Stock Analysis on Net
Stock Analysis on Net

Linde plc (NASDAQ:LIN)

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.

Solvency Ratios (Summary)

Linde plc, solvency ratios (quarterly data)

Microsoft Excel
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
Debt Ratios
Debt to equity 0.49 0.46 0.44 0.47 0.45 0.41 0.40 0.38 0.32 0.38 0.34 0.34 0.34 0.39 0.38 0.38 0.28 0.27 0.28 0.28
Debt to capital 0.33 0.32 0.30 0.32 0.31 0.29 0.29 0.28 0.24 0.27 0.25 0.25 0.25 0.28 0.28 0.27 0.22 0.21 0.22 0.22
Debt to assets 0.24 0.23 0.22 0.23 0.22 0.21 0.21 0.20 0.17 0.20 0.18 0.19 0.18 0.20 0.20 0.20 0.16 0.16 0.16 0.15
Financial leverage 2.03 2.00 1.97 2.01 1.99 1.98 1.96 1.93 1.85 1.90 1.84 1.84 1.86 1.89 1.89 1.88 1.76 1.72 1.72 1.79

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Linde plc debt to equity ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Linde plc debt to capital ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Linde plc debt to assets ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Linde plc financial leverage ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Debt to Equity

Linde plc, debt to equity calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term debt 4,713 3,849 3,018 5,337 4,117 3,179 3,215 2,549 1,163 2,895 3,681 3,276 3,251 4,024 3,679 4,848 1,732 1,209 1,475 939
Current portion of long-term debt 1,263 922 944 1,696 1,599 1,551 1,651 1,074 1,709 2,293 1,827 2,524 751 1,820 2,723 2,006 1,531 1,425 227 1,017
Long-term debt, excluding current portion 13,397 13,232 13,528 11,744 12,198 10,608 11,177 12,833 11,335 11,539 9,984 9,950 12,152 11,959 11,078 10,021 10,693 10,567 12,255 12,190
Total debt 19,373 18,003 17,490 18,777 17,914 15,338 16,043 16,456 14,207 16,727 15,492 15,750 16,154 17,803 17,480 16,875 13,956 13,201 13,957 14,146
 
Total Linde plc shareholders’ equity 39,720 38,898 39,911 39,970 40,028 37,628 39,674 42,963 44,035 44,323 45,777 46,210 47,317 46,175 45,537 44,776 49,074 48,953 50,564 51,175
Solvency Ratio
Debt to equity1 0.49 0.46 0.44 0.47 0.45 0.41 0.40 0.38 0.32 0.38 0.34 0.34 0.34 0.39 0.38 0.38 0.28 0.27 0.28 0.28

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).

1 Q4 2023 Calculation
Debt to equity = Total debt ÷ Total Linde plc shareholders’ equity
= 19,373 ÷ 39,720 = 0.49

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Linde plc debt to equity ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Debt to Capital

Linde plc, debt to capital calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term debt 4,713 3,849 3,018 5,337 4,117 3,179 3,215 2,549 1,163 2,895 3,681 3,276 3,251 4,024 3,679 4,848 1,732 1,209 1,475 939
Current portion of long-term debt 1,263 922 944 1,696 1,599 1,551 1,651 1,074 1,709 2,293 1,827 2,524 751 1,820 2,723 2,006 1,531 1,425 227 1,017
Long-term debt, excluding current portion 13,397 13,232 13,528 11,744 12,198 10,608 11,177 12,833 11,335 11,539 9,984 9,950 12,152 11,959 11,078 10,021 10,693 10,567 12,255 12,190
Total debt 19,373 18,003 17,490 18,777 17,914 15,338 16,043 16,456 14,207 16,727 15,492 15,750 16,154 17,803 17,480 16,875 13,956 13,201 13,957 14,146
Total Linde plc shareholders’ equity 39,720 38,898 39,911 39,970 40,028 37,628 39,674 42,963 44,035 44,323 45,777 46,210 47,317 46,175 45,537 44,776 49,074 48,953 50,564 51,175
Total capital 59,093 56,901 57,401 58,747 57,942 52,966 55,717 59,419 58,242 61,050 61,269 61,960 63,471 63,978 63,017 61,651 63,030 62,154 64,521 65,321
Solvency Ratio
Debt to capital1 0.33 0.32 0.30 0.32 0.31 0.29 0.29 0.28 0.24 0.27 0.25 0.25 0.25 0.28 0.28 0.27 0.22 0.21 0.22 0.22

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).

1 Q4 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 19,373 ÷ 59,093 = 0.33

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Linde plc debt to capital ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Debt to Assets

Linde plc, debt to assets calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Short-term debt 4,713 3,849 3,018 5,337 4,117 3,179 3,215 2,549 1,163 2,895 3,681 3,276 3,251 4,024 3,679 4,848 1,732 1,209 1,475 939
Current portion of long-term debt 1,263 922 944 1,696 1,599 1,551 1,651 1,074 1,709 2,293 1,827 2,524 751 1,820 2,723 2,006 1,531 1,425 227 1,017
Long-term debt, excluding current portion 13,397 13,232 13,528 11,744 12,198 10,608 11,177 12,833 11,335 11,539 9,984 9,950 12,152 11,959 11,078 10,021 10,693 10,567 12,255 12,190
Total debt 19,373 18,003 17,490 18,777 17,914 15,338 16,043 16,456 14,207 16,727 15,492 15,750 16,154 17,803 17,480 16,875 13,956 13,201 13,957 14,146
 
Total assets 80,811 77,827 78,718 80,308 79,658 74,323 77,885 82,767 81,605 84,191 84,345 84,993 88,229 87,209 85,856 84,369 86,612 84,394 87,189 91,641
Solvency Ratio
Debt to assets1 0.24 0.23 0.22 0.23 0.22 0.21 0.21 0.20 0.17 0.20 0.18 0.19 0.18 0.20 0.20 0.20 0.16 0.16 0.16 0.15

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).

1 Q4 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 19,373 ÷ 80,811 = 0.24

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Linde plc debt to assets ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Financial Leverage

Linde plc, financial leverage calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Total assets 80,811 77,827 78,718 80,308 79,658 74,323 77,885 82,767 81,605 84,191 84,345 84,993 88,229 87,209 85,856 84,369 86,612 84,394 87,189 91,641
Total Linde plc shareholders’ equity 39,720 38,898 39,911 39,970 40,028 37,628 39,674 42,963 44,035 44,323 45,777 46,210 47,317 46,175 45,537 44,776 49,074 48,953 50,564 51,175
Solvency Ratio
Financial leverage1 2.03 2.00 1.97 2.01 1.99 1.98 1.96 1.93 1.85 1.90 1.84 1.84 1.86 1.89 1.89 1.88 1.76 1.72 1.72 1.79

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).

1 Q4 2023 Calculation
Financial leverage = Total assets ÷ Total Linde plc shareholders’ equity
= 80,811 ÷ 39,720 = 2.03

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Linde plc financial leverage ratio increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.