Linde plc (LIN)
NASDAQMaterialsSpecialty ChemicalsSnapshot 2026-07-07
$538.23-0.42%
Close 2026-07-07 · 1-day change
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Track LIN free→Intact: The reason to own it still holds.
Linde is the largest industrial gas company with steady 7% to 9% EPS growth guidance for 2026. It invests $5B to $5.5B in capital expenditures to support growth and maintenance. Recent beats and raised guidance show strong execution. Partnerships like SpaceX add growth potential.
Growth could slow if industrial demand weakens or if capital spending fails to generate returns. High valuation at nearly 32 PE risks disappointment if EPS growth misses targets.
The price is about 33% above our fair value near $406 and 29% below the Street median target of $575. Analysts expect about 7% revenue growth, which aligns with management guidance, but the valuation is expensive versus fundamentals.
Breaks if: CAPEX falls below $5.0B in FY26
Linde plans to allocate $5 billion to $5.5 billion in capital expenditures for 2026 to support growth and maintenance.
Standing thesis, reviewed periodically — not a price target or advice.
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Stated in 4 of last 4 quarters. CAPEX guidance for 2026 is $5.0 billion to $5.5 billion. Q1 2026 capital expenditures were $1.342 billion, indicating ongoing investment in growth and maintenance. The trajectory shows consistent allocation towards the stated CAPEX priority.
“Full-year capital expenditures are expected to be in the range of $5.0 billion to $5.5 billion.”
“Full-year capital expenditures are expected to be in the range of $5.0 billion to $5.5 billion.”
“Full-year capital expenditures are expected to be in the range of $5.0 billion to $5.5 billion.”
“Full-year capital expenditures are expected to be in the range of $5.0 billion to $5.5 billion.”
Breaks if: EPS falls below $17.60 in FY26
Linde aims to achieve a 7% to 9% increase in adjusted diluted earnings per share for the full year 2026.
Stated in 3 of last 3 quarters. EPS guidance for 2026 is $17.60 to $17.90, up 7% to 9%. Q1 2026 EPS was $3.98, up 13% YoY, indicating progress towards the annual target. The trajectory is delivering against the stated growth priority.
“Full-year 2026 adjusted EPS guidance of $17.60 - $17.90 representing 7% to 9% growth.”
“For the full year 2026, the company expects adjusted diluted earnings per share to be in the range of $17.40 to $17.90.”
“For the full year 2026, the company expects adjusted diluted earnings per share to be in the range of $17.40 to $17.90.”
Breaks if: Q2 EPS falls below $4.40
Linde aims for an 8% to 10% increase in adjusted diluted EPS for the second quarter of 2026.
Stated in 2 of last 2 quarters. Q2 2026 EPS guidance is $4.40 to $4.50, up 8% to 10%. Q1 2026 EPS was $3.98, up 13% YoY, suggesting positive momentum towards achieving the Q2 growth target. The trajectory is aligned with the stated EPS growth priority.
“For the second quarter of 2026, Linde expects adjusted diluted earnings per share in the range of $4.40 to $4.50, up 8% to 10%.”
“For the second quarter of 2026, Linde expects adjusted diluted earnings per share in the range of $4.40 to $4.50.”