinciding with the peak in operating profit margin. Sales also increased over the period, but the growth in operating profit outpaced the growth in sales in several instances, contributing to the observed margin expansion.
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