Produces and distributes industrial gases under long-term contracts, often from plants built on a customer’s own site.
Linde (LIN) scores 6.5 out of 10 as of , computed from its reported financial statements. That reads as solid quality. The reading rests on profitability, and growth is what holds it back.
Data provided by Twelve Data. Scores are computed by Lemma Analysis from reported financials.
We cannot judge Linde yet, because fewer than five years had both a return on capital and a cost of capital we could measure. This is not a “no”.
Quantitative signs of a moat, read from the filed statements. This is not a judgement of where it comes from (brand, network effects, switching costs). How Lemma measures a moat →
Contracts running a decade or more with pass-through pricing make this the least commodity-like business in the materials sector, and predictability should score accordingly. The counterweight is capital intensity: every new plant is a large fixed asset, so efficiency and asset turnover carry the reading. A good test of whether the framework can tell a contracted business from a cyclical one.
As of October 19, 2026, Linde scores 6.5 out of 10 on the Lemma Quality Score, a reading of solid quality. This band covers companies that do several things well but not everything, so the pillar detail below matters more than the headline. Nothing in it comes from the share price or from forecasts: it is Linde’s own reported numbers, scored pillar by pillar.
Among the 77 Materials companies with a published score, that ranks at the 82nd percentile, among the stronger quarter of the group. The median across the group is 4.4, and the top quarter begins at 6.2, so Linde is well above the typical company here.
Profitability scores 7.4 out of 10, which reads as strong. The median across 74 Materials companies is 4.4, so Linde is well above its peers on this pillar and ranks at the 85th percentile. A reading this strong says the business earns well on what it sells and on the capital it uses, the kind of margin profile competitors find hard to copy.
Solvency scores 7.4 out of 10, which reads as strong. The median across 66 Materials companies is 6.7, so Linde is above its peers on this pillar and ranks at the 60th percentile. Balance sheet strength like this rarely makes headlines, but it is what lets a company keep investing when credit gets expensive.
Growth scores 5.1 out of 10, which reads as average. The median across 57 Materials companies is 3.2, so Linde is well above its peers on this pillar and ranks at the 70th percentile. A middling growth reading is typical of a mature company whose next step depends on reinvestment rather than on its market growing for it.
On efficiency, Linde scores 5.6, an average reading. Its peers have a median of 5.2 across 71 Materials companies, which places it in line with them, at the 63rd percentile. Efficiency near the median says the operation is neither unusually lean nor unusually capital hungry.
Predictability scores 6.9 out of 10, which reads as average. The median across 76 Materials companies is 4.5, so Linde is well above its peers on this pillar and ranks at the 91st percentile. Middling predictability suggests some volatility in the record, enough to read the other pillars with a little caution.
Profitability at 7.4 is Linde’s best pillar and growth at 5.1 its weakest. The 2.3 point gap between them is worth keeping in mind when reading the overall. A profitability lead usually reflects something durable in the business model rather than a good year. Slow growth limits how fast the business can compound, even when everything else is in order.
Linde has no pillar below the median of Materials companies, which leaves little room to rise. Its exposure is to slippage instead, and profitability carries the most weight: one point less there would mean an overall of roughly 6.3 rather than 6.5. The weights add up to 100 points (profitability 25, solvency 20, growth 20, efficiency 15, predictability 20), and Linde has a reading on every pillar.
For a fair comparison, start with companies of a similar size: the Materials companies below are nearest to Linde by market value, each scored on the same pillars.
How much profit the company generates from its capital and sales.
The company’s ability to service debt and meet its obligations.
How fast revenue, earnings and cash flow are compounding.
How well assets and earnings convert into cash and output.
How stable and consistent results have been over time.
Each metric is scored from 0 to 10 against sector-aware benchmarks, where higher is better. Metrics roll up into five pillars, and the pillars combine into the overall score using the weights shown. Sector-sensitive metrics are judged relative to peers in the same sector.
This score is a systematic, backward-looking read of reported fundamentals. It does not judge valuation, management quality, competitive moat, or future prospects, and can be distorted by one-off items or unusual accounting. Treat it as a starting point, not a recommendation.
Educational only. Not investment advice.
On this reading Linde scores 6.5 out of 10, which reads as solid quality. Its strongest pillar is profitability, its weakest is growth. Quality is not the same as a good investment: the score says nothing about the price you would pay.
Linde ranks at the 82nd percentile of the 77 Materials companies Lemma publishes a score for. The median there is 4.4 and the top quarter starts at 6.2, against Linde’s 6.5.
Five pillars, each scored from 0 to 10 against sector-aware benchmarks and then weighted into one overall reading: profitability, solvency, growth, efficiency and predictability. Everything comes from reported financials, and nothing comes from price, sentiment or forecasts.
This page last changed on October 19, 2026. The score moves with the financial statements, so the page changes when a new filing moves the reading rather than on a schedule. Live figures for LIN are in the app.
No. Quality and valuation are separate questions, and a good business at the wrong price is still a bad purchase. Score the business here, then price it with a DCF you control.
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