Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Paying user area
Try for free
Linde plc pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Analysis of Debt
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Linde plc for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Linde plc, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
An analysis of the common-size balance sheet reveals a gradual shift in the capital structure, characterized by a steady increase in total liabilities and a corresponding decline in total equity over the observed period. Total liabilities rose from 43.96% in March 2021 to 53.55% by March 2026, indicating a higher reliance on external financing and obligations relative to the total asset base.
- Debt and Liability Trends
- The increase in total liabilities is primarily driven by a significant expansion in long-term debt, which nearly doubled from 11.71% in March 2021 to 23.01% in March 2026. While current liabilities remained relatively stable, fluctuating between 16.7% and 22.2%, short-term debt showed a general upward trajectory, rising from 3.85% to 5.59% over the period. Other long-term liabilities experienced a slight contraction, moving from 14.57% to 12.71%, suggesting that the company has pivoted toward formal long-term debt instruments rather than other long-term obligations.
- Equity Composition and Volatility
- Total equity declined from 56.03% in March 2021 to 46.43% by March 2026. A notable volatility occurred in the first quarter of 2023, where retained earnings dropped sharply from 25.79% in December 2022 to 7.59% in March 2023, and treasury shares moved from -18.50% to -0.21%. This suggests a significant accounting reorganization or a large-scale capital event during that period. Following this reset, retained earnings trended upward again, reaching 20.44% by March 2026, while treasury shares steadily increased in negative value to -14.02%, reflecting ongoing share buyback activity.
- Liquidity and Current Obligations
- Current liabilities as a percentage of total liabilities and equity stayed within a range of 16.8% to 22.2%. Accounts payable remained relatively consistent, though a slight downward trend is observable in the latter half of the period, moving from 4.29% in December 2021 to 3.08% in March 2026. Contract liabilities also saw a decrease, falling from a peak of 4.12% in June 2023 to 1.35% by March 2026, indicating a reduction in deferred revenue relative to the total balance sheet.
- Overall Solvency Position
- The capital structure has transitioned from one where equity exceeded liabilities (56.03% equity vs 43.96% liabilities in March 2021) to one where liabilities now exceed equity (53.55% liabilities vs 46.43% equity in March 2026). This shift is underscored by the aggressive growth in long-term borrowing and the persistent negative impact of treasury shares and accumulated other comprehensive losses on total equity.