What is Linde's operating margin?

Latest reported operating margin for Linde (LIN) is 28.79% as of the trailing twelve months (TTM) ending March 31, 2026.

How has Linde operating margin changed year-over-year?

Linde (LIN) operating margin changed +0.2 percentage points year-over-year on the latest annual filing.

When did Linde operating margin hit its highest annual value?

Linde operating margin reached its highest annual value of 26.29% in 2025.

What was Linde operating margin in 2024?

Linde (LIN) operating margin in 2024 was 26.04%.

What was Linde operating margin in 2025?

Linde (LIN) operating margin in 2025 was 26.29%.

Linde (LIN) Operating Margin — Annual & Quarterly

TTM

28.8%

YoY change

+0.25pp

Trough year (2019)

11.6%

Peak year (2025)

26.3%

Operating Margin history chart for Linde (LIN) from 1991 to 2025

Latest: 26.3%

Operating Margin change chart for Linde (LIN) from 1991 to 2025

Latest: +0.25pp

Operating Margin history table for Linde (LIN) from 1991 to 2025


2025	26.3%	+0.25pp	Dec 31, 2025	Feb 25, 2026
2024	26.0%	+1.37pp	Dec 31, 2024	Feb 26, 2025
2023	24.7%	+5.31pp	Dec 31, 2023	Feb 28, 2024
2022	19.4%	+2.21pp	Dec 31, 2022	Feb 28, 2023
2021	17.2%	+2.88pp	Dec 31, 2021	Feb 28, 2022
2020	14.3%	+2.70pp	Dec 31, 2020	Mar 1, 2021
2019	11.6%	-3.55pp	Dec 31, 2019	Mar 2, 2020
2018	15.1%	-6.66pp	Dec 31, 2018	Mar 18, 2019
2017	21.8%	-0.19pp	Dec 31, 2017	Mar 23, 2018
2016	22.0%	-0.95pp	Dec 31, 2016	Dec 31, 2016
2015	22.9%	+0.79pp	Dec 31, 2015	Dec 31, 2015
2014	22.1%	-0.20pp	Dec 31, 2014	Dec 31, 2014
2013	22.3%	+0.43pp	Dec 31, 2013	Dec 31, 2013
2012	21.9%	+0.03pp	Dec 31, 2012	Dec 31, 2012
2011	21.9%	+0.51pp	Dec 31, 2011	Dec 31, 2011
2010	21.4%	-0.02pp	Dec 31, 2010	Dec 31, 2010
2009	21.4%	+2.48pp	Dec 31, 2009	Dec 31, 2009
2008	18.9%	-0.05pp	Dec 31, 2008	Dec 31, 2008
2007	19.0%	+1.28pp	Dec 31, 2007	Dec 31, 2007
2006	17.7%	+1.06pp	Dec 31, 2006	Dec 31, 2006
2005	16.6%	+0.20pp	Dec 31, 2005	Dec 31, 2005
2004	16.4%	-0.00pp	Dec 31, 2004	Dec 31, 2004
2003	16.4%	-1.57pp	Dec 31, 2003	Dec 31, 2003
2002	18.0%	+2.49pp	Dec 31, 2002	Dec 31, 2002
2001	15.5%	+1.49pp	Dec 31, 2001	Dec 31, 2001
2000	14.0%	-2.23pp	Dec 31, 2000	Dec 31, 2000
1999	16.3%	-1.19pp	Dec 31, 1999	Dec 31, 1999
1998	17.4%	-0.26pp	Dec 31, 1998	Dec 31, 1998
1997	17.7%	+1.85pp	Dec 31, 1997	Dec 31, 1997
1996	15.8%	-1.10pp	Dec 31, 1996	Dec 31, 1996
1995	16.9%	-0.17pp	Dec 31, 1995	Dec 31, 1995
1994	17.1%	+3.21pp	Dec 31, 1994	Dec 31, 1994
1993	13.9%	-2.53pp	Dec 31, 1993	Dec 31, 1993
1992	16.4%	+1.21pp	Dec 31, 1992	Dec 31, 1992
1991	15.2%	—	Dec 31, 1991	Dec 31, 1991

202526.3%+0.25pp
202426.0%+1.37pp
202324.7%+5.31pp
202219.4%+2.21pp
202117.2%+2.88pp
202014.3%+2.70pp
201911.6%-3.55pp
201815.1%-6.66pp
201721.8%-0.19pp
201622.0%-0.95pp
201522.9%+0.79pp
201422.1%-0.20pp
201322.3%+0.43pp
201221.9%+0.03pp
201121.9%+0.51pp
201021.4%-0.02pp
200921.4%+2.48pp
200818.9%-0.05pp
200719.0%+1.28pp
200617.7%+1.06pp
200516.6%+0.20pp
200416.4%-0.00pp
200316.4%-1.57pp
200218.0%+2.49pp
200115.5%+1.49pp
200014.0%-2.23pp
199916.3%-1.19pp
199817.4%-0.26pp
199717.7%+1.85pp
199615.8%-1.10pp
199516.9%-0.17pp
199417.1%+3.21pp
199313.9%-2.53pp
199216.4%+1.21pp
199115.2%—

Operating Margin values are taken from Linde's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About Operating Margin at Linde (LIN)

According to Linde's latest reported financial statements, the company's latest reported operating margin is 28.8%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending March 31, 2026 (reported May 1, 2026). Chart and table below cover the full reported history back to 1991.

Linde (LIN) most recent annual operating margin stands at 26.29% (2025) – expanded 0.2 percentage points year-over-year.

The highest annual operating margin of 26.29% was reported in 2025. The lowest in the available history was 11.58% in 2019.

Linde Operating Margin by Year

Linde Operating Margin 2025: 26.3%

In 2025, Linde reported operating margin of 26.29%, expanded 0.2 percentage points from 2024. This figure represents the highest annual value in the available history.

Linde Operating Margin 2024: 26.0%

Linde operating margin in 2024 was 26.04%, expanded 1.4 percentage points from 2023.

Linde Operating Margin 2023: 24.7%

2023's operating margin for Linde came in at 24.67%, expanded 5.3 percentage points from 2022.

Linde Operating Margin 2022: 19.4%

Linde posted operating margin of 19.36% in 2022, expanded 2.2 percentage points from 2021.

Linde Operating Margin 2021: 17.2%

Linde operating margin in 2021 was 17.16%.

See more financial history for Linde (LIN).

Sector peers by Operating Margin

Basic Materials peers of Linde (LIN), ranked by their latest operating margin


Agnico Eagle Mines (AEM)	56.9%
Southern Copper (SCCO)	54.6%
Newmont (NEM)	52.6%
Freeport-McMoRan (FCX)	27.8%
Air Products and Chemicals (APD)	18.4%
Ecolab (ECL)	17.5%
Sherwin-Williams (SHW)	16.1%
CRH (CRH)	13.2%

Frequently asked questions

Linde (LIN) Key Financials

Charts, filings, and peer comparison for every metric

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation