Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Linde plc (NYSE:LIN)

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Enterprise Value to FCFF (EV/FCFF)

Intermediate level


Free Cash Flow to The Firm (FCFF)

Linde plc, FCFF calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income, Linde plc
Noncontrolling interests
Net noncash charges
Working capital
Net cash provided by operating activities
Interest paid, net of capitalized interest, net of tax1
Interest capitalized, net of tax2
Capital expenditures
Free cash flow to the firm (FCFF)

Based on: 10-K (filing date: 2020-03-02), 10-K (filing date: 2019-03-18), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-02-24).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Linde plc’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Linde plc’s FCFF increased from 2017 to 2018 and from 2018 to 2019.

Interest Paid, Net of Tax

Linde plc, interest paid, net of tax calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Interest paid, net of capitalized interest, before tax
Less: Interest paid, net of capitalized interest, tax2
Interest paid, net of capitalized interest, net of tax
Interest Costs Capitalized, Net of Tax
Interest capitalized, before tax
Less: Interest capitalized, tax3
Interest capitalized, net of tax

Based on: 10-K (filing date: 2020-03-02), 10-K (filing date: 2019-03-18), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-02-24).

1 See details »

2 2019 Calculation
Interest paid, net of capitalized interest, tax = Interest paid, net of capitalized interest × EITR
= × =

3 2019 Calculation
Interest capitalized, tax = Interest capitalized × EITR
= × =


Enterprise Value to FCFF Ratio, Current

Linde plc, current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Air Products & Chemicals Inc.
Ecolab Inc.
EV/FCFF, Sector
Chemicals
EV/FCFF, Industry
Basic Materials

Based on: 10-K (filing date: 2020-03-02).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Linde plc, historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
Air Products & Chemicals Inc.
Ecolab Inc.
EV/FCFF, Sector
Chemicals
EV/FCFF, Industry
Basic Materials

Based on: 10-K (filing date: 2020-03-02), 10-K (filing date: 2019-03-18), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-02-24).

1 See details »

2 See details »

3 2019 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Linde plc’s EV/FCFF ratio increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.