Stock Analysis on Net

Linde plc (NASDAQ:LIN)

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DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

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Two-Component Disaggregation of ROE

Linde plc, decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
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 = ×
Dec 31, 2019 = ×
Sep 30, 2019 = ×
Jun 30, 2019 = ×
Mar 31, 2019 = ×

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the increase in return on equity ratio (ROE) over Q4 2023 is the increase in financial leverage ratio.


Three-Component Disaggregation of ROE

Linde plc, decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
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 = × ×
Dec 31, 2019 = × ×
Sep 30, 2019 = × ×
Jun 30, 2019 = × ×
Mar 31, 2019 = × ×

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the increase in return on equity ratio (ROE) over Q4 2023 is the increase in profitability measured by net profit margin ratio.


Two-Component Disaggregation of ROA

Linde plc, decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
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 = ×
Dec 31, 2019 = ×
Sep 30, 2019 = ×
Jun 30, 2019 = ×
Mar 31, 2019 = ×

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The primary reason for the decrease in return on assets ratio (ROA) over Q4 2023 is the decrease in asset turnover ratio.