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How Linde (LIN) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/31/2026
Linde plc — Linde is a global multinational chemical company and the world's largest industrial gas supplier by market share and revenue. · Wikipedia
More about the company
Founded by German scientist and engineer Carl von Linde in 1879 in Wiesbaden, Germany, the company is now headquartered in Woking, United Kingdom, and registered in Ireland as Linde plc. Linde plc was formed in 2018 through the merger of Linde AG and Praxair, which was founded in 1907 in the United States as Linde Air Products Company.
Key growth driver: Americas — the fastest-growing revenue line: $4,083, +7% y/y. · by the Q2 2026 report
How does Linde make money?
Linde brought in $9.29 billion of revenue in Q2 2026, up 9.3% year over year. The largest source was Americas: $4.08 billion, or 44% of the total, followed by EMEA ($2.30B, 25%) and APAC ($1.87B, 20%); other lines add the remaining 11%. Net income for the quarter was $1.93 billion, up 9.2% year over year.
Revenue by source, Q2 2026
- Americas$4.08B · 44% · +7%
- EMEA$2.30B · 25% · +7%
- APAC$1.87B · 20% · +13%
- Engineering$625M · 7% · +13%
- Other$408M · 4% · +30%
Shares of $9.29B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is LIN’s next earnings date?
Friday, October 30, 2026estimated
Linde (LIN) has not confirmed the date yet; Oct 30, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $4.52 (8 analysts), vs $4.21 in the same quarter last year.
What time does LIN report? Usually before market open: the last 4 results releases reached the SEC at 7:24 am, 6:47 am, 7:47 am, 6:45 am ET.
Last report: Jul 31, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$9,289
+9.3%
Gross profit
$4,428
+5.8%
47.7% margin
Operating income
$2,554
+8.5%
27.5% margin
Net income
$1,928
+9.2%
Diluted EPS $4.15 · +11%
Verdict: a solid, broad-based quarter with sales up 9% and operating profit up 8% driven by higher pricing, currency tailwinds and productivity gains across all geographic segments, while cost inflation and rising SG&A/D&A remain a modest drag on margins.
OCF (6M) $4,511M · buybacks $873M in Q2 ($1.7B repurchased at avg $504/sh) · dividends $738M in Q2 ($1.60/sh, +7% y/y) · $5.6B remaining under 2023 buyback program.
Source and notation
* marks non-cash / ≈ estimated. Source: Linde plc press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
LIN earnings history: past report dates
| Jul 31, 2026 Fri | 7:24 ambefore market open | Jun 30, 2026 | $9.3B+9% y/y | $4.15+11% y/y |
| May 1, 2026 Fri | 6:47 ambefore market open | Mar 31, 2026 | $8.8B+8% y/y | $3.98+13% y/y |
| Feb 5, 2026 Thu | 7:47 ambefore market open | Dec 31, 2025 | ≈$8.8B+6% y/y | ≈$3.28−9% y/y |
| Oct 31, 2025 Fri | 6:45 ambefore market open | Sep 30, 2025 | $8.6B+3% y/y | $4.09+27% y/y |
| Aug 1, 2025 Fri | 6:04 ambefore market open | Jun 30, 2025 | $8.5B+3% y/y | $3.73+8% y/y |
| May 1, 2025 Thu | 7:11 ambefore market open | Mar 31, 2025 | $8.1B+0% y/y | $3.51+5% y/y |
| Feb 6, 2025 Thu | 6:44 ambefore market open | Dec 31, 2024 | ≈$8.3B−0% y/y | ≈$3.61+15% y/y |
| Oct 31, 2024 Thu | 6:06 ambefore market open | Sep 30, 2024 | $8.4B+2% y/y | $3.22+1% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Linde: 5-year financials
| 2025 | 33,986 | 8,923 | 6,898 | 5,089 | 2,811 |
| 2024 | 33,005 | 8,635 | 6,565 | 4,926 | 2,655 |
| 2023 | 32,854 | 8,024 | 6,199 | 5,518 | 2,482 |
| 2022 | 33,364 | 5,369 | 4,147 | 5,691 | 2,344 |
| 2021 | 30,793 | 4,984 | 3,826 | 6,639 | 2,189 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 20262025 10-K: in November 2023 a Munich court rejected former Linde AG shareholders' claims for additional compensation in the €189.46-per-share squeeze-out and found the price adequate; the plaintiffs have appealed. sec.gov ↗
- Mar 2023Following shareholder approval, Linde delisted from the Frankfurt Stock Exchange: each share was automatically exchanged 1:1 for a share of a new holding company listed on the NYSE. sec.gov ↗
- Dec 2025Dividend per share rose from $3.85 (2020) to $6.00 (2025); diluted share count −11.1% over 5 years. data.sec.gov ↗
Scoring: 2.0, no deductions: single class of stock, share count −11% over 5 years, dividend raised every year; the squeeze-out of Linde AG minority holders (2019, €189.46) was found fair by a court in 2023; the 2023 Frankfurt delisting was a 1:1 exchange into shares of a new holding company, with no loss to shareholders
- Share classes
- Single class — LIN common stock on Nasdaq (cover of 2025 10-K).
- Dilution
- Diluted share count 2020→2025 −11.1% (XBRL); SBC 0.5% of revenue.
- Disclosure
- Full 10-K/10-Q reporting (an Irish plc that files with the SEC as a US domestic issuer).
- Dividends
- Dividend per share raised every year: $3.85 (2020) → $6.00 (2025); buybacks of $4–5.2B a year.
- Lawsuits & regulators
- No shareholder disclosure suits against Linde plc or SEC cases found in 10-Ks for 2019–2026; the challenge to the Linde AG minority squeeze-out price was rejected by a Munich court (November 2023), plaintiffs are appealing — no deduction for now.
- Related parties
- No transactions with a controlling shareholder (there is none); the 2023 reorganization with the Frankfurt delisting was a 1:1 exchange, and the shares remained on the NYSE.
How the score works · checked as of Sep 2026
Linde (LIN) earnings: FAQ
How does Linde make money?
Linde brought in $9.29 billion of revenue in Q2 2026, up 9.3% year over year. The largest source was Americas: $4.08 billion, or 44% of the total, followed by EMEA ($2.30B, 25%) and APAC ($1.87B, 20%); other lines add the remaining 11%. Net income for the quarter was $1.93 billion, up 9.2% year over year.
When is LIN's next earnings date?
Linde (LIN) has not confirmed the date yet; Oct 30, 2026 is an estimate based on its past reporting schedule.
What time does LIN report earnings?
Linde usually reports before market open: its latest results release was filed with the SEC at 7:24 am ET on Jul 31, 2026.
When did LIN last report earnings?
Linde reported Q2 2026 results on Jul 31, 2026.
What is the EPS estimate for LIN's next earnings?
The consensus EPS forecast is $4.52 (8 analysts), vs $4.21 in the same quarter last year.
Where can I find Linde's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to LIN's filings; this page breaks the latest report down in a Sankey chart.
What was LIN's net income in Q2 2026?
Linde reported net income of $1,928M for Q2 2026 (+9.2% year over year), under US GAAP.
Does Linde pay dividends?
Yes. In 2025, Linde paid $2,811M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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