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IntroductionThe concept of valuationRevenue and revenue growthVariable costsFixed costsProduction assets

Intrinsic value of Linde plc (LIN)

Previous Close$315.18
Intrinsic Value$117.23
Upside potential  -63%
Previous Close
$315.18
Intrinsic Value
$117.23
Potential        
-63%

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
160,332

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %13.0NaN
Revenue, $30793NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m25809NaN
Operating income, $m4984NaN
EBITDA, $m9619NaN
Interest expense (income), $mNaN
Earnings before tax, $m5088NaN
Tax expense, $m1262NaN
Net income, $m3826NaN

BALANCE SHEET

Cash and short-term investments, $m2823NaN
Total assets, $m81605NaN
Adjusted assets (=assets-cash), $m78782NaN
Average production assets, $m71023NaN
Working capital, $m-3484NaN
Total debt, $m15216NaN
Total liabilities, $m37570NaN
Total equity, $m44035NaN
Debt-to-equity ratio0.346NaN
Adjusted equity ratio0.563NaN

CASH FLOW

Net income, $m3826NaN
Depreciation, amort., depletion, $m4635NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m9725NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-3086NaN
Free cash flow, $m12811NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-3484
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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