TacticScaleWhat Linde Does & How It Makes Money (LIN)
Updated October 2026 · reflects Linde's latest reported financials
Global industrial gas supplier and process plant engineering company. Linde earns most of its revenue by selling atmospheric and process gases to customers in healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics.
How Linde makes money
Linde earns most of its revenue by selling atmospheric and process gases to customers in healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics. It also earns revenue from engineering and building turnkey process plants for third parties.
What Linde does
Linde plc, founded in 1879 and based in Woking, UK, is an industrial gas company. It supplies atmospheric gases (oxygen, nitrogen, argon and rare gases) and process gases (hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases and acetylene). Its customers work in healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics. Linde also has an engineering business that designs and builds turnkey process plants, including air separation, hydrogen, synthesis, olefin and natural gas plants. It builds these for outside customers and for its own gas operations. The company operates in the US, Brazil, Mexico, Canada, Germany, the UK, Eastern Europe, China, Australia, South Korea and India.
Products & services
- Atmospheric gases (oxygen, nitrogen, argon, rare gases)
- Hydrogen and helium
- Carbon dioxide and carbon monoxide
- Electronic and specialty gases
- Acetylene
- Turnkey air separation, hydrogen, synthesis, olefin and natural gas plants
What is Linde worth?
On an owner-earnings DCF, Linde's most-likely value is about $189 versus a recent price near $484 (61% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$92) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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