Linde (LIN) 10-K Summary — Year Ended Dec 31, 2023
Linde plc is the largest industrial gas company globally, supplying atmospheric and process gases along with gas production equipment. In the most recent annual period, revenue declined slightly while operating income and net income remained substantial, and operating cash flow was robust.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Linde plc is the largest industrial gas company globally, supplying atmospheric and process gases along with gas production equipment. In the most recent annual period, revenue declined slightly while operating income and net income remained substantial, and operating cash flow was robust.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$32.9B
Revenue reported for the fiscal year.
Operating income
$8B
Income from operations reported for the year.
Net income
$6.2B
Net income reported for the year.
Operating cash flow
$9.3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $30.8B | n/a |
| Dec 31, 2022 | $33.4B | +8.3% |
| Dec 31, 2023 | $32.9B | -1.5% |
Business overview
Linde produces atmospheric gases such as oxygen, nitrogen, and argon, as well as process gases including carbon dioxide, helium, and hydrogen. The company also designs and builds equipment for gas production, such as air separation and hydrogen plants, serving industries like healthcare, chemicals, manufacturing, and electronics.
Financial performance
Revenue for the year decreased slightly compared to the prior year, following an increase in the previous period. Operating income and net income were reported at high levels, and operating cash flow was strong.
Material risks
The filing notes forward-looking statements involve risks and uncertainties, including stock market performance and other unspecified developments. No specific material risks beyond general cautionary language are detailed in the provided context.
Liquidity and capital
The filing references a discussion of liquidity and capital resources for the most recent two years, but no specific capital allocation themes are provided in the supplied context.
What to watch
Readers should monitor whether revenue growth resumes or continues to decline in the next filing.