Linde does Linde things

Here's the the latest news from Linde $LIN (-6,28%)
(NASDAQ: LIN) Q2 2026 Earnings Release:

🚀 Top-line Performance & Record Revenue

Linde plc $LIN surpassed the $9.29 billion . This represents robust growth of +9.0% year-over-year (organic growth of +4.0%, driven by +2% pricing power and +2% volume). The industrial gas giant thus easily shattered Wall Street’s expectations (the consensus was ~$8.96 to $9.02 billion). The main drivers were the electronics, manufacturing, and chemicals & energy end markets.

🔮 Record-High Backlog

The fact that the engine continues to run with rock-solid predictability is evident from the full order backlog:

Project Backlog: Climbed to the staggering mark of $11.0 billion (driven by massive large-scale orders from the semiconductor/electronics industry and the decarbonization sector).

Cash Flow Machine: Operating cash flow for the quarter was $2.27 billion (+3% Y/Y). After deducting CapEx of 1.44 billion USD, $833 million in net free cash flow.

🤖 Double-digit EPS growth & record margins

The bottom line is that Linde remains the undisputed benchmark for margin discipline:

The GAAP net income rose by +9.0% to $1.93 billion.

Adjusted earnings per share (Adjusted EPS) climbed by +10.0% year-over-year to $4.50 (previous year: $4.09) and hit the upper end of expectations exactly.

The adjusted operating margin reached a rock-solid 29.5% with operating profit of $2.74 billion (+7% Y/Y).

📈 Raised Full-Year Forecast & Perks for Shareholders

Forecast Upgrade: CEO Sanjiv Lamba is raising the bar for the full year 2026. Linde now expects adjusted EPS of between $17.70 and $17.90 (an increase of +8% to +9% year-over-year). For Q3, Linde is projecting adjusted EPS of $4.55 to $4.65 (+6% to +8%).

Capital Return: In the past quarter alone, Linde returned $1.59 billion directly to shareholders through dividends and aggressive share buybacks.

⚡ 💡 Jack’s Conclusion

What a masterclass in precision! 9% revenue growth, a 10% jump in EPS, and a $11 billion order backlog prove that Linde is perfectly leveraging its pricing power and margins despite global macroeconomic uncertainties. That’s defensive, fortress-like quality with built-in immunity to interest rates and inflation!

Olli@Olli68

$LIN

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Philipp@Lippe

At what point do you think Linde is worth buying as an initial investment for the long term?

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Brian@Aktienhauptmeister

@Lippe Hey @Lippe ✌️With a quality monopoly like Linde, you have to let go of the idea that you’ll ever be able to snag the stock on a “special deal.”

Here’s my assessment for an initial investment with a long-term holding horizon:

1. The Reality of Valuation
Historically, Linde has almost always traded at a substantial quality premium. The P/E ratio is currently back in the range of 28x to 30x forward EPS.
Anyone waiting for a stalwart like Linde to drop to a P/E ratio of 15 is usually waiting in vain—unless there’s a global market crash.

2. The Strategy for the Initial Investment
Tranche Approach / Savings Plan: For companies with this level of pricing power, consistent share buybacks, and a $11 billion order backlog, a phased entry (e.g., first tranche now, remainder via a savings plan or during dips) makes the most sense.
Add-on Zones (Dip Targets): Should the overall market correct again and Linde return to a P/E ratio of 24–25x, this would be an absolute dream zone for long-term investors to add to their positions.

⚡ In short: For an investment horizon of 5–10+ years, there’s absolutely no reason not to make this an initial addition to your portfolio. Historically, holding onto Linde stock over time has almost always outperformed trying to time the market! 🎯

Linde does Linde things 🚀