Current Ratio
since 2005
Calculation
Linde plc, current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 0.88 | = | 13,325) | ÷ | 15,198) |
| Dec 31, 2024 | 0.89 | = | 12,945) | ÷ | 14,544) |
| Dec 31, 2023 | 0.80 | = | 12,620) | ÷ | 15,717) |
| Dec 31, 2022 | 0.79 | = | 13,047) | ÷ | 16,479) |
| Dec 31, 2021 | 0.74 | = | 10,159) | ÷ | 13,643) |
| Dec 31, 2020 | 0.80 | = | 10,924) | ÷ | 13,740) |
| Dec 31, 2019 | 0.85 | = | 10,352) | ÷ | 12,160) |
| Dec 31, 2018 | 1.33 | = | 17,272) | ÷ | 12,956) |
| Dec 31, 2017 | 0.99 | = | 3,285) | ÷ | 3,307) |
| Dec 31, 2016 | 1.16 | = | 2,880) | ÷ | 2,478) |
| Dec 31, 2015 | 1.39 | = | 2,626) | ÷ | 1,893) |
| Dec 31, 2014 | 1.14 | = | 2,839) | ÷ | 2,490) |
| Dec 31, 2013 | 1.09 | = | 2,916) | ÷ | 2,664) |
| Dec 31, 2012 | 1.13 | = | 2,792) | ÷ | 2,479) |
| Dec 31, 2011 | 1.03 | = | 2,607) | ÷ | 2,535) |
| Dec 31, 2010 | 1.13 | = | 2,378) | ÷ | 2,110) |
| Dec 31, 2009 | 1.23 | = | 2,223) | ÷ | 1,813) |
| Dec 31, 2008 | 0.77 | = | 2,301) | ÷ | 2,979) |
| Dec 31, 2007 | 0.91 | = | 2,408) | ÷ | 2,650) |
| Dec 31, 2006 | 1.17 | = | 2,059) | ÷ | 1,758) |
| Dec 31, 2005 | 1.07 | = | 2,133) | ÷ | 2,001) |
Based on: 10-K (reporting date: 2025-12-31), 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
The current ratio exhibited fluctuations over the observed period, spanning from 2005 to 2025. Initially, the ratio demonstrated an increase from 1.07 in 2005 to a peak of 1.23 in 2009. Subsequently, a decline was noted, reaching 0.77 in 2008 and continuing to 0.91 in 2007, before recovering somewhat.
- Initial Period (2005-2009)
- The period between 2005 and 2009 showed relative stability with a general upward trend, peaking in 2009. This suggests a strengthening of the short-term liquidity position during these years. However, the dip in 2008 indicates a temporary weakening, potentially linked to broader economic conditions.
- Post-2009 Fluctuations (2010-2017)
- From 2010 through 2017, the current ratio experienced continued volatility, oscillating between approximately 0.99 and 1.39. While generally remaining above 1.0, indicating sufficient current assets to cover current liabilities, the fluctuations suggest inconsistent short-term financial health. A notable peak occurred in 2015 at 1.39.
- Significant Changes (2018-2020)
- A substantial shift occurred beginning in 2018. The current ratio decreased significantly, falling from 0.99 in 2017 to 0.85 in 2018, 0.80 in 2019, and further to 0.80 in 2020. This decline suggests a weakening in the company’s ability to meet its short-term obligations, potentially due to an increase in current liabilities or a decrease in current assets, or a combination of both. The large values for current assets and current liabilities in 2018-2020 suggest a possible restructuring or significant change in working capital management.
- Recent Trends (2021-2025)
- From 2021 to 2025, the current ratio remained relatively stable, fluctuating between 0.74 and 0.89. While still below the levels observed in the earlier part of the period, the ratio did not exhibit further significant decline. The values suggest a consistent, albeit somewhat constrained, short-term liquidity position. The ratio ended at 0.88 in 2025.
Overall, the current ratio demonstrates a long-term trend of decline, particularly pronounced after 2017. While the ratio generally remained above 0.70 throughout the period, the recent values suggest a reduced margin of safety in meeting short-term obligations compared to the earlier years.
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Comparison to Competitors
Linde plc, current ratio, long-term trends, comparison to competitors
| Linde plc | Sherwin-Williams Co. | |
|---|---|---|
| Dec 31, 2025 | 0.88 | 0.87 |
| Dec 31, 2024 | 0.89 | 0.79 |
| Dec 31, 2023 | 0.80 | 0.83 |
| Dec 31, 2022 | 0.79 | 0.99 |
| Dec 31, 2021 | 0.74 | 0.88 |
| Dec 31, 2020 | 0.80 | 1.00 |
| Dec 31, 2019 | 0.85 | 1.02 |
| Dec 31, 2018 | 1.33 | 1.01 |
| Dec 31, 2017 | 0.99 | 1.12 |
| Dec 31, 2016 | 1.16 | 1.28 |
| Dec 31, 2015 | 1.39 | 1.24 |
| Dec 31, 2014 | 1.14 | 0.96 |
| Dec 31, 2013 | 1.09 | 1.25 |
| Dec 31, 2012 | 1.13 | 1.68 |
| Dec 31, 2011 | 1.03 | 1.05 |
| Dec 31, 2010 | 1.13 | 1.07 |
| Dec 31, 2009 | 1.23 | 1.27 |
| Dec 31, 2008 | 0.77 | 0.99 |
| Dec 31, 2007 | 0.91 | 0.97 |
| Dec 31, 2006 | 1.17 | 1.18 |
| Dec 31, 2005 | 1.07 | 1.22 |
Based on: 10-K (reporting date: 2025-12-31), 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, current ratio, long-term trends, comparison to sector (chemicals)
| Linde plc | Chemicals | |
|---|---|---|
| Dec 31, 2025 | 0.88 | 0.87 |
| Dec 31, 2024 | 0.89 | 0.86 |
| Dec 31, 2023 | 0.80 | 0.81 |
| Dec 31, 2022 | 0.79 | 0.84 |
| Dec 31, 2021 | 0.74 | 0.79 |
| Dec 31, 2020 | 0.80 | 0.85 |
| Dec 31, 2019 | 0.85 | 0.90 |
| Dec 31, 2018 | 1.33 | 1.25 |
| Dec 31, 2017 | 0.99 | 1.06 |
| Dec 31, 2016 | 1.16 | 1.23 |
| Dec 31, 2015 | 1.39 | 1.31 |
| Dec 31, 2014 | 1.14 | 1.05 |
| Dec 31, 2013 | 1.09 | 1.17 |
| Dec 31, 2012 | 1.13 | 1.36 |
| Dec 31, 2011 | 1.03 | 1.04 |
| Dec 31, 2010 | 1.13 | 1.10 |
| Dec 31, 2009 | 1.23 | 1.25 |
| Dec 31, 2008 | 0.77 | 0.86 |
| Dec 31, 2007 | 0.91 | 0.93 |
| Dec 31, 2006 | 1.17 | 1.18 |
| Dec 31, 2005 | 1.07 | 1.13 |
Based on: 10-K (reporting date: 2025-12-31), 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, current ratio, long-term trends, comparison to industry (materials)
| Linde plc | Materials | |
|---|---|---|
| Dec 31, 2025 | 0.88 | 1.18 |
| Dec 31, 2024 | 0.89 | 1.18 |
| Dec 31, 2023 | 0.80 | 1.14 |
| Dec 31, 2022 | 0.79 | 1.20 |
| Dec 31, 2021 | 0.74 | 1.19 |
| Dec 31, 2020 | 0.80 | 1.14 |
| Dec 31, 2019 | 0.85 | 1.15 |
| Dec 31, 2018 | 1.33 | 1.57 |
| Dec 31, 2017 | 0.99 | 1.50 |
| Dec 31, 2016 | 1.16 | 1.77 |
| Dec 31, 2015 | 1.39 | 1.53 |
| Dec 31, 2014 | 1.14 | 1.40 |
| Dec 31, 2013 | 1.09 | 1.61 |
| Dec 31, 2012 | 1.13 | 2.11 |
| Dec 31, 2011 | 1.03 | 1.95 |
| Dec 31, 2010 | 1.13 | 1.82 |
| Dec 31, 2009 | 1.23 | 1.84 |
| Dec 31, 2008 | 0.77 | 1.17 |
| Dec 31, 2007 | 0.91 | 1.20 |
| Dec 31, 2006 | 1.17 | 1.39 |
| Dec 31, 2005 | 1.07 | 1.23 |
Based on: 10-K (reporting date: 2025-12-31), 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).