Linde plc Ordinary Shares (LIN)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	13,397,000	13,232,000	13,528,000	11,744,000	12,198,000	—	—	—	11,335,000	—	—	—	12,152,000	—	—	—	10,693,000	—	—	—
Total stockholders’ equity	US$ in thousands	39,720,000	38,898,000	39,911,000	39,970,000	40,028,000	37,628,000	39,674,000	42,963,000	44,035,000	44,323,000	45,777,000	46,210,000	47,317,000	46,175,000	45,537,000	44,776,000	49,074,000	48,953,000	50,564,000	51,175,000
Debt-to-equity ratio		0.34	0.34	0.34	0.29	0.30	0.00	0.00	0.00	0.26	0.00	0.00	0.00	0.26	0.00	0.00	0.00	0.22	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $13,397,000K ÷ $39,720,000K
= 0.34

The debt-to-equity ratio of Linde Plc. has shown a fluctuating trend over the past eight quarters. The ratio ranged between 0.38 and 0.49 during this period. In Q1 2022, the ratio was at its lowest at 0.38, indicating that the company had a lower level of debt relative to equity. Subsequently, the ratio gradually increased, reaching its peak of 0.49 in Q4 2023, suggesting a higher reliance on debt compared to equity at that point in time.

Overall, the trend indicates some variability in Linde Plc.'s capital structure, with periods of higher and lower debt-to-equity ratios. This fluctuation may be influenced by the company's financing decisions, changes in borrowing levels, or fluctuations in equity value. It is essential for stakeholders to monitor these changes to assess the company's financial leverage and risk profile accurately.