Stock Analysis on Net

Linde plc (NASDAQ:LIN)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Linde plc, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 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
Accounts payable
Short-term debt
Current portion of long-term debt
Contract liabilities
Other current liabilities
Current liabilities
Long-term debt, excluding current portion
Other long-term liabilities
Long-term liabilities
Total liabilities
Redeemable noncontrolling interests
Ordinary shares, €0.001 par value
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Treasury shares, at cost
Total Linde plc shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 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), 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).


Current liabilities
The proportion of current liabilities relative to total liabilities and equity decreased from 18.36% in March 2020 to a low of 15.57% by December 2020, followed by a general upward trend peaking around 22.15% in March 2023. Subsequently, it fluctuated moderately, staying in the range of approximately 16.83% to 19.45%, ending near 17.09% in June 2025. This indicates some variability but relatively stable short-term obligations over the period.
Accounts payable
Accounts payable as a percentage of total liabilities and equity showed minor fluctuations, starting around 3.51% in March 2020, climbing slightly to a peak above 4.3% in mid-2022, and then trending downward to approximately 3.0% by mid-2025. This suggests modest variation in trade payables relative to the company’s financial structure.
Short-term debt
Short-term debt displayed notable volatility. Initially decreasing from 5.75% in March 2020 to 1.43% by December 2021, it then rose sharply, reaching 6.65% in March 2023, followed by fluctuations around 4-5% and a steady rise toward 5.67% by June 2025. The irregular pattern may reflect refinancing activities or adjustments in short-term financing strategies.
Current portion of long-term debt
This category varied between about 0.85% and 3.17%, with no clear upward or downward long-term trend. It peaked at 3.17% in June 2020, declined in subsequent years, and ended near 1.56% in June 2025, indicating stable yet modest maturity amounts due within one year relative to total liabilities and equity.
Contract liabilities
Contract liabilities increased from 2.2% in March 2020 to a high of 4.12% in June 2023, with a notable peak at 3.9% at the end of 2022, before declining steadily to approximately 1.46% by June 2025. This decline after mid-2023 may reflect changes in deferred revenue or advances received.
Other current liabilities
Other current liabilities generally rose from 4.52% in March 2020 to around 5.9% in 2022 and 2023, after which the proportion slowly decreased to about 5.39% by June 2025. The relative stability indicates consistent non-specific current liabilities.
Long-term debt excluding current portion
A clear upward trend appears in long-term debt, increasing from about 11.88% in March 2020 to nearly 22.89% by June 2025. Several intermittent increases around mid-2023 and early 2024 suggest incremental borrowing or refinancing reflected in growing long-term obligations.
Other long-term liabilities
Other long-term liabilities remained relatively stable, fluctuating narrowly between roughly 11.76% and 14.77%, with a mild decreasing trend from 13.77% in early 2020 to around 13.57% by mid-2025, indicating managed and consistent longer-term obligations excluding debt.
Total liabilities
Total liabilities as a percentage of total liabilities and equity showed a gradual but persistent increase over the period: from 44.00% in March 2020 rising to 53.55% by June 2025. This steady rise reflects an increasing leverage or reliance on liabilities in capital structure.
Shareholders’ equity
Total shareholders’ equity exhibited a declining trend from approximately 55.89% in March 2020 to 46.44% by June 2025. The incrementally reduced equity percentage reflects either growth in liabilities outpacing equity or distributions affecting equity levels.
Additional paid-in capital and retained earnings
Additional paid-in capital mostly fluctuated between 45.79% and 53.83%, peaking around late 2022 and early 2023, but gradually declining afterward. Retained earnings increased steadily from about 19.97% in March 2020 to approximately 16.96% in June 2025, though with a significant drop during 2023 before recovering, indicating impact from possible distributions or accounting adjustments during that year followed by recovery.
Accumulated other comprehensive loss
This item fluctuated significantly with negative figures throughout, moving from -8.76% in early 2020, upward slightly to around -5.32%, and then deepening to around -10.89% by late 2022 before settling near -7.26% by mid-2025. The volatility in comprehensive loss suggests variable impacts from foreign currency translation, hedging, or other comprehensive income components.
Treasury shares
Treasury shares as a percentage of total liabilities and equity increased in absolute terms (negative direction) from about -5.77% in early 2020 to roughly -19.02% by September 2022, followed by a sharp reversal to near -0.21% in early 2023, then resuming a rising negative trend toward -10.74% by mid-2025. This suggests active repurchase and subsequent reissuance or cancellation of shares impacting treasury share balances.
Overall capital structure
The company’s capital structure evolved with a gradual increase in liabilities from 44% to over 53%, counterbalanced by a decline in equity from nearly 56% to under 47%. The increasing long-term debt and fluctuating short-term debt indicate a shift toward more debt financing, while stable but fluctuating other liabilities and equity components suggest active management of financial leverage and shareholder distributions.