Return on Assets (ROA)
since 2005
Calculation
Linde plc, ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income, Linde plc1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2024 | 8.19% | = | 100 | × | 6,565) | ÷ | 80,147) |
| Dec 31, 2023 | 7.67% | = | 100 | × | 6,199) | ÷ | 80,811) |
| Dec 31, 2022 | 5.21% | = | 100 | × | 4,147) | ÷ | 79,658) |
| Dec 31, 2021 | 4.69% | = | 100 | × | 3,826) | ÷ | 81,605) |
| Dec 31, 2020 | 2.83% | = | 100 | × | 2,501) | ÷ | 88,229) |
| Dec 31, 2019 | 2.64% | = | 100 | × | 2,285) | ÷ | 86,612) |
| Dec 31, 2018 | 4.69% | = | 100 | × | 4,381) | ÷ | 93,386) |
| Dec 31, 2017 | 6.10% | = | 100 | × | 1,247) | ÷ | 20,436) |
| Dec 31, 2016 | 7.76% | = | 100 | × | 1,500) | ÷ | 19,332) |
| Dec 31, 2015 | 8.44% | = | 100 | × | 1,547) | ÷ | 18,319) |
| Dec 31, 2014 | 8.55% | = | 100 | × | 1,694) | ÷ | 19,802) |
| Dec 31, 2013 | 8.66% | = | 100 | × | 1,755) | ÷ | 20,255) |
| Dec 31, 2012 | 9.35% | = | 100 | × | 1,692) | ÷ | 18,090) |
| Dec 31, 2011 | 10.22% | = | 100 | × | 1,672) | ÷ | 16,356) |
| Dec 31, 2010 | 7.82% | = | 100 | × | 1,195) | ÷ | 15,274) |
| Dec 31, 2009 | 8.76% | = | 100 | × | 1,254) | ÷ | 14,317) |
| Dec 31, 2008 | 9.28% | = | 100 | × | 1,211) | ÷ | 13,054) |
| Dec 31, 2007 | 8.80% | = | 100 | × | 1,177) | ÷ | 13,382) |
| Dec 31, 2006 | 8.90% | = | 100 | × | 988) | ÷ | 11,102) |
| Dec 31, 2005 | 6.92% | = | 100 | × | 726) | ÷ | 10,491) |
Based on: 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
- Net Income Trends
- The net income showed a general upward trajectory over the analyzed period, increasing from $726 million in 2005 to $6,565 million in 2024. Notable peaks occurred in 2018 with $4,381 million and continuing strong performance thereafter, reaching the highest value in 2024. A slight dip was observed between 2014 and 2017, with a significant reduction in 2018 followed by a strong recovery.
- Total Assets Trends
- Total assets increased steadily from $10,491 million in 2005 to a peak of $93,386 million in 2018, indicating significant asset growth during this period. However, from 2018 onward, there was a decline to $80,147 million by 2024, suggesting divestitures, asset sales, or other reductions in asset base.
- Return on Assets (ROA) Trends
- ROA showed fluctuations throughout the period, starting at 6.92% in 2005, peaking at 10.22% in 2011, then declining to a low of 2.64% in 2018. After 2018, the ROA improved steadily, reaching 8.19% in 2024. The initial increase reflects improved efficiency, followed by a drop coinciding with rapid asset growth, and a recovery as net income rose relatively faster than assets post-2018.
- Overall Analysis
- The financial data reveals a phase of rapid asset expansion from 2005 through 2018, accompanied by fluctuating profitability as indicated by ROA. The decline in total assets after 2018, coupled with the continued increase in net income and improving ROA, suggests a strategic focus on enhancing asset efficiency and profitability. This shift likely contributed to stronger returns and improved financial performance in recent years.
Comparison to Competitors
Linde plc, ROA, long-term trends, comparison to competitors
| Linde plc | Sherwin-Williams Co. | |
|---|---|---|
| Dec 31, 2024 | 8.19% | 11.35% |
| Dec 31, 2023 | 7.67% | 10.41% |
| Dec 31, 2022 | 5.21% | 8.94% |
| Dec 31, 2021 | 4.69% | 9.02% |
| Dec 31, 2020 | 2.83% | 9.95% |
| Dec 31, 2019 | 2.64% | 7.52% |
| Dec 31, 2018 | 4.69% | 5.79% |
| Dec 31, 2017 | 6.10% | 8.88% |
| Dec 31, 2016 | 7.76% | 16.77% |
| Dec 31, 2015 | 8.44% | 18.20% |
| Dec 31, 2014 | 8.55% | 15.17% |
| Dec 31, 2013 | 8.66% | 11.79% |
| Dec 31, 2012 | 9.35% | 10.12% |
| Dec 31, 2011 | 10.22% | 8.45% |
| Dec 31, 2010 | 7.82% | 8.95% |
| Dec 31, 2009 | 8.76% | 10.08% |
| Dec 31, 2008 | 9.28% | 10.80% |
| Dec 31, 2007 | 8.80% | 12.68% |
| Dec 31, 2006 | 8.90% | 11.53% |
| Dec 31, 2005 | 6.92% | 10.60% |
Based on: 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, ROA, long-term trends, comparison to sector (chemicals)
| Linde plc | Chemicals | |
|---|---|---|
| Dec 31, 2024 | 8.19% | 8.91% |
| Dec 31, 2023 | 7.67% | 8.28% |
| Dec 31, 2022 | 5.21% | 6.03% |
| Dec 31, 2021 | 4.69% | 5.56% |
| Dec 31, 2020 | 2.83% | 4.17% |
| Dec 31, 2019 | 2.64% | 3.57% |
| Dec 31, 2018 | 4.69% | 4.88% |
| Dec 31, 2017 | 6.10% | 7.47% |
| Dec 31, 2016 | 7.76% | 10.09% |
| Dec 31, 2015 | 8.44% | 10.79% |
| Dec 31, 2014 | 8.55% | 10.04% |
| Dec 31, 2013 | 8.66% | 9.41% |
| Dec 31, 2012 | 9.35% | 9.55% |
| Dec 31, 2011 | 10.22% | 9.79% |
| Dec 31, 2010 | 7.82% | 8.11% |
| Dec 31, 2009 | 8.76% | 9.07% |
| Dec 31, 2008 | 9.28% | 9.66% |
| Dec 31, 2007 | 8.80% | 9.83% |
| Dec 31, 2006 | 8.90% | 9.72% |
| Dec 31, 2005 | 6.92% | 8.00% |
Based on: 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, ROA, long-term trends, comparison to industry (materials)
| Linde plc | Materials | |
|---|---|---|
| Dec 31, 2024 | 8.19% | 7.02% |
| Dec 31, 2023 | 7.67% | 6.68% |
| Dec 31, 2022 | 5.21% | 6.28% |
| Dec 31, 2021 | 4.69% | 6.65% |
| Dec 31, 2020 | 2.83% | 3.40% |
| Dec 31, 2019 | 2.64% | 2.43% |
| Dec 31, 2018 | 4.69% | 5.23% |
| Dec 31, 2017 | 6.10% | 6.22% |
| Dec 31, 2016 | 7.76% | -2.40% |
| Dec 31, 2015 | 8.44% | -13.63% |
| Dec 31, 2014 | 8.55% | 1.48% |
| Dec 31, 2013 | 8.66% | 5.73% |
| Dec 31, 2012 | 9.35% | 8.98% |
| Dec 31, 2011 | 10.22% | 12.44% |
| Dec 31, 2010 | 7.82% | 12.03% |
| Dec 31, 2009 | 8.76% | 9.94% |
| Dec 31, 2008 | 9.28% | -22.98% |
| Dec 31, 2007 | 8.80% | 8.10% |
| Dec 31, 2006 | 8.90% | 14.06% |
| Dec 31, 2005 | 6.92% | 10.70% |
Based on: 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).