Stock Analysis on Net

Linde plc (NASDAQ:LIN)

Analysis of Geographic Areas

Microsoft Excel

Linde plc operates in 6 regions: United States; Germany; China; United Kingdom; Australia; and Brazil.


Area Asset Turnover

Linde plc, asset turnover by geographic area

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
United States 1.24 1.38 1.19 1.09 1.15
Germany 1.78 2.18 1.80 1.56 1.49
China 1.25 1.21 1.07 0.85 0.89
United Kingdom 2.20 2.78 1.91 1.21 1.12
Australia 1.99 1.99 1.50 0.97 0.93
Brazil 1.56 1.61 1.51 1.12 1.04

Based on: 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).

Area activity ratio Geographic area The company
Area asset turnover United States United States area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Germany Germany area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
China China area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
United Kingdom United Kingdom area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Australia Australia area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Brazil Brazil area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Area Asset Turnover: United States

Linde plc; United States; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales 10,566 10,553 9,123 8,475 8,604
Long-lived assets 8,490 7,663 7,659 7,777 7,498
Area Activity Ratio
Area asset turnover1 1.24 1.38 1.19 1.09 1.15

Based on: 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).

1 2023 Calculation
Area asset turnover = Sales ÷ Long-lived assets
= 10,566 ÷ 8,490 = 1.24

Area activity ratio Geographic area The company
Area asset turnover United States United States area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Area Asset Turnover: Germany

Linde plc; Germany; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales 2,827 3,662 3,601 3,740 3,630
Long-lived assets 1,584 1,678 2,003 2,394 2,429
Area Activity Ratio
Area asset turnover1 1.78 2.18 1.80 1.56 1.49

Based on: 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).

1 2023 Calculation
Area asset turnover = Sales ÷ Long-lived assets
= 2,827 ÷ 1,584 = 1.78

Area activity ratio Geographic area The company
Area asset turnover Germany Germany area asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Area Asset Turnover: China

Linde plc; China; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales 2,585 2,643 2,562 2,061 2,005
Long-lived assets 2,063 2,176 2,385 2,413 2,254
Area Activity Ratio
Area asset turnover1 1.25 1.21 1.07 0.85 0.89

Based on: 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).

1 2023 Calculation
Area asset turnover = Sales ÷ Long-lived assets
= 2,585 ÷ 2,063 = 1.25

Area activity ratio Geographic area The company
Area asset turnover China China area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Area Asset Turnover: United Kingdom

Linde plc; United Kingdom; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales 1,507 1,954 2,060 1,595 1,653
Long-lived assets 684 704 1,078 1,313 1,479
Area Activity Ratio
Area asset turnover1 2.20 2.78 1.91 1.21 1.12

Based on: 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).

1 2023 Calculation
Area asset turnover = Sales ÷ Long-lived assets
= 1,507 ÷ 684 = 2.20

Area activity ratio Geographic area The company
Area asset turnover United Kingdom United Kingdom area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Area Asset Turnover: Australia

Linde plc; Australia; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales 1,303 1,372 1,307 1,071 1,127
Long-lived assets 654 688 872 1,105 1,214
Area Activity Ratio
Area asset turnover1 1.99 1.99 1.50 0.97 0.93

Based on: 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).

1 2023 Calculation
Area asset turnover = Sales ÷ Long-lived assets
= 1,303 ÷ 654 = 1.99

Area activity ratio Geographic area The company
Area asset turnover Australia Australia area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Area Asset Turnover: Brazil

Linde plc; Brazil; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Sales 1,302 1,158 1,065 822 994
Long-lived assets 836 720 705 734 956
Area Activity Ratio
Area asset turnover1 1.56 1.61 1.51 1.12 1.04

Based on: 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).

1 2023 Calculation
Area asset turnover = Sales ÷ Long-lived assets
= 1,302 ÷ 836 = 1.56

Area activity ratio Geographic area The company
Area asset turnover Brazil Brazil area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Sales

Linde plc, sales by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
United States 10,566 10,553 9,123 8,475 8,604
Germany 2,827 3,662 3,601 3,740 3,630
China 2,585 2,643 2,562 2,061 2,005
United Kingdom 1,507 1,954 2,060 1,595 1,653
Australia 1,303 1,372 1,307 1,071 1,127
Brazil 1,302 1,158 1,065 822 994
Other, non-U.S. 12,764 12,022 11,075 9,479 10,215
Total 32,854 33,364 30,793 27,243 28,228

Based on: 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).


Long-lived assets

Linde plc, long-lived assets by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
United States 8,490 7,663 7,659 7,777 7,498
Germany 1,584 1,678 2,003 2,394 2,429
China 2,063 2,176 2,385 2,413 2,254
United Kingdom 684 704 1,078 1,313 1,479
Australia 654 688 872 1,105 1,214
Brazil 836 720 705 734 956
Other, non-U.S. 10,241 9,919 11,301 12,975 13,234
Total 24,552 23,548 26,003 28,711 29,064

Based on: 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).