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Linde LIN Engineering — Variable costs

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Other financials

Income statement

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Revenue$9.3B+9.3%
Gross profit$4.3B+7.7%
Operating income$2.4B+11.7%
Net income$1.9B+9.2%
EPS (diluted)$4.15+11.3%

Balance sheet

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Cash & equivalents$4.0B-25.2%
Total debt$31.1B+9.8%
Total equity$38.6B+1.4%
Total assets$86.3B+4.4%

Cash flow

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Operating cash flow$2.2B+3.7%
CapEx$1.3B+5.7%
Free cash flow$898.0M+0.8%

Valuation

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Market cap$226.36B+2.4%
Enterprise value$253.54B+5.6%
P/E31.3×-1.7×
P/S6.4×-0.3×

Profitability

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Gross margin48.8%+0.5pp
Operating margin26.5%+0.1pp
Net margin20.4%+0.2pp
FCF margin14.7%-0.2pp

Returns & leverage

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Return on equity18.5%+1.3pp
Debt / equity0.8×+0.1×
Current ratio0.8×-0.1×

Where this comes from

Reported directly by Linde in its filing.

Tagged under the XBRL concept lin:VariableCosts.

The source filing: Linde’s 10-Q, filed May 1, 2026.

Filed
May 1, 2026, 10:38 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-029165
(Millions of dollars)AmericasEMEAAPACEngineeringOtherTotal
2026
Sales (a)$4,025$2,171$1,701$517$367$8,781
Variable Costs (b)1,5767228411681573,464
Fixed Costs and other (c)7984902092411891,927
Depreciation and amortization (d)379175174725760
Operating Profit (e)$1,272$784$477$101$(4)$2,630
2025
Sales (a)$3,666$2,031$1,539$565$311$8,112

Item 1. Financial Statement

FAQ

What is Linde's engineering — variable costs?
Linde (LIN) reported engineering — variable costs of $168M in Q1 2026.
How has Linde's engineering — variable costs changed year-over-year?
Linde's engineering — variable costs decreased by 21.9% year-over-year, from $215M to $168M.
What is the long-term trend for Linde's engineering — variable costs?
Over 3 years (2022 to 2025), Linde's engineering — variable costs has grown at a -12.3% compound annual growth rate (CAGR), from $1.26B to $853M.
What does engineering — variable costs mean?
Costs that fluctuate in direct proportion to the volume of engineering projects and services delivered, such as raw materials, project-specific labor, and subcontracting fees. These are essential for calculating the direct cost of project execution.

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