Linde plc cash flow statement

In fiscal 2025, Linde plc's operations generated $10.35bn of cash; it spent $5.26bn on capital projects, leaving free cash flow of $5.09bn. It returned $2.81bn in dividends and $4.60bn through buybacks.

Cash flow statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Linde plc: cash flow statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash from operations	2.8	3.0	3.7	6.1	7.4	9.7	8.9	9.3	9.4	10.4	10.7
Depreciation and amortisation	1.1	1.2	1.8	4.7	4.6	4.6	4.2	3.8	3.8	3.8	3.8
Stock-based pay	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2	0.1
Capital spending	1.5	1.3	1.9	3.7	3.4	3.1	3.2	3.8	4.5	5.3	5.6
Free cash flow	1.3	1.7	1.8	2.4	4.0	6.6	5.7	5.5	4.9	5.1	5.1
Free cash flow after stock pay	1.3	1.7	1.7	2.3	3.9	6.5	5.6	5.4	4.8	4.9	4.9
Dividends paid	0.9	0.9	1.2	1.9	2.0	2.2	2.3	2.5	2.7	2.8	2.9
Share buybacks	0.2	0.0	0.6	2.7	2.5	4.6	5.2	4.0	4.5	4.6	4.0
Shares issued	0.1	0.1	0.1	0.1	0.0	0.1	0.0	0.0	0.0	0.0	0.0

US$ millions unless shown otherwise. Fiscal quarters.

Linde plc: cash flow statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Cash from operations	2,809	2,161	2,211	2,948	3,030	2,240	2,271	3,169
Depreciation and amortisation	913	910	942	961	950	951	963	965
Stock-based pay	40	42	46	45	31	41	19	44
Capital spending	1,250	1,270	1,257	1,276	1,458	1,342	1,438	1,392
Free cash flow	1,559	891	954	1,672	1,572	898	833	1,777
Free cash flow after stock pay	1,519	849	908	1,627	1,541	857	814	1,733
Shares issued	3	11	4	5	3	3	19	4

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Linde plc's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Linde plc.