Stock Analysis on Net
Stock Analysis on Net

Linde plc (NASDAQ:LIN)

$24.99

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Linde plc, consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 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
Sales
Cost of sales, exclusive of depreciation and amortization
Gross margin
Selling, general and administrative
Depreciation and amortization
Research and development
Cost reduction program and other charges
Other income (expense), net
Operating profit
Interest expense, net
Net pension and OPEB benefit, excluding service cost
Income before income taxes and equity investments
Income taxes
Income from continuing operations before equity investments
Income from equity investments
Income from continuing operations, including noncontrolling interests
Income from discontinued operations, net of tax
Net income, including noncontrolling interests
Noncontrolling interests
Net income, Linde plc

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).


The financial trajectory exhibits a sustained expansion in both top-line revenue and bottom-line profitability over the analyzed period. Sales grew from 7,243 million USD in March 2021 to a projected 9,289 million USD by June 2026, reflecting a consistent upward trend with moderate quarterly fluctuations. This revenue growth is mirrored by a significant increase in gross margin, which rose from 3,189 million USD to 4,428 million USD, indicating an improvement in production efficiency or pricing power.

Operating Performance and Profitability
Operating profit demonstrates a strong growth trend, rising from 1,213 million USD in March 2021 to 2,554 million USD by June 2026. A notable anomaly occurred in June 2022, where operating profit dropped to 589 million USD; this decline is directly attributable to a one-time cost reduction program charge of 993 million USD. Excluding this outlier, the operational growth is linear and robust.
Expense Management
Selling, general, and administrative expenses remained relatively controlled, moving from 787 million USD to 891 million USD over the period, suggesting that operating leverage is increasing as revenue grows faster than overhead. Depreciation and amortization showed a gradual decline from 1,166 million USD in early 2021 to stabilizing around 950 million USD in later periods. Research and development expenditures remained highly stable, consistently fluctuating between 34 million USD and 39 million USD.
Net Income and Bottom-Line Trends
Net income attributable to Linde plc increased from 980 million USD in March 2021 to 1,928 million USD by June 2026. The growth in net income closely tracks the rise in operating profit, despite a gradual increase in net interest expenses, which rose from 20 million USD to 61 million USD. The impact of net pension and OPEB benefits provided a consistent positive contribution, generally ranging between 35 million USD and 64 million USD per quarter.
Taxation and Equity Investments
Income tax expenses increased in absolute terms as profitability grew, rising from 268 million USD to 610 million USD. Income from equity investments remained a stable supplementary revenue stream, typically contributing between 35 million USD and 50 million USD per quarter.