Filing Flows › Linde (LIN) › Q2 2025
Linde (LIN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Linde (LIN) reported revenue of $8.5B for the second quarter 2025 (Q2 2025), +3% from a year earlier and +5% from the quarter before. Operating margin was 27.7%, net earnings $1.8B (20.8% of revenue).
Linde, Q2 2025: revenue $8.5B (+3% year over year), operating margin 27.7%, net earnings $1.8B, operating cash flow $2.2B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.5B | +5% | +3% |
| Operating profit | $2.4B | +8% | +8% |
| Net earnings | $1.8B | +6% | +6% |
| Operating cash flow | $2.2B | +2% | +15% |
| Free cash flow | $954M | +7% | +20% |
What changed
Revenue was $8.5B in Q2 2025, up 3% year over year and up 5% from the previous quarter. Americas was the largest line at 45% of revenue. Americas added $0.16B year over year (up 4%), 69% of the total change. Other declined 2%.
Operating profit was $2.4B, a 27.7% margin (up 1.3 points year over year). Of the extra revenue versus a year earlier, 75% reached operating profit, above the 26% margin then. Total costs grew 1% against revenue growth of 3%. Net earnings were $1.8B, up 6% year over year. The effective tax rate was 24.1%.
Operating cash flow was $2.2B (up 15% year over year), 122% of net income including minority interests. Non-cash charges added back $0.94B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.58B. Capital expenditures of $1.3B left free cash flow of $1.0B.
Questions
What was Linde's revenue in the second quarter 2025?
Linde (LIN) reported revenue of $8.5B for the second quarter 2025 (Q2 2025), +3% from a year earlier and +5% from the quarter before.
Was Linde profitable in the second quarter 2025?
Operating profit was $2.4B (27.7% of revenue) and net earnings $1.8B.
Source: Linde 10-Q on SEC EDGAR.