Linde plc, current enterprise value calculation

Current share price (P)	$452.66
No. shares of common stock outstanding	471,294,205
US$ in millions
Common equity (market value)¹	213,336)
Add: Noncontrolling interests (per books)	1,383)
Total equity	214,719)
Add: Short-term debt (per books)	4,223)
Add: Current portion of long-term debt (per books)	2,057)
Add: Current finance lease liabilities (per books)	54)
Add: Long-term debt, excluding current portion (per books)	15,343)
Add: Long-term finance lease liabilities (per books)	150)
Total equity and debt	236,546)
Less: Cash and cash equivalents	4,850)
Enterprise value (EV)	231,696)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 452.66 × 471,294,205

Linde plc, EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$461.55	$451.20	$348.37	$293.24	$251.49
No. shares of common stock outstanding¹	472,911,618	481,576,472	492,160,806	507,744,577	522,836,425
US$ in millions
Common equity (market value)³	218,272)	217,287)	171,454)	148,891)	131,488)
Add: Noncontrolling interests (book value)	1,383)	1,362)	1,346)	1,393)	2,252)
Total equity	219,655)	218,649)	172,800)	150,284)	133,740)
Add: Short-term debt (book value)	4,223)	4,713)	4,117)	1,163)	3,251)
Add: Current portion of long-term debt (book value)	2,057)	1,263)	1,599)	1,709)	751)
Add: Current finance lease liabilities (book value)	54)	50)	42)	47)	38)
Add: Long-term debt, excluding current portion (book value)	15,343)	13,397)	12,198)	11,335)	12,152)
Add: Long-term finance lease liabilities (book value)	150)	143)	114)	129)	125)
Total equity and debt	241,482)	238,215)	190,870)	164,667)	150,057)
Less: Cash and cash equivalents	4,850)	4,664)	5,436)	2,823)	3,754)
Enterprise value (EV)	236,632)	233,551)	185,434)	161,844)	146,303)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Linde plc Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 461.55 × 472,911,618

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Linde plc EV increased from 2022 to 2023 and from 2023 to 2024.

Linde plc (NASDAQ:LIN)

Enterprise Value (EV)