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NMS · Valuation Lab
LIN
Linde plc
Last$491.05
Market cap226.4B
EV/EBITDA17.8x
Intrinsic value
$220.82
MoS -122.4% · Overvalued
Assuming 11.7% FCF margin and 9.3% Y1–5 growth.
Upside to price
EV (DCF)124.9B
Terminal share66%
Expected IV$240.57
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 66% of EV
PV of stage FCFs42.7B
PV of terminal value82.2B
Enterprise value124.9B
Net cash / (debt)-23.1B
Equity value101.8B
Intrinsic value / share$220.82
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 38.7B | 4.5B | 4.2B | 93.1% |
| Y2 | 42.3B | 5B | 4.3B | 86.6% |
| Y3 | 46.3B | 5.4B | 4.4B | 80.6% |
| Y4 | 50.6B | 5.9B | 4.4B | 75.0% |
| Y5 | 55.3B | 6.5B | 4.5B | 69.8% |
| Y6 | 57.9B | 6.8B | 4.4B | 65.0% |
| Y7 | 60.6B | 7.1B | 4.3B | 60.5% |
| Y8 | 63.5B | 7.4B | 4.2B | 56.3% |
| Y9 | 66.4B | 7.8B | 4.1B | 52.4% |
| Y10 | 69.6B | 8.1B | 4B | 48.7% |
| Terminal | — | — | 82.2B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.