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Linde vs Air Products & Chemicals: LIN and APD compared
Linde is the larger company: $9.4B of revenue in its latest quarter (Q3 2026) against $3.6B for Air Products & Chemicals (Q4 FY26). Air Products & Chemicals is growing faster (+12% against +9% a year earlier). Linde is more profitable, with an operating margin of 22.9% against 17.8%.
Where the money goes: LIN and APD
Linde (LIN) · Q3 2026
Linde, Q3 2026: revenue $9.4B (+9% year over year), operating margin 22.9%, net earnings $1.7B, operating cash flow $3.2B. The chart follows the revenue to costs, profit and cash.
Air Products & Chemicals (APD) · Q4 FY26
Air Products & Chemicals, Q4 FY26: revenue $3.6B (+12% year over year), operating margin 17.8%, net earnings $584M. The chart follows the revenue to costs, profit and cash.
| Linde (LIN) | Air Products & Chemicals (APD) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q4 FY26 |
| Revenue | $9.4B | $3.6B |
| Revenue growth, Y/Y | +9% | +12% |
| Operating margin | 22.9% | 17.8% |
| Net earnings | $1.7B | $584M |
| Net margin | 18.0% | 16.4% |
| Operating cash flow | $3.2B | — |
| Free cash flow | $1.8B | — |
| Market value | $241.1B | $67.9B |
| P/E | 34.6× | — |
| Analysts’ mean target | $550.85 | $342.67 |
Where the revenue comes from
Linde
- Americas: $3.6B (38%)
- EMEA: $2.3B (25%)
- APAC: $1.9B (21%)
- Other: $944M (10%)
Questions
Which is bigger, Linde or Air Products & Chemicals?
Linde is the larger company: $9.4B of revenue in its latest quarter (Q3 2026) against $3.6B for Air Products & Chemicals (Q4 FY26).
Is Linde or Air Products & Chemicals growing faster?
Air Products & Chemicals is growing faster (+12% against +9% a year earlier).
Which is more profitable, Linde or Air Products & Chemicals?
Linde is more profitable, with an operating margin of 22.9% against 17.8%.
More: Linde earnings · how Linde makes money · Air Products & Chemicals earnings · how Air Products & Chemicals makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 8-K filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.