Linde (LIN) 10-K Summary — Year Ended Dec 31, 2025
Linde plc is the world's largest industrial gas company, serving diverse industries with atmospheric and process gases as well as gas production equipment. In the most recent fiscal year, the company reported higher revenue compared to the prior year, along with operating income, net income, and operating cash flow.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Linde plc is the world's largest industrial gas company, serving diverse industries with atmospheric and process gases as well as gas production equipment. In the most recent fiscal year, the company reported higher revenue compared to the prior year, along with operating income, net income, and operating cash flow.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$34B
Revenue reported for the fiscal year.
Operating income
$8.9B
Income from operations reported for the year.
Net income
$6.9B
Net income reported for the year.
Operating cash flow
$10.4B
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, 2022 | $33.4B | +8.3% |
| Dec 31, 2023 | $32.9B | -1.5% |
| Dec 31, 2024 | $33B | +0.5% |
| Dec 31, 2025 | $34B | +3.0% |
Business overview
Linde is the largest industrial gas company globally and a major technological innovator. Its primary products include atmospheric gases such as oxygen and nitrogen, and process gases such as hydrogen and helium. The company also designs and builds equipment for gas production and offers processing services to industries including healthcare, chemicals, manufacturing, and electronics.
Financial performance
Revenue increased in the most recent year compared to the prior year, following a slight decline in the preceding period. Operating income, net income, and operating cash flow were all reported for the period.
Material risks
The supplied filing context does not contain specific descriptions of material risks. No risk factors were detailed in the provided sections.
Liquidity and capital
The filing provides limited discussion on liquidity and capital allocation. Operating cash flow was reported, but no specific capital allocation themes are elaborated in the supplied context.
What to watch
Monitor whether the company's revenue continues to grow in the next filing, given the recent upward trend.