Stock Analysis on Net
Stock Analysis on Net

Linde plc (NASDAQ:LIN)

Common-Size Income Statement

Linde plc, common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Sales 100.00 100.00 100.00 100.00 100.00
Cost of sales, exclusive of depreciation and amortization -53.24 -58.30 -56.97 -56.47 -58.96
Gross margin 46.76% 41.70% 43.03% 43.53% 41.04%
Selling -4.05 -3.88 -4.36 -4.78 -5.67
General and administrative -5.98 -5.43 -6.00 -6.94 -6.58
Selling, general and administrative -10.03% -9.31% -10.36% -11.72% -12.25%
Depreciation -9.94 -10.89 -12.70 -14.17 -13.96
Amortization of intangibles -1.67 -1.71 -2.35 -2.81 -2.60
Depreciation and amortization -11.62% -12.60% -15.05% -16.98% -16.56%
Research and development -0.44 -0.43 -0.46 -0.56 -0.65
Other charges -0.12 -3.08 -0.89 -1.86 -2.01
Net gain on sale of businesses 0.00 0.00 0.00 0.00 0.58
Currency related net gains (losses) -0.14 -0.05 -0.09 -0.10 -0.04
Partnership income 0.01 0.05 0.04 0.04 0.03
Severance expense -0.04 -0.04 -0.02 -0.02 -0.02
Asset divestiture gains (losses), net 0.02 -0.03 -0.10 -0.29 0.04
Other, net gains (losses) 0.03 -0.12 0.08 0.15 0.24
Other income (expenses), net -0.12% -0.19% -0.08% -0.22% 0.24%
Operating profit 24.42% 16.09% 16.19% 12.19% 10.39%
Interest expense -1.21 -0.54 -0.38 -0.62 -0.53
Interest income 0.60 0.35 0.13 0.20 0.40
Interest expense, net -0.61% -0.19% -0.25% -0.42% -0.13%
Net pension and OPEB (cost) benefit, excluding service cost 0.50 0.71 0.62 0.65 0.11
Income before income taxes and equity investments 24.31% 16.61% 16.56% 12.42% 10.37%
Income taxes -5.52 -4.30 -4.10 -3.11 -2.72
Income from continuing operations before equity investments 18.79% 12.32% 12.46% 9.31% 7.64%
Income from equity investments 0.51 0.52 0.39 0.31 0.40
Income from continuing operations, including noncontrolling interests 19.30% 12.83% 12.85% 9.62% 8.05%
Income from discontinued operations, net of tax 0.00 0.00 0.02 0.01 0.39
Net income, including noncontrolling interests 19.30% 12.83% 12.86% 9.64% 8.43%
Noncontrolling interests -0.43 -0.40 -0.44 -0.46 -0.34
Net income, Linde plc 18.87% 12.43% 12.42% 9.18% 8.09%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating profit The net result for the period of deducting operating expenses from operating revenues. Linde plc operating profit as a percentage of sales decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Income before income taxes and equity investments Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Linde plc income before income taxes and equity investments as a percentage of sales increased from 2021 to 2022 and from 2022 to 2023.
Net income, Linde plc The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Linde plc net income, Linde plc as a percentage of sales increased from 2021 to 2022 and from 2022 to 2023.