Linde PLC
LIN: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$962.00 | Vyws | Chclkfrnw |
Linde Earnings: Continued Margin Expansion Despite Slowdown in Some End Markets
Narrow-moat Linde finished 2023 on a strong note, as its full-year revenue of $32.9 billion and adjusted EPS of $14.20 both beat our estimates of $32.8 billion and $14.09, respectively. After rolling our model forward one year, we've raised our fair value estimate to $398 from $393, which reflects our slightly more optimistic operating margin projections as well as time value of money.