Skip to content
AnalystLens

LINDE PLC 8-K Report, Financial Results (Feb 5, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 5, 2026
Period End
February 5, 2026
Security
LIN
In the record · 2017–202610-K910-Q258-K80

LIN filed 9 annual reports (10-K), 25 quarterly reports (10-Q) and 80 current reports (8-K) between 2017 and 2026.

  1. Deal closed8-K · Mar ’19Mar ’19
  2. Leadership change8-K · Jan ’21Jan ’21
  3. Leadership change8-K · Jan ’23Jan ’23
  4. Material agreement8-K · Dec ’24Dec ’24

01—Abstract

Summary

Summary of the 8-K filed February 5, 2026. Cited figures are marked; the original filing is the authoritative source.

Linde plc (Nasdaq: LIN) reported full-year and fourth-quarter 2025 results in an 8-K furnished on February 5, 2026.

For full-year 2025, sales were $34.0 billiona, up 3% year over year, with underlying sales up 2% from 2% price attainment and stable volumes, plus 1% from bolt-on acquisitions. Adjusted operating profit was $10.1 billion, up 4%, with an adjusted operating margin of 29.8%, 30 basis points higher than 2024. Diluted EPS was $14.61 and adjusted diluted EPS was $16.46, up 6%.

Operating cash flow rose 10% to $10.4 billionb, and the company returned $7.4 billion to shareholders through dividends and net buybacks. Management cited ROC of 24.2% and a total project backlog of $10.0 billion. Fourth-quarter results were similarly steady.

Sales were $8.8 billionc, up 6%, with underlying sales up 3% driven by pricing and project start-ups. Adjusted operating profit rose 4% to $2.6 billion, though the adjusted margin of 29.5% was 40 basis points below the prior year. GAAP diluted EPS fell 9% to $3.26, reflecting Linde AG purchase accounting and restructuring charges.

Americas drove growth, with sales up 8% and a 30.9% operating margin. EMEA underlying sales declined 2% on lower volumes in chemicals & energy, and Linde Engineering sales fell 2% to $615 milliond. For 2026, Linde guided full-year adjusted EPS to $17.40-$17.90, implying 6%-9% growth, or 5%-8% excluding currency tailwinds.

Capital expenditures are expected at $5.0-$5.5 billion, and Q1 2026 adjusted EPS guidance is $4.20-$4.30. Investors should note that the guidance relies on non-GAAP adjusted EPS, that a meaningful share of growth is currency-driven, and that the company did not provide a GAAP reconciliation for its forward guidance.

02—Key points

Key Highlights

  1. FY2025 sales of $34.0 billion (+3% YoY), with underlying growth of 2% driven by pricing and stable volumes
  2. FY2025 adjusted operating margin of 29.8%, up 30 bps, and adjusted operating profit of $10.1 billion (+4%)
  3. FY2025 adjusted diluted EPS of $16.46 (+6%) versus GAAP diluted EPS of $14.61
  4. Operating cash flow of $10.4 billion (+10%); $5.3 billion capex; $7.4 billion returned to shareholders
  5. Q4 2025 GAAP diluted EPS of $3.26 (-9%) with adjusted EPS of $4.20 (+6%), reflecting Linde AG purchase accounting and restructuring charges
  6. 2026 adjusted EPS guidance of $17.40-$17.90 (+6%-9%, or +5%-8% ex-FX); capex guidance of $5.0-$5.5 billion
  7. Total project backlog of $10.0 billion; Linde Engineering Q4 order intake of $434 million

03—Questions

Frequently Asked Questions

  1. How did Linde perform in fiscal 2025?

    Linde reported 2025 sales of $34.0 billion, up 3%, with underlying sales up 2% from pricing and flat volumes. Adjusted operating profit reached $10.1 billion, up 4%, at a 29.8% margin. Adjusted EPS was $16.46, up 6%, while GAAP diluted EPS was $14.61.

  2. What is Linde's 2026 outlook?

    Linde guided 2026 adjusted diluted EPS to $17.40-$17.90, implying 6%-9% growth, or 5%-8% excluding estimated currency tailwinds. Q1 2026 adjusted EPS is expected at $4.20-$4.30. Full-year capex is projected at $5.0-$5.5 billion.

  3. Why did GAAP EPS decline in the fourth quarter while adjusted EPS grew?

    Q4 2025 GAAP diluted EPS fell 9% to $3.26 and net income fell 11%, largely due to Linde AG purchase accounting impacts and a restructuring charge. Excluding these items, adjusted EPS rose 6% to $4.20 and adjusted net income rose 4%.

  4. How strong is Linde's cash generation and capital return?

    Operating cash flow was $10.4 billion in 2025, up 10%, after $5.3 billion of capital expenditures. Linde returned $7.4 billion to shareholders through dividends and net share repurchases, and Q4 free cash flow was $1.57 billion.

  5. Are there any areas of weakness in the business?

    EMEA underlying sales fell 2% in Q4 on 3% lower volumes, mainly in chemicals & energy, and Q4 adjusted operating margin contracted 40 basis points year over year. Linde Engineering sales declined 2% to $615 million in the quarter, though backlog remained substantial at $2.7 billion in third-party equipment.

04—Continue

← View all 8-K filings