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LIN Linde plc

FY2025 10-K
Filed: Feb 25, 2026
Health Care
Industrial Inorganic ChemicalsSEC EDGAR
Linde plc Overview

Linde plc (LIN) filed its fiscal year 2025 10-K annual report with the SEC on Feb 25, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.

AI Filing Analysis
FY2025 10-K

Business Overview

  • • World's largest industrial gas company; $33,986M revenue in FY2025, up ~3% YoY from $33,005M in FY2024
  • • ~64% of 2025 sales outside U.S., spanning ~85 countries across EMEA, APAC, and Americas
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Management Discussion & Analysis

  • • Revenue $33,986M, up $981M (+3%) YoY; price/mix +2%, acquisitions +1%, volumes flat, currency and cost pass-through neutral
  • • Reported operating margin 26.3% vs 26.2%; adjusted operating margin 29.8% vs 29.5%; cost of sales fell to 51.2% of sales from 51.9%
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Risk Factors

  • • Goodwill and indefinite-lived intangible assets ~$30B combined ($28B + $2B) at risk of impairment from economic disruption or market cap decline
  • • Energy largest single cost item in gas production; regional supply disruptions unpredictable and not fully hedged via customer pass-through clauses
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Financial Summary
XBRL

Revenue

$34.0B

Net Income

$6.9B

Operating Margin

26.3%

Net Margin

20.3%

ROE

18.0%

Total Assets

$86.8B

EPS (Diluted)

$14.61

Operating Cash Flow

$10.3B

Source: XBRL data from Linde plc FY2025 10-K filing on SEC EDGAR. All figures in USD.

Other Linde plc Annual Reports

FY2024 10-K

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