Linde (LIN) reported R&D of $38M in Q1 2026.

How has Linde's R&D changed year-over-year?

Linde's R&D decreased by 0.0% year-over-year, from $38M to $38M.

What is the long-term trend for Linde's R&D?

Over 4 years (2021 to 2025), Linde's R&D has grown at a 0.7% compound annual growth rate (CAGR), from $143M to $147M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Linde LIN R&D

R&D at other companies

Air Products and ChemicalsAPD

$21.6M-5.7%

EntegrisENTG

$75.3M-11.2%

Baker HughesBKR

$133M-8.9%

Ichor HoldingsICHR

$5.53M-5.9%

UCT

Ultra Clean HoldingsUCTT

$8.5M+11.8%

NET PowerNPWR

$19.7M-12.8%

Other financials

Income statement

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Revenue$8.8B+8.2%

Gross profit$4.3B+7.7%

Operating income$2.4B+11.7%

Net income$1.9B+11.0%

EPS (diluted)$3.98+13.4%

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$239.93B+15.6%

Enterprise value$267.11B+14.4%

P/E33.9×+3.0×

P/S6.9×+0.7×

Profitability

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Gross margin48.8%+0.5pp

Operating margin26.5%+0.1pp

Net margin20.4%+0.4pp

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 us-gaap:ResearchAndDevelopmentExpense.

The official record: Linde’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Linde's R&D?: Linde (LIN) reported R&D of $38M in Q1 2026.
How has Linde's R&D changed year-over-year?: Linde's R&D decreased by 0.0% year-over-year, from $38M to $38M.
What is the long-term trend for Linde's R&D?: Over 4 years (2021 to 2025), Linde's R&D has grown at a 0.7% compound annual growth rate (CAGR), from $143M to $147M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.