Stock Analysis on Net

Linde plc (NASDAQ:LIN)

Common-Size Income Statement
Quarterly Data

Linde plc, common-size consolidated income statement (quarterly data)

Microsoft Excel
3 months ended: 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
Sales 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales, exclusive of depreciation and amortization -53.37 -52.90 -52.61 -54.08 -56.05 -60.08 -58.41 -58.43 -59.38 -56.96 -55.30 -55.97 -56.19 -55.94 -56.75 -57.03 -59.14 -58.01 -59.41 -59.27
Gross margin 46.63% 47.10% 47.39% 45.92% 43.95% 39.92% 41.59% 41.57% 40.62% 43.04% 44.70% 44.03% 43.81% 44.06% 43.25% 42.97% 40.86% 41.99% 40.59% 40.73%
Selling, general and administrative -10.02 -9.91 -10.15 -10.03 -9.67 -8.75 -9.12 -9.77 -9.48 -10.34 -10.84 -10.87 -11.03 -11.23 -11.92 -12.78 -11.92 -12.14 -12.27 -12.66
Depreciation and amortization -11.43 -11.76 -11.70 -11.57 -12.10 -11.88 -12.90 -13.54 -13.68 -15.17 -15.44 -16.10 -16.39 -17.04 -17.63 -16.95 -16.41 -15.64 -16.59 -17.61
Research and development -0.47 -0.44 -0.43 -0.44 -0.46 -0.40 -0.44 -0.43 -0.46 -0.47 -0.45 -0.48 -0.52 -0.53 -0.53 -0.65 -0.69 -0.63 -0.62 -0.66
Other charges 0.02 -0.02 -0.27 -0.22 -0.32 -0.17 -11.74 0.05 -0.61 -0.34 -2.69 0.11 -1.07 -0.70 -3.90 -1.94 -2.99 -1.79 -1.96 -1.28
Net gain on sale of businesses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.34 0.00 0.00
Other income (expense), net -0.30 0.20 -0.33 -0.06 -0.05 -0.39 -0.43 0.15 -0.28 0.13 -0.22 0.06 -0.65 -0.42 0.00 0.22 0.41 0.16 0.14 0.26
Operating profit 24.43% 25.16% 24.51% 23.59% 21.36% 18.34% 6.96% 18.02% 16.11% 16.85% 15.06% 16.75% 14.15% 14.14% 9.27% 10.88% 9.25% 14.29% 9.29% 8.77%
Interest expense, net -0.86 -0.49 -0.63 -0.45 -0.39 -0.20 -0.06 -0.11 -0.37 -0.10 -0.24 -0.28 -0.48 -0.55 -0.28 -0.36 -0.11 0.04 -0.14 -0.33
Net pension and OPEB (cost) benefit, excluding service cost 0.47 0.43 0.55 0.55 0.73 0.60 0.73 0.78 0.59 0.59 0.65 0.68 0.63 0.60 0.71 0.67 0.35 -0.03 0.33 -0.22
Income before income taxes and equity investments 24.04% 25.10% 24.43% 23.69% 21.70% 18.73% 7.64% 18.69% 16.33% 17.33% 15.47% 17.15% 14.30% 14.18% 9.69% 11.19% 9.49% 14.30% 9.48% 8.22%
Income taxes -5.53 -5.97 -5.34 -5.25 -4.91 -4.44 -3.38 -4.49 -4.09 -4.19 -4.40 -3.70 -3.48 -3.87 -2.57 -2.45 -2.29 -4.26 -2.35 -2.02
Income from continuing operations before equity investments 18.51% 19.13% 19.09% 18.44% 16.79% 14.29% 4.26% 14.20% 12.24% 13.15% 11.06% 13.45% 10.82% 10.31% 7.12% 8.74% 7.20% 10.04% 7.13% 6.21%
Income from equity investments 0.47 0.50 0.56 0.50 0.44 0.49 0.59 0.54 0.46 0.01 0.49 0.59 0.22 0.34 0.45 0.25 0.34 0.40 0.39 0.49
Income from continuing operations, including noncontrolling interests 18.98% 19.63% 19.65% 18.94% 17.23% 14.78% 4.85% 14.74% 12.70% 13.16% 11.55% 14.04% 11.04% 10.65% 7.57% 8.99% 7.54% 10.44% 7.52% 6.70%
Income from discontinued operations, net of tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.01 0.01 0.01 0.01 0.01 0.00 0.03 0.06 0.10 0.12 1.28
Net income, including noncontrolling interests 18.98% 19.63% 19.65% 18.94% 17.23% 14.78% 4.85% 14.74% 12.73% 13.17% 11.56% 14.05% 11.06% 10.66% 7.57% 9.02% 7.60% 10.54% 7.65% 7.98%
Noncontrolling interests -0.40 -0.44 -0.45 -0.44 -0.42 -0.31 -0.45 -0.44 -0.36 -0.40 -0.47 -0.52 -0.47 -0.45 -0.39 -0.52 -0.38 -0.04 -0.40 -0.53
Net income, Linde plc 18.59% 19.19% 19.20% 18.50% 16.81% 14.47% 4.40% 14.30% 12.36% 12.77% 11.09% 13.53% 10.59% 10.21% 7.18% 8.50% 7.22% 10.50% 7.25% 7.45%

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).

Income statement item Description The company
Operating profit The net result for the period of deducting operating expenses from operating revenues. Linde plc operating profit as a percentage of sales increased from Q2 2023 to Q3 2023 but then decreased significantly from Q3 2023 to Q4 2023.
Net income, Linde plc The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Linde plc net income, Linde plc as a percentage of sales decreased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.