Income StatementBalance SheetCash FlowSegments
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Linde Cash Flow Statement

Operating, investing, and financing cash movements

Linde generated $10.4B in operating cash flow over the trailing twelve months. After $5.3B in capital expenditures, free cash flow was $5.1B. Free cash flow increased 0.0% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$10.4BNet Cash From Investing (TTM)-$5.7BNet Cash From Financing (TTM)-$6.1BCapital Expenditures (TTM)$5.3BDepreciation And Amortization Cf (TTM)$3.8BNet Change In Cash (TTM)-$1.3B
Latest FilingQ1 2026
Report Date2026-05-01
Market Cap$236.19B
P/E Ratio33.35
ROE18.16%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$142.0M$112.0M$158.0M$123.0M$19.0M$153.0M
Capital expenditures$1.3B$1.3B$1.3B$1.3B$1.5B$1.3B
Payment for (Proceeds from) Other Investing Activity—$0.0———$1.0M
Divestitures and asset sales—$13.0M———$112.0M
Net cash from investing activities-$1.4B-$1.4B-$1.5B-$1.4B-$1.5B-$1.4B

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable—-$209.0M-$290.0M$434.0M-$83.0M$35.0M
Change in accounts receivable—$230.0M$79.0M$70.0M—$361.0M
Change in inventories-$24.0M-$9.0M$45.0M$1.0M-$84.0M$48.0M
Other working capital changes$51.0M$51.0M$41.0M$9.0M—$75.0M
Depreciation and amortization$913.0M$910.0M$942.0M$961.0M$950.0M$951.0M
Change in contract assets and liabilities, net-$99.0M-$65.0M$43.0M$46.0M-$96.0M-$108.0M
Non-cash charges and other-$18.0M$5.8M$5.8M$5.8M$5.8M—
Net cash from operating activities$2.8B$2.2B$2.2B$2.9B$3.0B$2.2B
Net income$1.6B$1.7B$1.8B$2.0B$1.4B$1.9B
Stock-based compensation—$42.0M———$41.0M
Deferred income taxes—$9.0M———$8.0M
Increase (Decrease) in Prepaid Expense and Other Assets—-$26.0M———$52.0M
Other Noncash Income (Expense)—-$18.0M———$44.0M
Payment for Pension Benefits—$5.0M———$7.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$8.0M$2.3B$719.0M$5.0M$2.1B$58.0M
Repayments of debt$332.0M$1.0B$633.0M$9.0M$624.0M$733.0M
Dividends paid$659.0M$708.0M$704.0M$701.0M$698.0M$741.0M
Other, net—-$73.0M———-$87.0M
Proceeds from (Repayments of) Short-Term Debt—$165.0M———$339.0M
Net cash from financing activities-$1.6B-$388.0M-$1.4B-$1.8B-$1.0B-$2.0B
Proceeds from issuance of common stock$3.0M$11.0M$4.0M$5.0M$3.0M$3.0M
Repurchases of common stock$1.3B$1.1B$1.1B$989.0M$1.4B$807.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$1.6B$891.0M$954.0M$1.7B$1.6B$898.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$160.0M$40.0M$104.0M-$9.0M$0.0$15.0M
Net increase (decrease) in cash—$444.0M-$508.0M-$277.0M$547.0M-$1.1B

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest paid$110.8M$137.0M$137.0M$137.0M$137.0M—