Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
Profitability Ratios (Summary)
Linde plc, profitability ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 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).
- Gross Profit Margin
- The gross profit margin demonstrated a downward trend from early 2021, declining from 43.8% in the first quarter to a low point near 40.91% in the third quarter of 2022. From that trough, a consistent recovery is evident, reaching 48.78% in the third quarter of 2025. This indicates an overall improvement in cost management or pricing power in recent periods.
- Operating Profit Margin
- The operating profit margin showed volatility initially, with fluctuations between 13.7% and 16.53% through mid-2022. From late 2022 onwards, a notable upward trajectory occurred, with margins rising sharply to nearly 27.38% by Q3 2025. This suggests enhanced operational efficiency or a shift to higher-margin activities over time.
- Net Profit Margin
- Net profit margin trends largely mirrored those of operating margin, starting at 10.48% in early 2021 and displaying modest declines and recoveries until mid-2022. After this, a strong increase is seen, climbing steadily to 21.17% in Q3 2025. This reflects improved bottom-line profitability, possibly driven by both operating gains and favorable non-operating factors such as tax or financing.
- Return on Equity (ROE)
- The ROE improved progressively throughout the period, rising from 6.29% at the start of 2021 to over 18% by late 2025. This denotes a substantially enhanced capacity to generate shareholder returns, indicating effective use of equity capital alongside growing profitability.
- Return on Assets (ROA)
- The return on assets showed steady growth with some minor fluctuations, increasing from 3.42% in early 2021 to peaks just above 8% in the latter part of 2025. This suggests more efficient utilization of assets to generate earnings over time, although the rate of improvement is less pronounced compared to equity returns.
Return on Sales
Return on Investment
Gross Profit Margin
Linde plc, gross profit margin calculation (quarterly data)
| Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Gross margin | 4,236) | 4,189) | 3,955) | 3,962) | 4,000) | 4,016) | 3,884) | 3,871) | 3,841) | 3,888) | 3,762) | 3,472) | 3,512) | 3,517) | 3,413) | 3,371) | 3,300) | 3,390) | 3,189) | ||||||
| Sales | 8,615) | 8,495) | 8,112) | 8,282) | 8,356) | 8,267) | 8,100) | 8,302) | 8,155) | 8,204) | 8,193) | 7,899) | 8,797) | 8,457) | 8,211) | 8,298) | 7,668) | 7,584) | 7,243) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Gross profit margin1 | 48.78% | 48.45% | 48.26% | 48.06% | 47.75% | 47.56% | 47.26% | 46.76% | 46.11% | 44.22% | 42.77% | 41.70% | 40.91% | 41.68% | 42.42% | 43.03% | 43.89% | 44.16% | 43.80% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Gross Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Sherwin-Williams Co. | 48.88% | 48.87% | 48.72% | 48.47% | 48.46% | 48.07% | 47.30% | 46.67% | 45.35% | 44.06% | 42.90% | 42.10% | 41.38% | 41.01% | 41.82% | 42.83% | 44.69% | 46.36% | 47.19% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 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).
1 Q3 2025 Calculation
Gross profit margin = 100
× (Gross marginQ3 2025
+ Gross marginQ2 2025
+ Gross marginQ1 2025
+ Gross marginQ4 2024)
÷ (SalesQ3 2025
+ SalesQ2 2025
+ SalesQ1 2025
+ SalesQ4 2024)
= 100 × (4,236 + 4,189 + 3,955 + 3,962)
÷ (8,615 + 8,495 + 8,112 + 8,282)
= 48.78%
2 Click competitor name to see calculations.
- Sales Trends
- Sales figures show a general upward trajectory over the entire period analyzed. Beginning at $7,243 million, sales experienced fluctuations but maintained growth, reaching $8,615 million by the last recorded quarter. Notably, there are periodic dips, such as in December 2022 and March 2024, but overall sales have increased, reflecting expanding business activity or market demand.
- Gross Margin Trends
- Gross margin in dollar terms trends upward consistently from $3,189 million to $4,236 million across the observed quarters. While there are slight quarter-to-quarter variations, the gross margin growth aligns positively with sales increases, indicating improved gross profitability over time.
- Gross Profit Margin Ratio
- The gross profit margin percentage exhibits a meaningful enhancing trend from 43.8% initially to 48.78% in the most recent quarter. This increase indicates an improved efficiency in managing cost of goods sold relative to sales, or possibly a favorable shift in product mix or pricing power.
- Insight Summary
- The data suggest that the company has managed to grow sales while simultaneously improving profitability margins, which is indicative of strong operational management. The upward progression in gross profit margin percentage reveals better cost control or enhanced revenue quality over the timeline. The alignment between increasing gross margin dollars and rising sales figures supports the interpretation of sustained business growth with profitability improvements.
Operating Profit Margin
Linde plc, operating profit margin calculation (quarterly data)
| Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Operating profit | 2,367) | 2,354) | 2,184) | 2,270) | 2,086) | 2,184) | 2,095) | 2,028) | 2,052) | 2,011) | 1,933) | 1,687) | 1,613) | 589) | 1,480) | 1,337) | 1,292) | 1,142) | 1,213) | ||||||
| Sales | 8,615) | 8,495) | 8,112) | 8,282) | 8,356) | 8,267) | 8,100) | 8,302) | 8,155) | 8,204) | 8,193) | 7,899) | 8,797) | 8,457) | 8,211) | 8,298) | 7,668) | 7,584) | 7,243) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Operating profit margin1 | 27.38% | 26.75% | 26.42% | 26.16% | 25.41% | 25.47% | 24.99% | 24.42% | 23.68% | 21.89% | 17.46% | 16.09% | 14.87% | 14.40% | 16.53% | 16.19% | 15.71% | 15.03% | 13.70% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Operating Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Sherwin-Williams Co. | 16.04% | 15.98% | 16.66% | 16.50% | 16.29% | 16.17% | 15.58% | 15.48% | 15.30% | 14.89% | 13.97% | 13.56% | 12.82% | 11.94% | 12.49% | 12.83% | 13.96% | 15.32% | 15.63% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 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).
1 Q3 2025 Calculation
Operating profit margin = 100
× (Operating profitQ3 2025
+ Operating profitQ2 2025
+ Operating profitQ1 2025
+ Operating profitQ4 2024)
÷ (SalesQ3 2025
+ SalesQ2 2025
+ SalesQ1 2025
+ SalesQ4 2024)
= 100 × (2,367 + 2,354 + 2,184 + 2,270)
÷ (8,615 + 8,495 + 8,112 + 8,282)
= 27.38%
2 Click competitor name to see calculations.
- Operating Profit Trend
- The operating profit exhibits fluctuations across the quarters with a notable dip in June 30, 2022, where it dropped to 589 million US dollars. Following this, there is a strong recovery with consistent growth, reaching a peak of 2,367 million US dollars by September 30, 2025. The general trend after the dip is upward, indicating improved profitability and operational efficiency over time.
- Sales Trend
- Sales figures show moderate variability over the observed periods. After a gradual increase from March 2021 through September 2021, sales peak at 8,797 million US dollars in September 2022 before experiencing a decline in December 2022 and March 2023. Subsequently, sales stabilize and fluctuate slightly but remain within a range of approximately 8,100 to 8,600 million US dollars through September 2025, suggesting steady revenue generation with minor short-term fluctuations.
- Operating Profit Margin Analysis
- The operating profit margin follows an overall upward trajectory, starting from 13.7% in March 2021 and progressively improving to 27.38% by September 2025. Notably, despite the temporary decline in absolute operating profit around mid-2022, margins remain relatively resilient and increase substantially post-dip. This indicates enhanced margin management or cost control relative to sales.
- Relationship Between Sales, Operating Profit, and Margin
- Although sales show moderate variability and some decline in late 2022 and early 2023, operating profit and margin demonstrate a marked improvement over time. This suggests that the company may have implemented cost optimization strategies or shifted to higher-margin activities, resulting in improved profitability even when sales growth is not robust. The sharp margin expansion alongside stable sales highlights operational efficiency gains.
- Summary Insights
- The financial data indicate cyclical fluctuations but an overall strengthening in profitability and margin performance. The sharp rebound in operating profit following a mid-2022 trough and sustained margin improvements portray a positive trend in operational effectiveness. While sales growth remains moderate and somewhat volatile, profit margins more than double over the analyzed period, pointing to effective management practices driving profitability beyond mere revenue growth.
Net Profit Margin
Linde plc, net profit margin calculation (quarterly data)
| Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income, Linde plc | 1,929) | 1,766) | 1,673) | 1,725) | 1,550) | 1,663) | 1,627) | 1,543) | 1,565) | 1,575) | 1,516) | 1,328) | 1,273) | 372) | 1,174) | 1,026) | 979) | 841) | 980) | ||||||
| Sales | 8,615) | 8,495) | 8,112) | 8,282) | 8,356) | 8,267) | 8,100) | 8,302) | 8,155) | 8,204) | 8,193) | 7,899) | 8,797) | 8,457) | 8,211) | 8,298) | 7,668) | 7,584) | 7,243) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| Net profit margin1 | 21.17% | 20.20% | 20.02% | 19.89% | 19.33% | 19.49% | 19.26% | 18.87% | 18.44% | 17.20% | 13.46% | 12.43% | 11.39% | 10.88% | 12.66% | 12.42% | 11.99% | 11.37% | 10.48% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| Net Profit Margin, Competitors2 | |||||||||||||||||||||||||
| Sherwin-Williams Co. | 11.05% | 11.03% | 11.63% | 11.61% | 11.09% | 10.92% | 10.52% | 10.36% | 10.50% | 10.20% | 9.41% | 9.12% | 8.94% | 8.45% | 9.00% | 9.35% | 10.00% | 11.05% | 11.23% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 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).
1 Q3 2025 Calculation
Net profit margin = 100
× (Net income, Linde plcQ3 2025
+ Net income, Linde plcQ2 2025
+ Net income, Linde plcQ1 2025
+ Net income, Linde plcQ4 2024)
÷ (SalesQ3 2025
+ SalesQ2 2025
+ SalesQ1 2025
+ SalesQ4 2024)
= 100 × (1,929 + 1,766 + 1,673 + 1,725)
÷ (8,615 + 8,495 + 8,112 + 8,282)
= 21.17%
2 Click competitor name to see calculations.
- Net Income Trend
- The net income demonstrates a general upward trend over the observed periods. Starting from 980 million USD in the first quarter of 2021, the figure shows fluctuations but maintains a steady increase overall, reaching 1929 million USD by the third quarter of 2025. Notably, there is a dip in the second quarter of 2022 to 372 million USD, which appears to be an outlier followed by a robust recovery and sustained growth through subsequent quarters. This pattern suggests strong earnings growth momentum despite some irregular short-term volatility.
- Sales Trend
- Sales figures display modest growth with minor fluctuations across the timeline. Initial sales start at 7243 million USD in the first quarter of 2021, rising gradually to 8615 million USD by the third quarter of 2025. The data shows periods of minor decline or stagnation, particularly in the final quarters of 2022 and early 2023, but these are followed by a rebound, indicating resilience in revenue generation capability.
- Net Profit Margin Trend
- The net profit margin reveals a significant upward trajectory. Beginning at 10.48% in the first quarter of 2021, the margin consistently improves with some volatility, reaching a high of 21.17% by the third quarter of 2025. Notable acceleration occurs after mid-2022, with margins exceeding 18% and continuing to increase steadily. This rising margin highlights improved profitability and possibly enhanced operational efficiency or cost management.
- Overall Insights
- The combination of increasing net income and expanding net profit margins suggests that the company is improving its profitability at a rate exceeding revenue growth. While sales growth is positive but moderate, the sharper rise in net income and profit margins may indicate effective cost control, pricing strategies, or product mix enhancements. The temporary dip observed in net income during the second quarter of 2022 suggests an isolated event or one-time issue, as subsequent recovery was prompt and strong. The data points to a financially strengthening organization with growing earnings power and solid revenue base.
Return on Equity (ROE)
Linde plc, ROE calculation (quarterly data)
| Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income, Linde plc | 1,929) | 1,766) | 1,673) | 1,725) | 1,550) | 1,663) | 1,627) | 1,543) | 1,565) | 1,575) | 1,516) | 1,328) | 1,273) | 372) | 1,174) | 1,026) | 979) | 841) | 980) | ||||||
| Total Linde plc shareholders’ equity | 38,616) | 38,515) | 38,032) | 38,092) | 39,173) | 38,179) | 38,829) | 39,720) | 38,898) | 39,911) | 39,970) | 40,028) | 37,628) | 39,674) | 42,963) | 44,035) | 44,323) | 45,777) | 46,210) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROE1 | 18.37% | 17.43% | 17.38% | 17.23% | 16.29% | 16.76% | 16.25% | 15.61% | 15.38% | 14.26% | 11.23% | 10.36% | 10.22% | 8.95% | 9.36% | 8.69% | 8.05% | 7.19% | 6.29% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROE, Competitors2 | |||||||||||||||||||||||||
| Sherwin-Williams Co. | 58.12% | 57.83% | 64.89% | 66.19% | 61.54% | 66.98% | 68.97% | 64.29% | 63.99% | 64.51% | 67.16% | 65.12% | 74.59% | 78.89% | 81.71% | 76.50% | 73.13% | 76.43% | 68.81% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 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).
1 Q3 2025 Calculation
ROE = 100
× (Net income, Linde plcQ3 2025
+ Net income, Linde plcQ2 2025
+ Net income, Linde plcQ1 2025
+ Net income, Linde plcQ4 2024)
÷ Total Linde plc shareholders’ equity
= 100 × (1,929 + 1,766 + 1,673 + 1,725)
÷ 38,616 = 18.37%
2 Click competitor name to see calculations.
- Net Income Trend
- The net income demonstrates a generally increasing trend over the observed periods. Starting at 980 million USD, it shows moderate fluctuations initially but advances significantly after March 2022, with a notable dip at June 2022. From that point, net income consistently grows, reaching its peak at 1,929 million USD by September 2025. This upward trajectory indicates strengthening profitability over time, despite some short-term volatility.
- Total Shareholders’ Equity Trend
- Shareholders’ equity initially declines from 46,210 million USD to 37,628 million USD by September 2022, reflecting possible equity reductions or asset contractions during this timeframe. Subsequently, a slight recovery phase is noted, with equity values oscillating around the 38,000 to 40,000 million USD range through March 2025. The overall picture shows a downward adjustment in equity followed by stabilization without a strong recovery to initial levels.
- Return on Equity (ROE) Analysis
- Return on equity presents a clear improvement trend throughout the period. Beginning near 6.29%, it experiences steady growth with minor fluctuations, crossing the 10% mark by December 2021. Post-March 2023, a more pronounced increase is observed, culminating in an ROE of 18.37% by September 2025. This upward movement suggests more effective utilization of equity capital generating higher earnings relative to shareholders’ equity.
- Overall Insights
- The financial data reveals a consistent enhancement in profitability as evidenced by rising net income and significantly improving ROE. Despite a reduction in shareholders’ equity from early levels, profitability metrics suggest enhanced operational or financial efficiency. The contrasting movements between equity and net income may imply strategic capital management, improved margins, or leverage effects. The data reflects a company moving towards stronger earnings performance and optimized equity use over the observed quarters.
Return on Assets (ROA)
Linde plc, ROA calculation (quarterly data)
| Sep 30, 2025 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||||||||||||||||||||||
| Net income, Linde plc | 1,929) | 1,766) | 1,673) | 1,725) | 1,550) | 1,663) | 1,627) | 1,543) | 1,565) | 1,575) | 1,516) | 1,328) | 1,273) | 372) | 1,174) | 1,026) | 979) | 841) | 980) | ||||||
| Total assets | 85,993) | 86,078) | 82,704) | 80,147) | 82,546) | 80,215) | 80,347) | 80,811) | 77,827) | 78,718) | 80,308) | 79,658) | 74,323) | 77,885) | 82,767) | 81,605) | 84,191) | 84,345) | 84,993) | ||||||
| Profitability Ratio | |||||||||||||||||||||||||
| ROA1 | 8.25% | 7.80% | 7.99% | 8.19% | 7.73% | 7.98% | 7.85% | 7.67% | 7.69% | 7.23% | 5.59% | 5.21% | 5.17% | 4.56% | 4.86% | 4.69% | 4.24% | 3.90% | 3.42% | ||||||
| Benchmarks | |||||||||||||||||||||||||
| ROA, Competitors2 | |||||||||||||||||||||||||
| Sherwin-Williams Co. | 9.81% | 10.03% | 10.88% | 11.35% | 10.67% | 10.59% | 10.31% | 10.41% | 10.51% | 10.11% | 9.19% | 8.94% | 8.71% | 7.96% | 8.40% | 9.02% | 9.49% | 10.58% | 10.37% | ||||||
Based on: 10-Q (reporting date: 2025-09-30), 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).
1 Q3 2025 Calculation
ROA = 100
× (Net income, Linde plcQ3 2025
+ Net income, Linde plcQ2 2025
+ Net income, Linde plcQ1 2025
+ Net income, Linde plcQ4 2024)
÷ Total assets
= 100 × (1,929 + 1,766 + 1,673 + 1,725)
÷ 85,993 = 8.25%
2 Click competitor name to see calculations.
- Net Income Trends
- The net income exhibited generally positive growth over the observed period. Starting at $980 million in the first quarter of 2021, it experienced fluctuations with notable dips in mid-2022, particularly in the second quarter at $372 million. Subsequently, net income recovered significantly, reaching $1,929 million by the third quarter of 2025. Overall, the trajectory reflects expansion with periods of volatility, particularly in 2022.
- Total Assets Analysis
- Total assets showed a fluctuating but mostly stable pattern throughout the period. Beginning at approximately $85 billion in early 2021, assets declined somewhat during 2021 and mid-2022 to a low around $74 billion, followed by recovery phases reaching nearly $86 billion by late 2025. This indicates ongoing asset management adjustments with a general tendency toward asset growth in the longer term.
- Return on Assets (ROA) Observations
- ROA demonstrated a positive and upward trend, indicating improved profitability relative to asset base. Beginning at 3.42% in early 2021, the ratio steadily increased through the years, surpassing 8% by the third quarter of 2025. This improvement signals enhanced operational efficiency and effective utilization of assets in generating net income.
- Integrated Financial Performance Insights
- The data reveals that despite some volatility in net income, especially around mid-2022, the company effectively improved its profitability over time, as reflected by the rising ROA. The total assets experienced some contractions but generally trended upwards toward the end of the observed period, supporting the increased income generation capability. The consistent ROA increase amid asset fluctuations suggests strong management focus on capital efficiency and profit maximization.