Financial Performance - Linde's sales for 2025 reached $33,986 million, showing an increase from $33,005 million in 2024 and $32,854 million in 2023[18]. - Reported operating profit for 2025 was $8,923 million, up 3% from $8,635 million in 2024, while adjusted operating profit increased 4% to $10,137 million from $9,720 million[130]. - Net income for Linde plc in 2025 was $6,898 million, a 5% increase from $6,565 million in 2024, with diluted earnings per share rising to $14.61 from $13.62[130]. - Cash flow from operations reached $10,350 million, an increase of $927 million compared to 2024, primarily due to higher net income and lower working capital requirements[130]. - Total sales increased by $981 million, or 3%, to $33,986 million in 2025 compared to 2024[181]. - Operating profit rose by $288 million, or 3.3%, to $8,923 million in 2025, driven by higher pricing and productivity initiatives[181]. - Adjusted EBITDA for 2025 was $13,351 million, a 4% increase from $12,819 million in 2024, with an adjusted EBITDA margin of 39.3%[133]. - Reported net income for Linde plc rose by $333 million, or 5%, while adjusted net income increased by $297 million, or 4%[153]. Sales and Market Presence - Approximately 64% of Linde's 2025 sales were generated outside the United States, indicating a strong international presence[30]. - Linde's industrial gas operations generated 90% of sales from the Americas, EMEA, and APAC segments, highlighting the company's strong market presence in these regions[122]. - Sales in the Americas segment increased by $766 million, or 5%, with higher pricing contributing 3% and volumes contributing 1%[183]. - EMEA segment sales grew by $197 million, or 2%, with currency translation increasing sales by 3%[187]. - APAC segment sales remained flat at $6,661 million, with acquisitions contributing 2% and volumes decreasing by 1%[190]. - Engineering segment sales decreased by $72 million, or 3%, primarily due to project timing, despite a 3% increase from currency translation[194]. Operational Efficiency and Costs - Energy costs represent the largest expense in Linde's production and distribution processes, with strategies in place to mitigate price fluctuations[34]. - Cost of sales, excluding depreciation and amortization, was $17,389 million, representing 51.2% of sales, a decrease from 51.9% in 2024 due to higher pricing and productivity gains[133]. - Selling, general and administrative expenses increased by 3% to $3,433 million, maintaining 10.1% of sales, influenced by acquisitions and cost inflation[138]. - The company is actively involved in developing proprietary technologies for gas production and distribution, enhancing operational efficiencies for customers[19]. Research and Development - Linde's research and development efforts are directed towards gas processing, clean energy technologies, and new industrial gas applications[32]. - The company is a leader in low-carbon hydrogen production, utilizing technologies such as steam methane reformation and electrolysis[21]. - Linde's research and development efforts focus on new technologies for industrial gases, which are crucial for maintaining competitive advantage[69]. Workforce and Employment - Linde's workforce consisted of 65,177 employees as of December 31, 2025, with approximately 28% being women[43]. - The number of employees decreased by 112 to 65,177 in 2025, mainly due to ongoing cost reduction programs[155]. Financial Position and Debt - Total net debt outstanding at December 31, 2025, was $21,933 million, an increase of $5,160 million from $16,773 million at the end of 2024[215]. - Linde's global effective borrowing rate was approximately 2.3% for 2025[215]. - The company maintains a $5 billion and a $1.5 billion unsecured and undrawn revolving credit agreement with no associated financial covenants[216]. Risks and Challenges - Linde's international operations are subject to risks including currency exchange rate fluctuations, which could adversely affect financial results[63]. - The company faces legal and compliance risks due to anti-corruption, trade, and economic sanctions laws, which could lead to significant penalties and affect its reputation[80]. - Catastrophic events, such as natural disasters and health epidemics, could disrupt Linde's operations and adversely affect financial results[66]. - Linde is exposed to risks from changes in regulations related to environmental protection and climate change, which may adversely impact its market behavior and operations[79]. - Integration challenges from acquisitions may divert management focus and lead to difficulties in achieving targeted synergies and retaining key employees[81]. - The company has significant pension obligations that may impact future results of operations and required pension contributions[70]. Capital Expenditures and Investments - Capital expenditures totaled $5,261 million, up from $4,497 million in 2024[203]. - Approximately 60% of capital expenditures were allocated to the Americas segment, with 21% in the APAC segment[208]. - Acquisitions in 2025 totaled $412 million, an increase of $95 million from 2024, mainly in the EMEA and APAC segments[209].

Linde Increases Dividend 7%Feb 24, 2026 12:58 PM Eastern Standard Time# Linde Increases Dividend 7%Share---WOKING, England--([BUSINESS WIRE])-- Linde plc (Nasdaq: LIN) today announced its Board of Directors has declared a 7% increase in the company's quarterly dividend to $1.60 per share. This marks the 33rd consecutive year of quarterly dividend increases on the company's common stock.The dividend is payable on March 26, 2026, to shareholders of record on March 11, 2026.About LindeLinde is a leading global ...

According to the most recent 13F filings, institutional investors continued to make targeted moves in Linde plc (LIN), reflecting sustained confidence in the global industrial gases leader amid steady end-market demand, strong pricing power, and consistent cash-flow generation.Several prominent hedge funds and long-term institutional managers increased exposure last quarter, signaling ongoing conviction in Linde’s defensive industrial positioning and structural growth tied to healthcare, clean energy, and a ...

Linde plc (NASDAQ:LIN) is included among the 16 Best Dividend Stocks with Rising Payouts. Linde (LIN) Gets Price Target Increase from BMO Capital Ahead of 2026 Outlook On February 10, BMO Capital analyst John McNulty slightly raised his price recommendation on Linde plc (NASDAQ:LIN) to $507 from $501. The analyst maintained an Outperform rating on the shares. He noted that the company is heading into 2026 with a stronger project backlog and continued pricing strength. These factors should help balance on ...

Core Insights - The CEO of CSX Corp. is focused on enhancing efficiency and performance to generate shareholder returns while remaining open to potential merger opportunities as industry consolidation occurs [1][2] Company Strategy - Steve Angel, the president and CEO, expressed a willingness to explore any avenues that could enhance shareholder value, particularly in light of activist investor Ancora Holdings Group advocating for a merger [2] - The proposed $72 billion merger between Union Pacific Corp. and Norfolk Southern Corp. presents both challenges and opportunities for CSX, with the Surface Transportation Board having extensive tools to evaluate the merger [3] - Angel emphasized a focus on improving shareholder returns without relying solely on growth, stating a preference for cost management over growth [3] Management Changes - Recent changes in CSX's management include the appointment of Kevin Boone as CFO and Riz Chand as chief human resources officer, following the retirement of Diana Sorfleet [5] - The company has initiated cost-cutting measures, including closing its aerospace division, selling corporate jets, and reducing consultant usage [4] Operational Focus - CSX operates a rail network of approximately 20,000 miles across 26 states and parts of Canada, indicating a significant operational footprint in the freight rail industry [6] - Angel aims to foster a culture of "continuous improvement" within the company, emphasizing collaboration with staff and unions to achieve incremental changes [5][6]

As Tech Stocks Stumble Industrials Are A Buy in 2026 (And 3 Stocks Leading the Way) - 24/7 Wall St.[S&P 5006,904.00 +0.76%][Dow Jones49,822.00 +0.52%][Nasdaq 10025,032.40 +1.26%][Russell 20002,676.42 +1.08%][FTSE 10010,701.40 +1.20%][Nikkei 22557,668.00 +1.08%][Stock Market Live February 19, 2026: S&P 500 (SPY) Up Ahead of Key Fed News][Investing]# As Tech Stocks Stumble Industrials Are A Buy in 2026 (And 3 Stocks Leading the Way)### Quick ReadAir Products (APD) delivered 10% earnings growth in Q1 with $3.1 ...

经济观察网 基于公开信息，林德（LIN.US）近期有以下值得关注的事件： 公司项目推进 根据林德2025年业绩报告，公司手头项目订单达创纪录的100亿美元，并计划在未来数月内宣布赢得新 的标志性制造工厂订单，这可能涉及清洁能源或电子制造领域。 以上内容基于公开资料整理，不构成投资建议。 ...

Group 1 - Morgan Stanley raised the price target on Linde (LIN) to $530 from $495, maintaining an Overweight rating on the shares [1] - The operating environment remains challenging, but Linde is expected to show better growth in 2026 compared to 2025 due to fewer and less intense headwinds [1] - Factors contributing to Linde's anticipated growth include increased productivity, benefits from project startups and bolt-on acquisitions, foreign exchange tailwinds, and potential macroeconomic improvements as the year progresses [1]

Core Insights - Linde plc is a leading global industrial gases and engineering company with a significant market presence, competing with major players like Air Liquide and Air Products and Chemicals [1][5] - Morgan Stanley has set a price target of $530 for Linde, indicating a potential upside of 17.3% from its current trading price of $451.85 [1][5] Financial Performance - Linde's recent Q4 2025 earnings call provided valuable insights into its financial performance, including key metrics such as revenue and profit margins, which are essential for understanding its market position [2][5] - The company's stock price is currently $451.54, reflecting a decrease of 1.77% or $8.15, with fluctuations observed today [3] - Over the past year, Linde's stock has reached a high of $486.38 and a low of $387.78, indicating volatility in its market performance [3] Market Metrics - Linde's market capitalization is approximately $210.85 billion, showcasing its significant presence in the industrial gases sector [4] - The trading volume for Linde today is 1,006,735 shares on the NASDAQ exchange, reflecting active investor interest [4]

Core Insights - Linde's backlog is approximately $10 billion, with about two-thirds supporting contracted clean energy projects, and the company expects $2.5 to $3 billion of projects to commence in 2026 [3][18] - The CEO described the economic environment for 2025 as divided, with strong investment in AI and digital infrastructure contrasted by weakness in traditional industrial markets [2] - Linde's 2026 earnings guidance projects EPS of $17.40 to $17.90, reflecting 6% to 9% growth, with flat underlying volumes assumed at the midpoint [4][12] Financial Performance - In Q4, Linde reported sales of $8.8 billion, a 6% increase year-over-year, with an operating profit of $2.6 billion and a margin of 29.5% [5][6] - The company increased share repurchases to $1.4 billion in Q4, capital expenditures rose by 17% to support the backlog, and operating cash flow exceeded $3 billion [8][9][10] - Full-year investments for growth reached about $6 billion, with $7.4 billion returned to shareholders through dividends and repurchases [11] Market Dynamics - The company noted regional demand disparities, with Europe experiencing broad-based weakness, while the U.S. market showed resilience [15][16] - In APAC, Linde observed signs of recovery in China, with strong growth in India, although the ASEAN region remained stable [17] - The company is targeting a rebuild of its "sale of gas backlog" towards $7 billion, with expectations for significant project startups in 2026 [18] Strategic Initiatives - Linde is undertaking additional restructuring actions to improve its cost position, primarily affecting headcount and engineering [14] - The company sees a secular growth opportunity in the commercial space sector, with over $500 million invested in rocket propellants for contracted space launches [19][20] - Helium and rare gases are projected to be a 1% to 2% EPS headwind in 2025, with ongoing pricing challenges in the helium market [21]