Filing Flows › Linde (LIN) › Q3 2025
Linde (LIN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
Linde (LIN) reported revenue of $8.6B for the third quarter 2025 (Q3 2025), +3% from a year earlier and +1% from the quarter before. Operating margin was 27.5%, net earnings $1.9B (22.4% of revenue).
Linde, Q3 2025: revenue $8.6B (+3% year over year), operating margin 27.5%, net earnings $1.9B, operating cash flow $2.9B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.6B | +1% | +3% |
| Operating profit | $2.4B | +0.6% | +13% |
| Net earnings | $1.9B | +9% | +24% |
| Operating cash flow | $2.9B | +33% | +8% |
| Free cash flow | $1.7B | +75% | +0.4% |
What changed
Revenue was $8.6B in Q3 2025, up 3% year over year and up 1% from the previous quarter. Americas was the largest line at 45% of revenue. Americas added $0.23B year over year (up 6%), 88% of the total change. Engineering declined 15%.
Operating profit was $2.4B, a 27.5% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 108% reached operating profit, above the 25% margin then. Total costs fell 0% while revenue rose 3%. Net earnings were $1.9B, up 24% year over year. The effective tax rate was 17.7%.
Operating cash flow was $2.9B (up 8% year over year), 149% of net income including minority interests. Non-cash charges added back $1.0B of depreciation and amortization and $0.04B of share-based compensation. Capital expenditures of $1.3B left free cash flow of $1.7B.
Questions
What was Linde's revenue in the third quarter 2025?
Linde (LIN) reported revenue of $8.6B for the third quarter 2025 (Q3 2025), +3% from a year earlier and +1% from the quarter before.
Was Linde profitable in the third quarter 2025?
Operating profit was $2.4B (27.5% of revenue) and net earnings $1.9B.
Source: Linde 10-Q on SEC EDGAR.