Stock Analysis on Net
Stock Analysis on Net

Linde plc (NASDAQ:LIN)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability ratios measure the company ability to generate profitable sales from its resources (assets).

Profitability Ratios (Summary)

Linde plc, profitability 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
Return on Sales
Gross profit margin 46.76% 46.11% 44.22% 42.77% 41.70% 40.91% 41.68% 42.42% 43.03% 43.89% 44.16% 43.80% 43.53% 42.76% 42.23% 41.58% 41.04% — — —
Operating profit margin 24.42% 23.68% 21.89% 17.46% 16.09% 14.87% 14.40% 16.53% 16.19% 15.71% 15.03% 13.70% 12.19% 10.90% 10.95% 10.91% 10.39% — — —
Net profit margin 18.87% 18.44% 17.20% 13.46% 12.43% 11.39% 10.88% 12.66% 12.42% 11.99% 11.37% 10.48% 9.18% 8.29% 8.37% 8.35% 8.09% — — —
Return on Investment
Return on equity (ROE) 15.61% 15.38% 14.26% 11.23% 10.36% 10.22% 8.95% 9.36% 8.69% 8.05% 7.19% 6.29% 5.29% 4.86% 5.00% 5.23% 4.66% — — —
Return on assets (ROA) 7.67% 7.69% 7.23% 5.59% 5.21% 5.17% 4.56% 4.86% 4.69% 4.24% 3.90% 3.42% 2.83% 2.57% 2.65% 2.77% 2.64% — — —

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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Linde plc gross profit margin ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Linde plc operating profit margin ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Linde plc net profit margin ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Linde plc ROE improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
ROA A profitability ratio calculated as net income divided by total assets. Linde plc ROA improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023.

Gross Profit Margin

Linde plc, gross profit margin 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)
Gross margin 3,871 3,841 3,888 3,762 3,472 3,512 3,517 3,413 3,371 3,300 3,390 3,189 3,186 3,020 2,758 2,896 2,893 2,939 2,924 2,828
Sales 8,302 8,155 8,204 8,193 7,899 8,797 8,457 8,211 8,298 7,668 7,584 7,243 7,272 6,855 6,377 6,739 7,080 7,000 7,204 6,944
Profitability Ratio
Gross profit margin1 46.76% 46.11% 44.22% 42.77% 41.70% 40.91% 41.68% 42.42% 43.03% 43.89% 44.16% 43.80% 43.53% 42.76% 42.23% 41.58% 41.04% — — —

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
Gross profit margin = 100 × (Gross marginQ4 2023 + Gross marginQ3 2023 + Gross marginQ2 2023 + Gross marginQ1 2023) ÷ (SalesQ4 2023 + SalesQ3 2023 + SalesQ2 2023 + SalesQ1 2023)
= 100 × (3,871 + 3,841 + 3,888 + 3,762) ÷ (8,302 + 8,155 + 8,204 + 8,193) = 46.76%

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Linde plc gross profit margin ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Operating Profit Margin

Linde plc, operating profit margin 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)
Operating profit 2,028 2,052 2,011 1,933 1,687 1,613 589 1,480 1,337 1,292 1,142 1,213 1,029 969 591 733 655 1,000 669 609
Sales 8,302 8,155 8,204 8,193 7,899 8,797 8,457 8,211 8,298 7,668 7,584 7,243 7,272 6,855 6,377 6,739 7,080 7,000 7,204 6,944
Profitability Ratio
Operating profit margin1 24.42% 23.68% 21.89% 17.46% 16.09% 14.87% 14.40% 16.53% 16.19% 15.71% 15.03% 13.70% 12.19% 10.90% 10.95% 10.91% 10.39% — — —

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
Operating profit margin = 100 × (Operating profitQ4 2023 + Operating profitQ3 2023 + Operating profitQ2 2023 + Operating profitQ1 2023) ÷ (SalesQ4 2023 + SalesQ3 2023 + SalesQ2 2023 + SalesQ1 2023)
= 100 × (2,028 + 2,052 + 2,011 + 1,933) ÷ (8,302 + 8,155 + 8,204 + 8,193) = 24.42%

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Linde plc operating profit margin ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Net Profit Margin

Linde plc, net profit margin 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)
Net income, Linde plc 1,543 1,565 1,575 1,516 1,328 1,273 372 1,174 1,026 979 841 980 770 700 458 573 511 735 522 517
Sales 8,302 8,155 8,204 8,193 7,899 8,797 8,457 8,211 8,298 7,668 7,584 7,243 7,272 6,855 6,377 6,739 7,080 7,000 7,204 6,944
Profitability Ratio
Net profit margin1 18.87% 18.44% 17.20% 13.46% 12.43% 11.39% 10.88% 12.66% 12.42% 11.99% 11.37% 10.48% 9.18% 8.29% 8.37% 8.35% 8.09% — — —

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
Net profit margin = 100 × (Net income, Linde plcQ4 2023 + Net income, Linde plcQ3 2023 + Net income, Linde plcQ2 2023 + Net income, Linde plcQ1 2023) ÷ (SalesQ4 2023 + SalesQ3 2023 + SalesQ2 2023 + SalesQ1 2023)
= 100 × (1,543 + 1,565 + 1,575 + 1,516) ÷ (8,302 + 8,155 + 8,204 + 8,193) = 18.87%

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Linde plc net profit margin ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Return on Equity (ROE)

Linde plc, ROE 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)
Net income, Linde plc 1,543 1,565 1,575 1,516 1,328 1,273 372 1,174 1,026 979 841 980 770 700 458 573 511 735 522 517
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
Profitability Ratio
ROE1 15.61% 15.38% 14.26% 11.23% 10.36% 10.22% 8.95% 9.36% 8.69% 8.05% 7.19% 6.29% 5.29% 4.86% 5.00% 5.23% 4.66% — — —

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
ROE = 100 × (Net income, Linde plcQ4 2023 + Net income, Linde plcQ3 2023 + Net income, Linde plcQ2 2023 + Net income, Linde plcQ1 2023) ÷ Total Linde plc shareholders’ equity
= 100 × (1,543 + 1,565 + 1,575 + 1,516) ÷ 39,720 = 15.61%

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Linde plc ROE improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.

Return on Assets (ROA)

Linde plc, ROA 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)
Net income, Linde plc 1,543 1,565 1,575 1,516 1,328 1,273 372 1,174 1,026 979 841 980 770 700 458 573 511 735 522 517
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
Profitability Ratio
ROA1 7.67% 7.69% 7.23% 5.59% 5.21% 5.17% 4.56% 4.86% 4.69% 4.24% 3.90% 3.42% 2.83% 2.57% 2.65% 2.77% 2.64% — — —

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
ROA = 100 × (Net income, Linde plcQ4 2023 + Net income, Linde plcQ3 2023 + Net income, Linde plcQ2 2023 + Net income, Linde plcQ1 2023) ÷ Total assets
= 100 × (1,543 + 1,565 + 1,575 + 1,516) ÷ 80,811 = 7.67%

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Linde plc ROA improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023.